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BanBao Q2 profit climbs 22.8% YOY

BanBao Co. Ltd. said its second-quarter normalized net income amounted to 5 fen per share, a gain of 56.2% 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 10.3 million yuan, an increase of 22.8% from 8.4 million yuan in the year-earlier period.

The normalized profit margin increased to 14.7% from 12.0% in the year-earlier period.

Total revenue rose year over year to 72.8 million yuan from 70.3 million yuan, and total operating expenses came to 57.5 million yuan, compared with 57.4 million yuan in the prior-year period.

Reported net income increased 24.9% on an annual basis to 14.7 million yuan, or 7 fen per share, from 11.8 million yuan, or 4 fen per share.

As of July 29, US$1 was equivalent to 6.63 yuan.