Asia Fashion Holdings Ltd. said its first-quarter normalized net income amounted to 6.0 million yuan.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 3.4%.

Total revenue totaled 176.9 million yuan, and total operating expenses totaled 143.5 million yuan.

Reported net income totaled 8.9 million yuan, or 22 fen per share.

As of May 15, US$1 was equivalent to 6.21 yuan.