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Shenwan Hongyuan Group profit holds relatively steady YOY in Q3

Shenwan Hongyuan Group Co., Ltd. said its third-quarter normalized net income was 6 fen per share, compared with 6 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 1.16 billion yuan, compared with 1.16 billion yuan in the prior-year period.

The normalized profit margin rose to 32.4% from 28.6% in the year-earlier period.

Total revenue fell 12.1% year over year to 3.58 billion yuan from 4.07 billion yuan, and total operating expenses decreased 22.6% on an annual basis to 1.68 billion yuan from 2.17 billion yuan.

Reported net income declined 12.1% from the prior-year period to 1.53 billion yuan, or 8 fen per share, from 1.74 billion yuan, or 9 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.