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AAC Technologies Holdings profit misses consensus by 27.9% in Q2

AAC Technologies Holdings Inc. said its normalized net income for the second quarter was 43 fen per share, compared with the S&P Capital IQ consensus estimate of 60 fen per share.

EPS increased 20.4% year over year from 36 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 532.3 million yuan, an increase of 20.4% from 442.1 million yuan in the year-earlier period.

The normalized profit margin dropped to 17.6% from 18.4% in the year-earlier period.

Total revenue climbed 25.7% year over year to 3.02 billion yuan from 2.40 billion yuan, and total operating expenses climbed 26.9% from the prior-year period to 2.19 billion yuan from 1.73 billion yuan.

Reported net income increased 15.1% from the prior-year period to 736.1 million yuan, or 60 fen per share, from 639.4 million yuan, or 52 fen per share.

As of Sept. 9, US$1 was equivalent to 6.68 yuan.