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Kuaijishan Shaoxing Rice Wine Q1 profit falls YOY

Kuaijishan Shaoxing Rice Wine Co. Ltd. said its first-quarter normalized net income was 12 fen per share, a decline of 24.9% from 16 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 46.1 million yuan, a decrease from 46.8 million yuan in the year-earlier period.

The normalized profit margin dropped to 18.7% from 20.6% in the year-earlier period.

Total revenue climbed 9.4% year over year to 248.9 million yuan from 227.5 million yuan, and total operating expenses climbed 16.0% year over year to 171.9 million yuan from 148.2 million yuan.

Reported net income increased 6.7% on an annual basis to 50.1 million yuan, or 13 fen per share, from 47.0 million yuan, or 16 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.