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Sailun Jinyu Q1 profit climbs YOY

Sailun Jinyu Group Co. Ltd. said its first-quarter normalized net income was 76.0 million yuan, a gain from 18.9 million yuan in the prior-year period.

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

The normalized profit margin climbed to 3.6% from 1.0% in the year-earlier period.

Total revenue rose 13.5% on an annual basis to 2.25 billion yuan from 1.98 billion yuan, and total operating expenses grew 11.0% on an annual basis to 2.08 billion yuan from 1.88 billion yuan.

Reported net income rose on an annual basis to 95.2 million yuan, or 4 fen per share, from 32.0 million yuan, or 1 fen per share.

As of April 29, US$1 was equivalent to 6.48 yuan.