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Fosun International swings to profit in H1

Fosun International Ltd. said its first-half normalized net income amounted to 19.0 million yuan, compared with a loss of 1.91 billion yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew 11.6% on an annual basis to 36.27 billion yuan from 32.50 billion yuan, and total operating expenses rose 6.3% from the prior-year period to 37.97 billion yuan from 35.74 billion yuan.

Reported net income rose 33.5% on an annual basis to 5.88 billion yuan, or 68 fen per share, from 4.40 billion yuan, or 51 fen per share.

As of Sept. 26, US$1 was equivalent to 6.63 yuan.