Guangdong Bobaolon Co. Ltd. said its normalized net income for the first quarter came to 23.3 million yuan, a gain of 50.9% from 15.4 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 14.3% from 13.1% in the year-earlier period.
Total revenue increased 37.6% on an annual basis to 162.6 million yuan from 118.2 million yuan, and total operating expenses rose 35.4% on an annual basis to 122.4 million yuan from 90.4 million yuan.
Reported net income rose 51.1% on an annual basis to 31.7 million yuan, or 20 fen per share, from 21.0 million yuan.
As of June 10, US$1 was equivalent to 6.20 yuan.
