Jiangsu Sanfangxiang Industry Co. Ltd. said its normalized net income for the first quarter came to 7.1 million yuan, a gain of 81.0% from 3.9 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 3.6% from 1.5% in the year-earlier period.
Total revenue decreased year over year to 251.9 million yuan from 257.9 million yuan, and total operating expenses declined 5.9% year over year to 233.0 million yuan from 247.5 million yuan.
Reported net income declined 7.6% from the prior-year period to 11.3 million yuan, or 1 fen per share, from 12.3 million yuan, or 2 fen per share.
As of April 27, US$1 was equivalent to 6.22 yuan.
