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Zhejiang Dehong Automotive Electronic Q3 profit climbs 26.0% YOY

Zhejiang Dehong Automotive Electronic & Electrical Co. Ltd. said its third-quarter normalized net income was 11 fen per share, a decline of 9.5% from 12 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 13.0 million yuan, an increase of 26.0% from 10.3 million yuan in the year-earlier period.

The normalized profit margin increased to 13.8% from 11.8% in the year-earlier period.

Total revenue grew 11.1% on an annual basis to 97.5 million yuan from 87.8 million yuan, and total operating expenses increased 7.9% year over year to 77.7 million yuan from 72.0 million yuan.

Reported net income grew 21.9% from the prior-year period to 17.3 million yuan, or 14 fen per share, from 14.2 million yuan, or 16 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.