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China Candy swings to profit in Q2

China Candy Holdings Ltd. said its normalized net income for the second quarter came to 502,500 yuan, compared with a loss of 719,380 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 2.7% from negative 3.8% in the year-earlier period.

Total revenue came to 18.7 million yuan, compared with 18.7 million yuan in the prior-year period, and total operating expenses grew on an annual basis to 17.2 million yuan from 16.4 million yuan.

Reported net income came to 512,000 yuan, or 0 fen per share, compared to a loss of 1.5 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 6.64 yuan.