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Chongqing Fuling Zhacai Q2 profit falls YOY

Chongqing Fuling Zhacai Group Co. Ltd. said its second-quarter normalized net income was 5 fen per share, a decline from 5 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 36.8 million yuan, a decrease from 37.3 million yuan in the prior-year period.

The normalized profit margin rose to 15.0% from 14.2% in the year-earlier period.

Total revenue declined on an annual basis to 251.0 million yuan from 262.8 million yuan, and total operating expenses declined 5.6% on an annual basis to 196.0 million yuan from 207.7 million yuan.

Reported net income totaled 50.3 million yuan, or 6 fen per share, compared to 50.5 million yuan, or 7 fen per share, in the prior-year period.

As of July 21, US$1 was equivalent to 6.21 yuan.