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Laobaixing Pharmacy Q1 profit climbs 16.7% YOY

Laobaixing Pharmacy Chain Joint Stock Company said its normalized net income for the first quarter was 26 fen per share, a gain of 16.8% from 22 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 51.3 million yuan, a gain of 16.7% from 44.0 million yuan in the prior-year period.

The normalized profit margin increased to 4.9% from 4.7% in the year-earlier period.

Total revenue grew 13.0% on an annual basis to 1.05 billion yuan from 927.2 million yuan, and total operating expenses rose 12.8% from the prior-year period to 946.2 million yuan from 838.9 million yuan.

Reported net income increased 17.8% year over year to 65.6 million yuan, or 33 fen per share, from 55.7 million yuan, or 28 fen per share.

As of April 22, US$1 was equivalent to 6.19 yuan.