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Sichuan Langsha Holding Q2 profit falls YOY

Sichuan Langsha Holding Ltd. said its second-quarter normalized net income came to 994,410 yuan, a decrease of 60.1% from 2.5 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 declined to 2.9% from 6.4% in the year-earlier period.

Total revenue fell 6.1% year over year to 36.6 million yuan from 39.0 million yuan, and total operating expenses decreased from the prior-year period to 35.6 million yuan from 36.1 million yuan.

Reported net income totaled a loss of 505,320 yuan, or a loss of 1 fen per share, compared to income of 634,870 yuan, or 1 fen per share, in the year-earlier period.

As of Aug. 29, US$1 was equivalent to 6.68 yuan.