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Xiamen Comfort Q2 profit falls YOY

Ogawa Smart Healthcare Technology Group Co. Ltd. said its normalized net income for the second quarter amounted to 3 fen per share, a decline of 31.3% from 4 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.0 million yuan, a decrease of 23.9% from 23.6 million yuan in the year-earlier period.

The normalized profit margin declined to 1.8% from 3.6% in the year-earlier period.

Total revenue climbed 10.1% on an annual basis to 716.7 million yuan from 651.2 million yuan, and total operating expenses increased 10.9% on an annual basis to 692.0 million yuan from 623.9 million yuan.

Reported net income fell 15.1% year over year to 48.7 million yuan, or 8 fen per share, from 57.4 million yuan, or 11 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.