Shandong Homey Aquatic Development Co. Ltd. said its normalized net income for the first quarter came to 3.4 million yuan, a fall of 52.2% from 7.1 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 3.1% from 5.0% in the year-earlier period.
Total revenue rose 34.1% year over year to 188.4 million yuan from 140.6 million yuan, and total operating expenses rose 41.3% on an annual basis to 179.9 million yuan from 127.3 million yuan.
Reported net income decreased 27.5% from the prior-year period to 7.9 million yuan, or 1 fen per share, from 10.9 million yuan, or 1 fen per share.
As of April 29, US$1 was equivalent to 6.20 yuan.
