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Guizhou Guihang Automotive Components Q3 profit climbs 51.3% YOY

Guizhou Guihang Automotive Components Co. Ltd. said its third-quarter normalized net income was 7 fen per share, a gain of 38.2% 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 20.4 million yuan, an increase of 51.3% from 13.5 million yuan in the prior-year period.

The normalized profit margin climbed to 2.8% from 2.0% in the year-earlier period.

Total revenue grew 21.8% on an annual basis to 799.8 million yuan from 656.6 million yuan, and total operating expenses climbed 19.2% year over year to 768.2 million yuan from 644.4 million yuan.

Reported net income rose 40.7% from the prior-year period to 27.7 million yuan, or 9 fen per share, from 19.7 million yuan, or 7 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.