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Jiangsu Hongdou Industrial Q1 profit climbs 5.9% YOY

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Jiangsu Hongdou Industrial Q1 profit climbs 5.9% YOY

Jiangsu Hongdou Industrial Co. Ltd. said its first-quarter normalized net income came to 15.0 million yuan, a rise of 5.9% from 14.1 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 fell to 2.6% from 3.0% in the year-earlier period.

Total revenue rose 20.8% year over year to 578.3 million yuan from 478.7 million yuan, and total operating expenses climbed 23.5% year over year to 533.8 million yuan from 432.1 million yuan.

Reported net income came to 13.3 million yuan, or 1 fen per share, compared to 14.1 million yuan, or 1 fen per share, in the year-earlier period.

As of April 10, US$1 was equivalent to 6.20 yuan.