Shenzhen Tellus Holding Co. Ltd. said its normalized net income for the first quarter amounted to 4.0 million yuan, an increase from 853,330 yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 5.0% from 1.0% in the year-earlier period.

Total revenue fell year over year to 79.7 million yuan from 81.3 million yuan, and total operating expenses fell on an annual basis to 73.4 million yuan from 76.7 million yuan.

Reported net income grew from the prior-year period to 6.2 million yuan, or 2 fen per share, from 788,020 yuan, or 0 fen per share.

As of April 28, US$1 was equivalent to 6.48 yuan.