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Hangzhou XZB Tech Q3 profit climbs 80.1% YOY

Hangzhou XZB Tech Co. Ltd. said its normalized net income for the third quarter came to 18 fen per share, an increase of 80.1% from 10 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 8.3 million yuan, an increase of 80.1% from 4.6 million yuan in the year-earlier period.

The normalized profit margin increased to 23.3% from 19.8% in the year-earlier period.

Total revenue grew 63.3% on an annual basis to 37.9 million yuan from 23.2 million yuan, and total operating expenses increased 55.7% year over year to 24.7 million yuan from 15.9 million yuan.

Reported net income grew 61.1% from the prior-year period to 12.0 million yuan, or 27 fen per share, from 7.5 million yuan, or 17 fen per share.

As of Jan. 19, US$1 was equivalent to 6.88 yuan.