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Xinjiang Youhao Q1 profit falls YOY

Xinjiang Youhao(Group)Co.Ltd said its first-quarter normalized net income amounted to 1.1 million yuan, a decrease of 95.4% from 22.8 million yuan in the year-earlier period.

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

The normalized profit margin declined to 0.2% from 1.4% in the year-earlier period.

Total revenue decreased year over year to 1.62 billion yuan from 1.65 billion yuan, and total operating expenses declined on an annual basis to 1.59 billion yuan from 1.63 billion yuan.

Reported net income decreased 94.9% from the prior-year period to 1.9 million yuan, or 1 fen per share, from 37.0 million yuan, or 12 fen per share.

As of April 27, US$1 was equivalent to 6.50 yuan.