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Zhejiang VIE Science & Technology Q4 profit climbs 19.9% YOY

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Zhejiang VIE Science & Technology Q4 profit climbs 19.9% YOY

Zhejiang VIE Science & Technology Co. Ltd. said its fourth-quarter normalized net income amounted to 4 fen per share, an increase of 37.3% from 3 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 15.9 million yuan, a gain of 19.9% from 13.2 million yuan in the year-earlier period.

The normalized profit margin declined to 2.1% from 3.7% in the year-earlier period.

Total revenue increased 40.0% year over year to 500.7 million yuan from 357.7 million yuan, and total operating expenses increased 42.9% from the prior-year period to 466.1 million yuan from 326.1 million yuan.

Reported net income rose 22.6% from the prior-year period to 32.0 million yuan, or 8 fen per share, from 26.1 million yuan, or 6 fen per share.

For the year, the company's normalized net income totaled 14 fen per share, an increase of 10.3% from 13 fen per share in the prior year.

Normalized net income was 59.9 million yuan, a gain of 10.4% from 54.3 million yuan in the prior year.

Full-year total revenue rose 27.8% on an annual basis to 1.69 billion yuan from 1.32 billion yuan, and total operating expenses increased 29.5% year over year to 1.57 billion yuan from 1.21 billion yuan.

The company said reported net income increased 22.4% on an annual basis to 91.6 million yuan, or 22 fen per share, in the full year, from 74.8 million yuan, or 18 fen per share.

As of March 30, US$1 was equivalent to 6.47 yuan.