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Zhejiang Dahua Technology Q2 profit climbs 31.8% YOY

Zhejiang Dahua Technology Co. Ltd. said its normalized net income for the second quarter was 9 fen per share, compared with the S&P Capital IQ consensus estimate of 8 fen per share.

EPS climbed 33.0% year over year from 6 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 248.7 million yuan, a gain of 31.8% from 188.7 million yuan in the year-earlier period.

The normalized profit margin rose to 11.0% from 9.9% in the year-earlier period.

Total revenue increased 19.4% year over year to 2.27 billion yuan from 1.90 billion yuan, and total operating expenses climbed 20.1% from the prior-year period to 1.99 billion yuan from 1.66 billion yuan.

Reported net income grew 18.3% from the prior-year period to 360.4 million yuan, or 12 fen per share, from 304.7 million yuan, or 10 fen per share.

As of Aug. 14, US$1 was equivalent to 6.40 yuan.