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Yunnan Hongxiang Q1 profit climbs 22.6% YOY

Yunnan Hongxiang Yixintang Pharmaceutical Co. Ltd. said its normalized net income for the first quarter came to 15 fen per share, a decline of 8.0% from 16 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 77.8 million yuan, a gain of 22.6% from 63.5 million yuan in the year-earlier period.

The normalized profit margin rose to 6.5% from 6.1% in the year-earlier period.

Total revenue climbed 15.5% on an annual basis to 1.20 billion yuan from 1.04 billion yuan, and total operating expenses rose 15.2% on an annual basis to 1.08 billion yuan from 935.8 million yuan.

Reported net income rose 16.0% on an annual basis to 90.6 million yuan, or 17 fen per share, from 78.1 million yuan, or 20 fen per share.

As of April 15, US$1 was equivalent to 6.21 yuan.