Leo Group Co. Ltd. said its normalized net income for the third quarter amounted to 135.7 million yuan, a gain from 28.4 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 6.9% from 2.8% in the year-earlier period.

Total revenue increased 91.0% year over year to 1.96 billion yuan from 1.02 billion yuan, and total operating expenses increased 76.4% on an annual basis to 1.74 billion yuan from 983.6 million yuan.

Reported net income grew from the prior-year period to 162.7 million yuan, or 3 fen per share, from 16.6 million yuan, or 0 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.