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Jiangsu Yunyi Electric Q1 profit climbs 22.3% YOY

Jiangsu Yunyi Electric Co. Ltd. said its normalized net income for the first quarter amounted to 2 fen per share, a gain of 25.0% 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 17.0 million yuan, an increase of 22.3% from 13.9 million yuan in the prior-year period.

The normalized profit margin rose to 14.1% from 12.5% in the year-earlier period.

Total revenue climbed 13.0% year over year to 126.1 million yuan from 111.6 million yuan, and total operating expenses rose 7.9% year over year to 99.3 million yuan from 92.0 million yuan.

Reported net income grew 30.5% from the prior-year period to 24.5 million yuan, or 3 fen per share, from 18.8 million yuan, or 2 fen per share.

As of April 21, US$1 was equivalent to 6.48 yuan.