Changzhou Xingyu Automotive Lighting Systems Co. Ltd. said its normalized net income for the first quarter was 18 fen per share, compared with the S&P Capital IQ consensus estimate of 26 fen per share.
EPS climbed 12.7% year over year from 16 fen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 44.1 million yuan, an increase of 12.7% from 39.1 million yuan in the year-earlier period.
The normalized profit margin dropped to 8.3% from 9.1% in the year-earlier period.
Total revenue rose 29.9% year over year to 558.2 million yuan from 429.9 million yuan, and total operating expenses climbed 30.7% on an annual basis to 497.6 million yuan from 380.6 million yuan.
Reported net income increased 13.8% year over year to 60.0 million yuan, or 25 fen per share, from 52.7 million yuan, or 22 fen per share.
As of April 20, US$1 was equivalent to 6.20 yuan.
