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Shenzhen Minkave Q1 profit climbs 9.7% YOY

Shenzhen Minkave Technology Co. Ltd. said its first-quarter normalized net income was 4 fen per share, an increase of 9.7% 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 7.9 million yuan, a gain of 9.7% from 7.2 million yuan in the year-earlier period.

The normalized profit margin climbed to 15.1% from 14.5% in the year-earlier period.

Total revenue grew 6.2% year over year to 52.7 million yuan from 49.7 million yuan, and total operating expenses rose on an annual basis to 38.6 million yuan from 37.0 million yuan.

Reported net income increased year over year to 9.9 million yuan, or 4 fen per share, from 9.5 million yuan, or 4 fen per share.

As of April 22, US$1 was equivalent to 6.50 yuan.