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Hainan HNA Infrastructure Investment Q1 profit falls YOY

Hainan HNA Infrastructure Investment Group Co. Ltd. said its normalized net income for the first quarter came to 3.1 million yuan, a decline of 19.7% from 3.9 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.9% from 1.4% in the year-earlier period.

Total revenue climbed 27.3% year over year to 355.5 million yuan from 279.3 million yuan, and total operating expenses increased 22.6% year over year to 310.9 million yuan from 253.6 million yuan.

Reported net income fell 94.0% on an annual basis to 328,060 yuan, or 0 fen per share, from 5.5 million yuan, or 1 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.