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Henan Shuanghui Investment profit misses consensus by 33.9% in Q2

Henan Shuanghui Investment & Development Co. Ltd. said its normalized net income for the second quarter amounted to 24 fen per share, compared with the S&P Capital IQ consensus estimate of 37 fen per share.

EPS decreased year over year from 25 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 806.8 million yuan, a decrease from 830.9 million yuan in the prior-year period.

The normalized profit margin dropped to 6.6% from 8.0% in the year-earlier period.

Total revenue climbed 22.7% on an annual basis to 12.79 billion yuan from 10.42 billion yuan, and total operating expenses climbed 25.3% year over year to 11.47 billion yuan from 9.15 billion yuan.

Reported net income increased on an annual basis to 1.08 billion yuan, or 33 fen per share, from 1.06 billion yuan, or 32 fen per share.

As of Aug. 16, US$1 was equivalent to 6.63 yuan.