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Shanxi Xinghuacun Fen Wine Factory profit misses consensus by 56.3% in Q2

Shanxi Xinghuacun Fen Wine Factory Co. Ltd. said its normalized net income for the second quarter amounted to 6 fen per share, compared with the S&P Capital IQ consensus estimate of 13 fen per share.

EPS increased year over year from 2 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 47.9 million yuan, an increase from 18.1 million yuan in the prior-year period.

The normalized profit margin increased to 6.1% from 2.4% in the year-earlier period.

Total revenue increased 9.1% on an annual basis to 810.2 million yuan from 742.4 million yuan, and total operating expenses grew year over year to 729.7 million yuan from 706.5 million yuan.

Reported net income increased year over year to 64.1 million yuan, or 7 fen per share, from 17.7 million yuan, or 2 fen per share.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.