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Lonkey Industrial Q3 profit falls YOY

Lonkey Industrial Co.Ltd. Guangzhou said its third-quarter normalized net income came to 2 fen per share, an increase of 20.2% 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 9.4 million yuan, a decrease from 9.8 million yuan in the prior-year period.

The normalized profit margin dropped to 0.4% from 0.5% in the year-earlier period.

Total revenue climbed 17.0% year over year to 2.20 billion yuan from 1.88 billion yuan, and total operating expenses climbed 17.6% year over year to 2.19 billion yuan from 1.86 billion yuan.

Reported net income decreased 47.1% on an annual basis to 8.0 million yuan, or 2 fen per share, from 15.0 million yuan, or 3 fen per share.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.