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Xinjiang Youhao Q1 profit falls YOY

Xinjiang Youhao (Group) Co. Ltd. said its normalized net income for the first quarter amounted to 6 fen per share, a decline of 40.9% from 10 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 18.5 million yuan, a decline of 40.9% from 31.3 million yuan in the year-earlier period.

The normalized profit margin dropped to 1.4% from 1.7% in the year-earlier period.

Total revenue declined 9.0% year over year to 1.65 billion yuan from 1.81 billion yuan, and total operating expenses decreased year over year to 1.63 billion yuan from 1.71 billion yuan.

Reported net income decreased 25.4% from the prior-year period to 37.0 million yuan, or 12 fen per share, from 49.6 million yuan, or 16 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.