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Sino-Life Group Q1 profit falls YOY

Sino-Life Group Ltd said its normalized net income for the first quarter was 726,380 yuan, a decrease of 27.2% from 997,130 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 4.5% from 4.3% in the year-earlier period.

Total revenue decreased 30.1% on an annual basis to 16.2 million yuan from 23.2 million yuan, and total operating expenses declined 29.7% from the prior-year period to 15.6 million yuan from 22.2 million yuan.

Reported net income fell 42.1% year over year to 687,000 yuan, or 0 fen per share, from 1.2 million yuan, or 0 fen per share.

As of May 14, US$1 was equivalent to 6.20 yuan.