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China Golden Classic Q3 profit falls YOY

China Golden Classic Group Ltd. said its third-quarter normalized net income was 5.4 million yuan, a decline of 42.9% from 9.5 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 fell to 6.9% from 11.9% in the year-earlier period.

Total revenue decreased 9.4% on an annual basis to 72.6 million yuan from 80.1 million yuan, and total operating expenses came to 64.8 million yuan, compared with 64.7 million yuan in the year-earlier period.

Reported net income fell 42.8% on an annual basis to 6.0 million yuan, or 1 fen per share, from 10.5 million yuan, or 1 fen per share.

As of Nov. 14, US$1 was equivalent to 6.85 yuan.