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Changbai Mountain Tourism Q3 profit falls YOY

Changbai Mountain Tourism Co. Ltd. said its third-quarter normalized net income amounted to 29 fen per share, a decrease of 19.9% from 36 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 77.6 million yuan, a decline of 22.1% from 99.6 million yuan in the year-earlier period.

The normalized profit margin declined to 37.9% from 44.0% in the year-earlier period.

Total revenue decreased 8.8% on an annual basis to 206.1 million yuan from 226.1 million yuan, and total operating expenses climbed 13.2% on an annual basis to 82.1 million yuan from 72.6 million yuan.

Reported net income decreased 20.9% from the prior-year period to 94.5 million yuan, or 35 fen per share, from 119.4 million yuan, or 43 fen per share.

As of Oct. 25, US$1 was equivalent to 6.78 yuan.