Tianshui Zhongxing Bio-technology Co. Ltd. said its fourth-quarter normalized net income came to 7 fen per share, a decrease of 11.4% from 8 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 25.0 million yuan, an increase of 39.4% from 17.9 million yuan in the year-earlier period.
The normalized profit margin declined to 14.2% from 14.5% in the year-earlier period.
Total revenue rose 29.0% year over year to 159.1 million yuan from 123.4 million yuan, and total operating expenses increased 35.4% on an annual basis to 118.9 million yuan from 87.8 million yuan.
Reported net income increased 35.4% year over year to 47.2 million yuan, or 13 fen per share, from 34.9 million yuan, or 15 fen per share.
For the year, the company's normalized net income totaled 23 fen per share, compared with 23 fen per share in the prior year.
Normalized net income was 64.6 million yuan, a rise of 22.7% from 52.7 million yuan in the prior year.
Full-year total revenue increased 25.0% from the prior-year period to 479.5 million yuan from 383.5 million yuan, and total operating expenses rose 25.5% year over year to 367.1 million yuan from 292.5 million yuan.
The company said reported net income grew 25.9% on an annual basis to 114.4 million yuan, or 40 fen per share, in the full year, from 90.9 million yuan, or 39 fen per share.
As of Feb. 25, US$1 was equivalent to 6.54 yuan.