Zhongbai Holdings Group Co. Ltd. said its normalized net income for the first quarter came to 5 fen per share, a decrease of 57.3% from 12 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 35.2 million yuan, a decline of 55.7% from 79.4 million yuan in the year-earlier period.
The normalized profit margin fell to 1.0% from 1.7% in the year-earlier period.
Total revenue fell year over year to 4.74 billion yuan from 4.79 billion yuan, and total operating expenses came to 4.66 billion yuan, compared with 4.69 billion yuan in the year-earlier period.
Reported net income declined 44.2% from the prior-year period to 49.4 million yuan, or 7 fen per share, from 88.6 million yuan, or 13 fen per share.
As of April 29, US$1 was equivalent to 6.20 yuan.
