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Lontrue Q1 profit falls YOY

Lontrue Co. Ltd. said its first-quarter normalized net income amounted to 4.3 million yuan, a decline of 5.9% from 4.6 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 dropped to 2.6% from 3.8% in the year-earlier period.

Total revenue rose 41.4% year over year to 169.3 million yuan from 119.7 million yuan, and total operating expenses increased 42.2% on an annual basis to 156.3 million yuan from 109.9 million yuan.

Reported net income increased 8.2% on an annual basis to 8.0 million yuan, or 2 fen per share, from 7.4 million yuan, or 2 fen per share.

As of April 21, US$1 was equivalent to 6.20 yuan.