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Luzhou Bio-chem Technology swings to profit in Q4

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Luzhou Bio-chem Technology swings to profit in Q4

Luzhou Bio-chem Technology Ltd said its fourth-quarter normalized net income amounted to 5.8 million yuan, compared with a loss of 46.0 million yuan in the prior-year period.

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

The normalized profit margin increased to 1.1% from negative 9.9% in the year-earlier period.

Total revenue grew 12.5% on an annual basis to 520.7 million yuan from 462.8 million yuan, and total operating expenses fell year over year to 500.6 million yuan from 523.0 million yuan.

Reported net income totaled 8.0 million yuan, or 1 fen per share, compared to a loss of 72.2 million yuan, or a loss of 18 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 5 fen per share, compared with a loss of 32 fen per share in the prior year.

Normalized net income was 21.9 million yuan, compared with a loss of 126.4 million yuan in the prior year.

Full-year total revenue grew 17.2% year over year to 2.43 billion yuan from 2.07 billion yuan, and total operating expenses increased 5.5% year over year to 2.34 billion yuan from 2.22 billion yuan.

The company said reported net income totaled 28.4 million yuan, or 6 fen per share, in the full year, compared with a loss of 339.8 million yuan, or a loss of 86 fen per share, the prior year.

As of April 11, US$1 was equivalent to 6.46 yuan.