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Guangdong Tonze Electric Q3 profit climbs 22.1% YOY

Guangdong Tonze Electric Co. Ltd. said its third-quarter normalized net income was 4 fen per share, an increase of 21.9% from 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.3 million yuan, an increase of 22.1% from 7.6 million yuan in the year-earlier period.

The normalized profit margin climbed to 10.2% from 8.5% in the year-earlier period.

Total revenue grew year over year to 91.2 million yuan from 89.9 million yuan, and total operating expenses totaled 76.3 million yuan, compared with 77.0 million yuan in the year-earlier period.

Reported net income increased 25.0% on an annual basis to 13.0 million yuan, or 5 fen per share, from 10.4 million yuan, or 4 fen per share.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.