Huangshan Tourism Development Co. Ltd. said its normalized net income for the fourth quarter was 1 fen per share, a decrease of 31.8% from 2 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 10.1 million yuan, a decline of 35.6% from 15.8 million yuan in the year-earlier period.
The normalized profit margin fell to 2.7% from 4.2% in the year-earlier period.
Total revenue rose 16.5% on an annual basis to 441.6 million yuan from 379.2 million yuan, and total operating expenses rose 14.5% year over year to 416.5 million yuan from 363.7 million yuan.
Reported net income came to 3.5 million yuan, or 1 fen per share, compared to a loss of 4.3 million yuan, or a loss of 1 fen per share, in the prior-year period.
For the year, the company's normalized net income totaled 35 fen per share, a gain of 27.3% from 28 fen per share in the prior year.
Normalized net income was 250.8 million yuan, a rise of 27.7% from 196.4 million yuan in the prior year.
Full-year total revenue increased 11.7% year over year to 1.66 billion yuan from 1.49 billion yuan, and total operating expenses increased 8.2% on an annual basis to 1.22 billion yuan from 1.13 billion yuan.
The company said reported net income rose 41.4% year over year to 295.8 million yuan, or 41 fen per share, in the full year, from 209.2 million yuan, or 29 fen per share.
As of April 13, US$1 was equivalent to 6.47 yuan.