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Shanghai Xuerong Biotechnology posts Q1 profit

Shanghai Xuerong Biotechnology Co. Ltd. said its normalized net income for the first quarter amounted to 11.3 million yuan.

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

The normalized profit margin was 9.3%.

Total revenue came to 234.9 million yuan, and total operating expenses came to 201.6 million yuan.

Reported net income totaled 21.7 million yuan, or 13 fen per share.

As of June 17, US$1 was equivalent to 6.21 yuan.