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Minsheng Holdings Q3 profit climbs YOY

Minsheng Holdings Co. Ltd. said its normalized net income for the third quarter was 25.0 million yuan, a rise from 4.1 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 22.6% from 6.1% in the year-earlier period.

Total revenue climbed 62.6% year over year to 110.7 million yuan from 68.1 million yuan, and total operating expenses rose 18.9% on an annual basis to 92.2 million yuan from 77.6 million yuan.

Reported net income totaled 13.3 million yuan, or 2 fen per share, compared to a loss of 44.0 million yuan, or a loss of 8 fen per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.