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Jiangsu Huaxicun Q2 profit climbs YOY

Jiangsu Huaxicun Co. Ltd. said its normalized net income for the second quarter was 5 fen per share, a gain from 1 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 38.1 million yuan, an increase from 10.1 million yuan in the year-earlier period.

The normalized profit margin rose to 7.0% from 1.7% in the year-earlier period.

Total revenue decreased 8.2% year over year to 546.7 million yuan from 595.6 million yuan, and total operating expenses fell 9.1% on an annual basis to 521.7 million yuan from 573.9 million yuan.

Reported net income rose year over year to 58.0 million yuan, or 7 fen per share, from 19.0 million yuan, or 2 fen per share.

As of July 27, US$1 was equivalent to 6.21 yuan.