Lanzhou Huanghe Enterprise Co. Ltd. said its normalized net income for the first quarter amounted to 18 fen per share, an increase 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 33.2 million yuan, an increase from 6.4 million yuan in the prior-year period.
The normalized profit margin climbed to 16.7% from 3.1% in the year-earlier period.
Total revenue declined on an annual basis to 201.3 million yuan from 208.9 million yuan, and total operating expenses decreased on an annual basis to 184.7 million yuan from 187.2 million yuan.
Reported net income rose on an annual basis to 68.4 million yuan, or 37 fen per share, from 2.3 million yuan, or 1 fen per share.
As of April 20, US$1 was equivalent to 6.20 yuan.
