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Lonkey Industrial Q2 profit falls YOY

Lonkey Industrial Co.Ltd. Guangzhou said its normalized net income for the second quarter amounted to 1 fen per share, a decline of 27.2% 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 6.2 million yuan, a decline of 22.8% from 8.0 million yuan in the year-earlier period.

The normalized profit margin dropped to 0.4% from 0.7% in the year-earlier period.

Total revenue climbed 67.5% year over year to 1.87 billion yuan from 1.12 billion yuan, and total operating expenses rose 68.8% from the prior-year period to 1.85 billion yuan from 1.09 billion yuan.

Reported net income fell from the prior-year period to 8.8 million yuan, or 2 fen per share, from 9.0 million yuan, or 2 fen per share.

As of Aug. 7, US$1 was equivalent to 6.21 yuan.