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Shenzhen Kondarl (Group) Q2 profit falls YOY

Shenzhen Kondarl (Group) Co. Ltd. said its second-quarter normalized net income amounted to 2 fen per share, a decline of 94.0% from 30 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 7.0 million yuan, a decrease of 94.0% from 116.0 million yuan in the prior-year period.

The normalized profit margin fell to 1.9% from 13.4% in the year-earlier period.

Total revenue declined 51.1% on an annual basis to 423.7 million yuan from 865.6 million yuan, and total operating expenses fell 39.9% on an annual basis to 408.9 million yuan from 680.7 million yuan.

Reported net income declined 94.8% on an annual basis to 7.2 million yuan, or 2 fen per share, from 138.3 million yuan, or 35 fen per share.

As of Aug. 29, US$1 was equivalent to 6.68 yuan.