Henan Shuanghui Investment & Development Co. Ltd. said its normalized net income for the first quarter amounted to 22 fen per share, compared with the S&P Capital IQ consensus estimate of 28 fen per share.
EPS fell 17.4% year over year from 27 fen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 733.2 million yuan, a decline of 17.4% from 887.5 million yuan in the year-earlier period.
The normalized profit margin dropped to 7.5% from 8.7% in the year-earlier period.
Total revenue declined on an annual basis to 9.93 billion yuan from 10.24 billion yuan, and total operating expenses fell on an annual basis to 8.77 billion yuan from 8.89 billion yuan.
Reported net income declined 14.6% year over year to 920.8 million yuan, or 28 fen per share, from 1.08 billion yuan, or 33 fen per share.
As of April 29, US$1 was equivalent to 6.20 yuan.