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Anhui Jianghuai Automobile profit misses consensus by 73.5% in Q2

Anhui Jianghuai Automobile Group Corp. Ltd. said its normalized net income for the second quarter was 10 fen per share, compared with the S&P Capital IQ consensus estimate of 36 fen per share.

EPS increased year over year from 3 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 136.2 million yuan, an increase from 35.7 million yuan in the year-earlier period.

The normalized profit margin increased to 1.5% from 0.3% in the year-earlier period.

Total revenue climbed 15.3% year over year to 12.38 billion yuan from 10.74 billion yuan, and total operating expenses increased 18.2% year over year to 12.79 billion yuan from 10.82 billion yuan.

Reported net income increased year over year to 321.9 million yuan, or 23 fen per share, from 147.1 million yuan, or 12 fen per share.

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