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Beijing Deinong Technology Q2 profit falls YOY

Beijing Dabeinong Technology Group Co. Ltd. said its normalized net income for the second quarter amounted to 2 fen per share, a decline of 5.9% from 2 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 74.4 million yuan, a decline of 11.5% from 84.0 million yuan in the prior-year period.

The normalized profit margin dropped to 1.8% from 2.0% in the year-earlier period.

Total revenue declined 8.4% on an annual basis to 3.85 billion yuan from 4.21 billion yuan, and total operating expenses declined 8.7% on an annual basis to 3.73 billion yuan from 4.08 billion yuan.

Reported net income declined 16.5% year over year to 104.5 million yuan, or 3 fen per share, from 125.2 million yuan, or 3 fen per share.

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