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Jiangsu Tongrun Equipment Technology Q1 profit climbs 17.9% YOY

Jiangsu Tongrun Equipment Technology Co. Ltd. said its first-quarter normalized net income was 4 fen per share, a gain of 28.9% from 3 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 10.8 million yuan, an increase of 17.9% from 9.1 million yuan in the prior-year period.

The normalized profit margin climbed to 4.9% from 4.3% in the year-earlier period.

Total revenue climbed 5.1% year over year to 222.9 million yuan from 212.0 million yuan, and total operating expenses increased 5.2% from the prior-year period to 206.5 million yuan from 196.2 million yuan.

Reported net income grew 14.4% from the prior-year period to 12.7 million yuan, or 5 fen per share, from 11.1 million yuan, or 4 fen per share.

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