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Joeone Q1 profit falls YOY

Joeone Co. Ltd. said its normalized net income for the first quarter came to 18 fen per share, a decrease of 10.1% from 20 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 105.2 million yuan, a decline of 9.6% from 116.4 million yuan in the prior-year period.

The normalized profit margin fell to 19.1% from 21.4% in the year-earlier period.

Total revenue climbed on an annual basis to 562.7 million yuan from 545.0 million yuan, and total operating expenses grew on an annual basis to 409.3 million yuan from 399.6 million yuan.

Reported net income declined 11.5% year over year to 127.9 million yuan, or 22 fen per share, from 144.6 million yuan, or 25 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.