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CGN Power H1 profit climbs 18.3% YOY

CGN Power Co. Ltd. said its first-half normalized net income was 6 fen per share, a gain of 18.3% from 5 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 2.64 billion yuan, an increase of 18.3% from 2.23 billion yuan in the prior-year period.

Total revenue rose 42.0% year over year to 21.13 billion yuan from 14.88 billion yuan, and total operating expenses increased 38.1% from the prior-year period to 11.97 billion yuan from 8.67 billion yuan.

Reported net income increased 63.5% from the prior-year period to 6.09 billion yuan, or 13 fen per share, from 3.72 billion yuan, or 8 fen per share.

As of Aug. 28, US$1 was equivalent to 6.63 yuan.