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He Bei Cheng De Lolo profit misses consensus by 28.3% in Q1

He Bei Cheng De Lolo Company Ltd said its normalized net income for the first quarter was 20 fen per share, compared with the S&P Capital IQ consensus estimate of 27 fen per share.

EPS declined year over year from 21 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 190.7 million yuan, a decline from 199.6 million yuan in the year-earlier period.

The normalized profit margin declined to 15.4% from 15.5% in the year-earlier period.

Total revenue decreased year over year to 1.25 billion yuan from 1.29 billion yuan, and total operating expenses fell on an annual basis to 934.3 million yuan from 958.7 million yuan.

Reported net income fell year over year to 229.6 million yuan, or 24 fen per share, from 239.3 million yuan, or 25 fen per share.

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