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Shenzhen Fenda Technology Q2 profit climbs 64.2% YOY

Shenzhen Fenda Technology Co. Ltd. said its second-quarter normalized net income amounted to 4 fen per share, an increase of 37.9% 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 45.3 million yuan, an increase of 64.2% from 27.6 million yuan in the year-earlier period.

The normalized profit margin dropped to 10.7% from 12.0% in the year-earlier period.

Total revenue climbed 93.0% year over year to 445.2 million yuan from 230.7 million yuan, and total operating expenses climbed 91.7% from the prior-year period to 374.1 million yuan from 195.1 million yuan.

Reported net income rose 81.8% on an annual basis to 62.8 million yuan, or 5 fen per share, from 34.5 million yuan, or 3 fen per share.

As of Aug. 7, US$1 was equivalent to 6.21 yuan.