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Yonghui Superstores profit misses consensus by 27.4% in Q1

Yonghui Superstores Co. Ltd. said its normalized net income for the first quarter was 4 fen per share, compared with the S&P Capital IQ consensus estimate of 6 fen per share.

EPS rose 29.3% year over year from 3 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 264.0 million yuan, an increase of 26.0% from 209.6 million yuan in the prior-year period.

The normalized profit margin rose to 2.4% from 2.2% in the year-earlier period.

Total revenue grew 19.9% year over year to 11.20 billion yuan from 9.34 billion yuan, and total operating expenses rose 19.9% year over year to 10.77 billion yuan from 8.99 billion yuan.

Reported net income grew 19.0% year over year to 363.8 million yuan, or 6 fen per share, from 305.7 million yuan, or 5 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.