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Shenzhen Soling Industrial Q2 profit climbs 7.0% YOY

Shenzhen Soling Industrial Co. Ltd. said its second-quarter normalized net income came to 5 fen per share, compared with 5 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 14.7 million yuan, an increase of 7.0% from 13.8 million yuan in the prior-year period.

The normalized profit margin increased to 7.4% from 6.5% in the year-earlier period.

Total revenue increased on an annual basis to 214.9 million yuan from 212.5 million yuan, and total operating expenses totaled 187.9 million yuan, compared with 188.0 million yuan in the prior-year period.

Reported net income increased 12.2% from the prior-year period to 20.4 million yuan, or 8 fen per share, from 18.2 million yuan, or 7 fen per share.

As of Aug. 19, US$1 was equivalent to 6.40 yuan.