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China Automotive Engineering Research Q1 profit climbs 11.9% YOY

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China Automotive Engineering Research Q1 profit climbs 11.9% YOY

4911571 said its first-quarter normalized net income came to 6 fen per share, an increase of 15.2% from 5 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 52.9 million yuan, a gain of 11.9% from 47.3 million yuan in the year-earlier period.

The normalized profit margin increased to 24.3% from 16.9% in the year-earlier period.

Total revenue fell 21.9% on an annual basis to 218.8 million yuan from 280.3 million yuan, and total operating expenses declined 28.4% from the prior-year period to 161.6 million yuan from 225.9 million yuan.

eported net income rose 6.7% on an annual ba China Automotive Engineering Research Institute Co. Ltd..