Shanghai Jinjiang International Travel Co. Ltd. said its third-quarter normalized net income came to 204,180 yuan, a decrease of 88.9% from 1.8 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 increased to 0.6% from 0.3% in the year-earlier period.

Total revenue fell 26.5% year over year to 487.1 million yuan from 663.0 million yuan, and total operating expenses fell 25.3% on an annual basis to 497.7 million yuan from 666.5 million yuan.

Reported net income increased from the prior-year period to 2.2 million yuan, or 2 fen per share, from 2.1 million yuan, or 2 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.