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99 Wuxian H2 profit climbs YOY

99 Wuxian Ltd said its second-half normalized net income amounted to 8.4 million yuan, a gain from 1.2 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue rose 22.2% year over year to 111.3 million yuan from 91.1 million yuan, and total operating expenses rose 21.3% year over year to 97.8 million yuan from 80.6 million yuan.

Reported net income rose from the prior-year period to 8.5 million yuan, or 1 fen per share, from 989,490 yuan, or 0 fen per share.

For the year, the company's normalized net income totaled 10.1 million yuan, a gain of 81.3% from 5.6 million yuan in the prior year.

Full-year total revenue grew 24.7% from the prior-year period to 192.3 million yuan from 154.2 million yuan, and total operating expenses increased 25.8% on an annual basis to 175.6 million yuan from 139.7 million yuan.

The company said reported net income grew 46.1% on an annual basis to 10.2 million yuan, or 1 fen per share, in the full year, from 7.0 million yuan, or 1 fen per share.

As of March 30, US$1 was equivalent to 6.47 yuan.