Shanxi Xinghuacun Fen Wine Factory Co.Ltd. said its first-quarter normalized net income came to 29 fen per share, a gain of 27.6% from 22 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 247.3 million yuan, an increase of 27.6% from 193.8 million yuan in the prior-year period.

The normalized profit margin rose to 16.8% from 13.5% in the year-earlier period.

Total revenue climbed on an annual basis to 1.47 billion yuan from 1.44 billion yuan, and total operating expenses fell year over year to 1.06 billion yuan from 1.10 billion yuan.

Reported net income grew 36.9% year over year to 294.7 million yuan, or 34 fen per share, from 215.3 million yuan, or 25 fen per share.

As of April 22, US$1 was equivalent to 6.50 yuan.