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Tianshui Zhongxing Bio-technology Q3 profit climbs 55.5% YOY

Tianshui Zhongxing Bio-technology Co. Ltd. said its normalized net income for the third quarter came to 8 fen per share, a gain of 19.4% from 7 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 27.6 million yuan, an increase of 55.5% from 17.7 million yuan in the prior-year period.

The normalized profit margin rose to 18.3% from 15.4% in the year-earlier period.

Total revenue increased 31.2% year over year to 150.8 million yuan from 114.9 million yuan, and total operating expenses rose 31.9% on an annual basis to 112.3 million yuan from 85.1 million yuan.

Reported net income rose 57.1% from the prior-year period to 44.5 million yuan, or 13 fen per share, from 28.3 million yuan, or 11 fen per share.

As of Oct. 24, US$1 was equivalent to 6.77 yuan.