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Suofeiya Home Collection Q2 profit climbs 61.8% YOY

Suofeiya Home Collection Co. Ltd. said its normalized net income for the second quarter was 15 fen per share, an increase of 61.7% from 9 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 130.6 million yuan, a gain of 61.8% from 80.7 million yuan in the year-earlier period.

The normalized profit margin climbed to 12.8% from 11.2% in the year-earlier period.

Total revenue rose 42.8% on an annual basis to 1.03 billion yuan from 718.6 million yuan, and total operating expenses climbed 40.4% from the prior-year period to 832.9 million yuan from 593.4 million yuan.

Reported net income grew 48.5% from the prior-year period to 147.3 million yuan, or 17 fen per share, from 99.2 million yuan, or 11 fen per share.

As of Aug. 8, US$1 was equivalent to 6.67 yuan.