Liaoning Wellhope Agri-Tech JSC Ltd. said its first-quarter normalized net income came to 5 fen per share, an increase of 76.9% from 3 fen per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.9 million yuan, an increase from 21.4 million yuan in the year-earlier period.
The normalized profit margin increased to 2.3% from 1.2% in the year-earlier period.
Total revenue grew 6.7% on an annual basis to 1.97 billion yuan from 1.85 billion yuan, and total operating expenses rose 6.2% on an annual basis to 1.91 billion yuan from 1.80 billion yuan.
Reported net income increased year over year to 48.7 million yuan, or 6 fen per share, from 19.2 million yuan, or 3 fen per share.
As of April 28, US$1 was equivalent to 6.20 yuan.
