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DongFeng Automobile Q3 profit falls YOY

DongFeng Automobile Co. LTD said its third-quarter normalized net income amounted to 1 fen per share, a decrease of 49.3% from 2 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.6 million yuan, a decline of 49.4% from 48.7 million yuan in the prior-year period.

The normalized profit margin fell to 0.5% from 1.3% in the year-earlier period.

Total revenue decreased on an annual basis to 3.59 billion yuan from 3.73 billion yuan, and total operating expenses declined from the prior-year period to 3.68 billion yuan from 3.79 billion yuan.

Reported net income declined 95.0% year over year to 4.8 million yuan, or 0 fen per share, from 96.1 million yuan, or 5 fen per share.

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