Yifeng Pharmacy Chain Co. Ltd. said its first-quarter normalized net income amounted to 14 fen per share, compared with 14 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 44.7 million yuan, an increase of 24.7% from 35.8 million yuan in the year-earlier period.

The normalized profit margin dropped to 5.4% from 5.6% in the year-earlier period.

Total revenue climbed 30.3% year over year to 833.5 million yuan from 639.5 million yuan, and total operating expenses climbed 31.2% on an annual basis to 764.0 million yuan from 582.3 million yuan.

Reported net income increased 27.1% on an annual basis to 52.3 million yuan, or 16 fen per share, from 41.1 million yuan, or 16 fen per share.

As of April 27, US$1 was equivalent to 6.50 yuan.