Anxian Yuan China Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to HK$2.2 million, a decline of 69.8% from HK$7.4 million in the year-earlier period.

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

Total revenue climbed 11.0% on an annual basis to HK$51.9 million from HK$46.7 million, and total operating expenses increased 37.9% from the prior-year period to HK$47.8 million from HK$34.7 million.

Reported net income decreased 64.5% on an annual basis to HK$2.1 million, or 0 cents per share, from HK$5.8 million, or 0 cents per share.