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FuJian YanJing HuiQuan Brewery Q2 profit climbs YOY

FuJian YanJing HuiQuan Brewery Co. Ltd. said its second-quarter normalized net income was 5 fen per share, a decrease of 44.3% from 9 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 14.4 million yuan, compared with 14.3 million yuan in the prior-year period.

The normalized profit margin rose to 6.3% from 5.6% in the year-earlier period.

Total revenue decreased on an annual basis to 246.0 million yuan from 256.5 million yuan, and total operating expenses decreased year over year to 225.8 million yuan from 236.1 million yuan.

Reported net income increased 14.9% from the prior-year period to 24.8 million yuan, or 8 fen per share, from 21.5 million yuan, or 13 fen per share.

As of Aug. 11, US$1 was equivalent to 6.32 yuan.