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Shanxi Xinghuacun Fen Wine Factory Q1 profit falls 27.2% YOY

Shanxi Xinghuacun Fen Wine Factory Co. Ltd. said its normalized net income for the first quarter amounted to 22 fen per share, compared with the S&P Capital IQ consensus estimate of 20 fen per share.

EPS declined 27.2% year over year from 31 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 193.8 million yuan, a decline of 27.2% from 266.4 million yuan in the prior-year period.

The normalized profit margin fell to 13.5% from 17.1% in the year-earlier period.

Total revenue decreased 7.8% year over year to 1.44 billion yuan from 1.56 billion yuan, and total operating expenses totaled 1.10 billion yuan, compared with 1.10 billion yuan in the year-earlier period.

Reported net income declined 37.1% year over year to 215.3 million yuan, or 25 fen per share, from 342.3 million yuan, or 40 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.