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Shanghai Jiao Yun Q3 profit falls YOY

Shanghai Jiao Yun Group Co., Ltd. said its third-quarter normalized net income amounted to 4 fen per share, a decline of 35.0% from 7 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 38.4 million yuan, a decline of 34.9% from 58.9 million yuan in the prior-year period.

The normalized profit margin dropped to 2.1% from 3.2% in the year-earlier period.

Total revenue increased 18.3% on an annual basis to 2.15 billion yuan from 1.81 billion yuan, and total operating expenses climbed 20.7% year over year to 2.07 billion yuan from 1.71 billion yuan.

Reported net income decreased 32.3% from the prior-year period to 57.4 million yuan, or 7 fen per share, from 84.8 million yuan, or 10 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.