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Shanghai Jahwa United profit misses consensus by 28.3% in Q1

Shanghai Jahwa United Co. Ltd. said its first-quarter normalized net income was 21 fen per share, compared with the S&P Capital IQ consensus estimate of 29 fen per share.

EPS increased 17.6% year over year from 18 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 141.8 million yuan, a gain of 17.0% from 121.2 million yuan in the prior-year period.

The normalized profit margin increased to 9.0% from 9.0% in the year-earlier period.

Total revenue rose 18.5% year over year to 1.59 billion yuan from 1.35 billion yuan, and total operating expenses rose 18.1% year over year to 1.42 billion yuan from 1.20 billion yuan.

Reported net income rose 16.0% on an annual basis to 189.8 million yuan, or 28 fen per share, from 163.6 million yuan, or 24 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.