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Lanzhou Minbai Shareholding Q2 profit falls YOY

Lanzhou Minbai Shareholding (group) Co. Ltd. said its normalized net income for the second quarter amounted to 6 fen per share, a decline of 5.2% from 6 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.4 million yuan, a decrease from 21.3 million yuan in the prior-year period.

The normalized profit margin climbed to 7.9% from 7.9% in the year-earlier period.

Total revenue fell 5.1% year over year to 257.7 million yuan from 271.5 million yuan, and total operating expenses declined 6.5% on an annual basis to 225.4 million yuan from 241.1 million yuan.

Reported net income fell on an annual basis to 24.4 million yuan, or 7 fen per share, from 25.2 million yuan, or 7 fen per share.

As of July 23, US$1 was equivalent to 6.21 yuan.