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Yihua Lifestyle Technology profit misses consensus by 45.6% in Q1

Yihua Lifestyle Technology Co. Ltd. said its first-quarter normalized net income was 6 fen per share, compared with the S&P Capital IQ consensus estimate of 10 fen per share.

EPS fell 29.1% year over year from 8 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 84.7 million yuan, a decrease of 16.1% from 100.9 million yuan in the prior-year period.

The normalized profit margin increased to 10.7% from 10.6% in the year-earlier period.

Total revenue fell 17.5% year over year to 782.6 million yuan from 948.4 million yuan, and total operating expenses decreased 17.1% from the prior-year period to 623.4 million yuan from 752.0 million yuan.

Reported net income fell 5.3% year over year to 120.1 million yuan, or 8 fen per share, from 126.9 million yuan, or 10 fen per share.

As of April 28, US$1 was equivalent to 6.20 yuan.