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Gansu Gangtai Holding (Group) Q1 profit climbs YOY

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Gansu Gangtai Holding (Group) Q1 profit climbs YOY

Gansu Gangtai Holding (Group) Co. Ltd. said its normalized net income for the first quarter was 6 fen per share, an increase from 3 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 69.7 million yuan, a gain from 33.9 million yuan in the year-earlier period.

The normalized profit margin fell to 3.0% from 6.8% in the year-earlier period.

Total revenue rose on an annual basis to 2.30 billion yuan from 496.9 million yuan, and total operating expenses climbed on an annual basis to 2.15 billion yuan from 439.0 million yuan.

Reported net income grew year over year to 95.8 million yuan, or 9 fen per share, from 36.7 million yuan, or 3 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.