MeiHua Holdings Group Co. Ltd. said its first-quarter normalized net income amounted to 5 fen per share, a gain from 2 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 137.5 million yuan, an increase from 61.1 million yuan in the year-earlier period.
The normalized profit margin climbed to 4.6% from 2.9% in the year-earlier period.
Total revenue grew 47.5% year over year to 3.10 billion yuan from 2.10 billion yuan, and total operating expenses increased 42.1% on an annual basis to 2.76 billion yuan from 1.94 billion yuan.
Reported net income grew year over year to 181.3 million yuan, or 6 fen per share, from 75.1 million yuan, or 2 fen per share.
As of April 21, US$1 was equivalent to 6.20 yuan.
