Ningbo Jifeng Auto Parts Co. Ltd. said its first-quarter normalized net income came to 7 fen per share, a decline of 7.5% from 7 fen per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 37.5 million yuan, a decline of 6.6% from 40.2 million yuan in the year-earlier period.
The normalized profit margin declined to 13.9% from 17.7% in the year-earlier period.
Total revenue rose 20.5% on an annual basis to 273.6 million yuan from 227.0 million yuan, and total operating expenses grew 25.9% on an annual basis to 207.0 million yuan from 164.4 million yuan.
Reported net income totaled 52.3 million yuan, or 9 fen per share, compared to 51.8 million yuan, or 9 fen per share, in the prior-year period.
As of April 29, US$1 was equivalent to 6.20 yuan.
