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Zhejiang Zhongjian Technology Q1 profit climbs 16.2% YOY

Zhejiang Zhongjian Technology Co. Ltd. said its normalized net income for the first quarter came to 8 fen per share, an increase of 18.4% from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.5 million yuan, an increase of 16.2% from 6.5 million yuan in the year-earlier period.

The normalized profit margin climbed to 6.5% from 5.8% in the year-earlier period.

Total revenue increased 12.1% on an annual basis to 124.7 million yuan from 111.3 million yuan, and total operating expenses grew 12.5% year over year to 113.8 million yuan from 101.1 million yuan.

Reported net income rose 20.9% year over year to 10.6 million yuan, or 11 fen per share, from 8.8 million yuan, or 9 fen per share.

As of June 25, US$1 was equivalent to 6.21 yuan.