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Coslight Technology H1 profit climbs YOY

Coslight Technology International Group Ltd. said its normalized net income for the first half came to 27 fen per share, a gain from 6 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 107.4 million yuan, an increase from 26.2 million yuan in the prior-year period.

Total revenue rose 45.9% year over year to 2.42 billion yuan from 1.66 billion yuan, and total operating expenses increased 37.4% on an annual basis to 2.25 billion yuan from 1.64 billion yuan.

Reported net income rose on an annual basis to 126.0 million yuan, or 32 fen per share, from 20.2 million yuan, or 5 fen per share.

As of Sept. 29, US$1 was equivalent to 6.67 yuan.