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Shanghai Bairun Investment Q1 profit falls YOY

Shanghai Bairun Investment Holding Group Co. Ltd. said its normalized net income for the first quarter came to 3 fen per share, a decrease 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 9.8 million yuan, a decline from 9.9 million yuan in the year-earlier period.

The normalized profit margin climbed to 32.2% from 27.8% in the year-earlier period.

Total revenue climbed 10.6% on an annual basis to 39.3 million yuan from 35.5 million yuan, and total operating expenses increased 16.8% year over year to 26.7 million yuan from 22.9 million yuan.

Reported net income totaled 13.5 million yuan, or 4 fen per share, compared to 13.4 million yuan, or 4 fen per share, in the prior-year period.

As of April 24, US$1 was equivalent to 6.19 yuan.