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Anhui Golden Seed Winery Q1 profit falls YOY

Anhui Golden Seed Winery Co. Ltd. said its first-quarter normalized net income came to 5 fen per share, a decline of 11.6% from 5 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 26.3 million yuan, a decrease of 11.5% from 29.7 million yuan in the year-earlier period.

The normalized profit margin fell to 5.1% from 5.2% in the year-earlier period.

Total revenue fell 9.2% on an annual basis to 521.5 million yuan from 574.6 million yuan, and total operating expenses fell 8.5% from the prior-year period to 494.2 million yuan from 540.1 million yuan.

Reported net income decreased 32.0% on an annual basis to 22.1 million yuan, or 4 fen per share, from 32.4 million yuan, or 6 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.