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Beijing Shunxin Agriculture profit misses consensus by 22.0% in Q1

Beijing Shunxin Agriculture Co. Ltd. said its first-quarter normalized net income was 30 fen per share, compared with the S&P Capital IQ consensus estimate of 38 fen per share.

EPS declined 15.1% year over year from 35 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 169.1 million yuan, a gain of 10.5% from 153.0 million yuan in the year-earlier period.

The normalized profit margin rose to 5.2% from 4.8% in the year-earlier period.

Total revenue totaled 3.23 billion yuan, compared with 3.21 billion yuan in the prior-year period, and total operating expenses came to 2.92 billion yuan, compared with 2.92 billion yuan in the prior-year period.

Reported net income grew 6.2% year over year to 192.0 million yuan, or 34 fen per share, from 180.8 million yuan, or 41 fen per share.

As of April 20, US$1 was equivalent to 6.20 yuan.