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Sichuan Chengfei Integration Technology swings to profit in Q1

Sichuan Chengfei Integration Technology Corp.Ltd said its normalized net income for the first quarter was 3.6 million yuan, compared with a loss of 2.3 million yuan in the year-earlier period.

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

The normalized profit margin climbed to 2.7% from negative 2.4% in the year-earlier period.

Total revenue grew year over year to 250.1 million yuan from 95.5 million yuan, and total operating expenses grew year over year to 233.9 million yuan from 112.3 million yuan.

Reported net income came to 9.4 million yuan, or 3 fen per share, compared to a loss of 7.2 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.