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Yuan Longping High-tech Agriculture profit misses consensus by 35.7% in Q1

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Yuan Longping High-tech Agriculture profit misses consensus by 35.7% in Q1

Yuan Longping High-tech Agriculture Co. Ltd. said its normalized net income for the first quarter amounted to 10 fen per share, compared with the S&P Capital IQ consensus estimate of 15 fen per share.

EPS rose year over year from 9 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 96.1 million yuan, a gain from 92.2 million yuan in the prior-year period.

The normalized profit margin declined to 16.8% from 17.7% in the year-earlier period.

Total revenue grew 9.8% year over year to 571.0 million yuan from 520.1 million yuan, and total operating expenses increased 10.7% from the prior-year period to 419.9 million yuan from 379.2 million yuan.

Reported net income grew 6.3% year over year to 147.3 million yuan, or 15 fen per share, from 138.6 million yuan, or 14 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.