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Zhejiang Bangjie Digital Knitting Q2 profit climbs 33.8% YOY

Zhejiang Bangjie Digital Knitting Share Co. Ltd. said its normalized net income for the second quarter amounted to 2 fen per share, a gain of 35.7% from 2 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 8.0 million yuan, a gain of 33.8% from 6.0 million yuan in the year-earlier period.

The normalized profit margin rose to 8.8% from 6.6% in the year-earlier period.

Total revenue rose 7.2% year over year to 96.9 million yuan from 90.4 million yuan, and total operating expenses rose 10.6% from the prior-year period to 91.9 million yuan from 83.1 million yuan.

Reported net income rose 19.0% year over year to 9.4 million yuan, or 3 fen per share, from 7.9 million yuan, or 2 fen per share.

As of Aug. 23, US$1 was equivalent to 6.64 yuan.