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Jonjee Hi-tech Industrial & Commercial profit misses consensus by 43.8% in Q1

Jonjee Hi-tech Industrial & Commercial Holding Co. Ltd. said its first-quarter normalized net income came to 6 fen per share, compared with the S&P Capital IQ consensus estimate of 11 fen per share.

EPS increased 21.8% year over year from 5 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.2 million yuan, an increase of 21.7% from 40.4 million yuan in the year-earlier period.

The normalized profit margin increased to 6.7% from 6.2% in the year-earlier period.

Total revenue rose 13.4% on an annual basis to 744.2 million yuan from 656.0 million yuan, and total operating expenses increased 12.7% on an annual basis to 648.4 million yuan from 575.5 million yuan.

Reported net income rose 24.0% year over year to 66.0 million yuan, or 8 fen per share, from 53.2 million yuan, or 7 fen per share.

As of April 28, US$1 was equivalent to 6.48 yuan.