Beijing Sanyuan Foods Co. Ltd. said its normalized net income for the first quarter came to 12.3 million yuan, a gain of 76.3% from 7.0 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 1.2% from 0.6% in the year-earlier period.
Total revenue increased year over year to 1.15 billion yuan from 1.12 billion yuan, and total operating expenses grew on an annual basis to 1.15 billion yuan from 1.10 billion yuan.
Reported net income rose year over year to 16.8 million yuan, or 1 fen per share, from 7.2 million yuan, or 1 fen per share.
As of April 26, US$1 was equivalent to 6.50 yuan.