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Jonjee Hi-tech Industrial & Commercial Q3 profit climbs 60.6% YOY

Jonjee Hi-tech Industrial & Commercial Holding Co. Ltd. said its normalized net income for the third quarter was 10 fen per share, an increase of 60.5% from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 77.0 million yuan, a gain of 60.6% from 48.0 million yuan in the prior-year period.

The normalized profit margin increased to 10.6% from 6.8% in the year-earlier period.

Total revenue rose 13.8% year over year to 805.8 million yuan from 707.9 million yuan, and total operating expenses climbed 7.7% year over year to 659.9 million yuan from 613.0 million yuan.

Reported net income grew 72.7% from the prior-year period to 113.2 million yuan, or 14 fen per share, from 65.6 million yuan, or 8 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.