Shanghai Join Buy Co. Ltd. said its normalized net income for the first quarter was 9.8 million yuan, a rise from 3.6 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 37.3% from 12.0% in the year-earlier period.
Total revenue fell 11.8% year over year to 26.2 million yuan from 29.7 million yuan, and total operating expenses fell 19.4% from the prior-year period to 32.9 million yuan from 40.8 million yuan.
Reported net income increased from the prior-year period to 15.7 million yuan, or 4 fen per share, from 5.9 million yuan, or 1 fen per share.
As of April 28, US$1 was equivalent to 6.20 yuan.
