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BOE Technology Group Q3 profit climbs 219.3% YOY

BOE Technology Group Co. Ltd. said its third-quarter normalized net income came to 5 fen per share, a gain of 215.2% from 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.84 billion yuan, a gain of 219.3% from 574.9 million yuan in the year-earlier period.

The normalized profit margin increased to 7.4% from 3.0% in the year-earlier period.

Total revenue grew 27.9% on an annual basis to 24.80 billion yuan from 19.39 billion yuan, and total operating expenses climbed 20.6% year over year to 21.59 billion yuan from 17.91 billion yuan.

Reported net income grew 230.7% from the prior-year period to 2.17 billion yuan, or 6 fen per share, from 657.1 million yuan, or 2 fen per share.

As of Oct. 30, US$1 was equivalent to 6.65 yuan.