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Shanghai Jiao Yun Q1 profit falls YOY

Shanghai Jiao Yun Group Co., Ltd. said its normalized net income for the first quarter came to 6 fen per share, a decline of 17.2% from 7 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 52.4 million yuan, a decrease of 17.2% from 63.3 million yuan in the prior-year period.

The normalized profit margin rose to 3.3% from 3.1% in the year-earlier period.

Total revenue decreased on an annual basis to 1.94 billion yuan from 2.03 billion yuan, and total operating expenses decreased from the prior-year period to 1.84 billion yuan from 1.91 billion yuan.

Reported net income declined from the prior-year period to 77.4 million yuan, or 9 fen per share, from 80.4 million yuan, or 9 fen per share.

As of April 28, US$1 was equivalent to 6.48 yuan.