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China Jishan Holdings swings to profit in Q2

China Jishan Holdings Ltd said its second-quarter normalized net income was 345,630 yuan, compared with a loss of 13.6 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 rose to 1.3% from negative 15.0% in the year-earlier period.

Total revenue fell 71.6% on an annual basis to 25.6 million yuan from 90.3 million yuan, and total operating expenses fell 81.3% from the prior-year period to 19.6 million yuan from 105.1 million yuan.

Reported net income totaled 4.5 million yuan, or 1 fen per share, compared to a loss of 9.2 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 6.32 yuan.