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Baolingbao Biology Q2 profit falls YOY

Baolingbao Biology Co.Ltd. said its second-quarter normalized net income amounted to 3 fen per share, an increase of 17.2% from 2 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 9.1 million yuan, a decrease from 9.3 million yuan in the prior-year period.

The normalized profit margin declined to 3.2% from 4.0% in the year-earlier period.

Total revenue rose 36.6% year over year to 321.0 million yuan from 235.0 million yuan, and total operating expenses increased 36.1% on an annual basis to 308.0 million yuan from 226.3 million yuan.

Reported net income grew 8.5% on an annual basis to 13.7 million yuan, or 4 fen per share, from 12.6 million yuan, or 3 fen per share.

As of Aug. 19, US$1 was equivalent to 6.40 yuan.