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Shandong Longlive Bio-Technology Q1 profit falls YOY

Shandong Longlive Bio-Technology Co. Ltd. said its normalized net income for the first quarter was 2 fen per share, a decline of 37.6% from 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.6 million yuan, a decrease of 39.9% from 12.6 million yuan in the prior-year period.

The normalized profit margin declined to 5.5% from 6.6% in the year-earlier period.

Total revenue decreased 11.7% on an annual basis to 167.9 million yuan from 190.1 million yuan, and total operating expenses declined 8.9% from the prior-year period to 148.6 million yuan from 163.1 million yuan.

Reported net income decreased 28.6% from the prior-year period to 11.9 million yuan, or 3 fen per share, from 16.6 million yuan, or 3 fen per share.

As of April 21, US$1 was equivalent to 6.20 yuan.