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Zhejiang Zhongjian Technology Q3 profit falls YOY

Zhejiang Zhongjian Technology Co. Ltd. said its normalized net income for the third quarter was 11 fen per share, a decline of 26.4% from 14 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 10.6 million yuan, a decrease of 27.4% from 14.5 million yuan in the prior-year period.

The normalized profit margin rose to 11.4% from 10.7% in the year-earlier period.

Total revenue decreased 31.4% year over year to 93.1 million yuan from 135.7 million yuan, and total operating expenses declined 27.6% from the prior-year period to 81.0 million yuan from 111.9 million yuan.

Reported net income declined 24.4% year over year to 15.2 million yuan, or 15 fen per share, from 20.1 million yuan, or 20 fen per share.

As of Nov. 23, US$1 was equivalent to 6.39 yuan.