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Jiangsu Hongtu High Technology Q1 profit climbs YOY

Jiangsu Hongtu High Technology Co. Ltd. said its normalized net income for the first quarter was 9 fen per share, an increase from 4 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 103.0 million yuan, an increase from 47.9 million yuan in the prior-year period.

The normalized profit margin climbed to 2.3% from 1.1% in the year-earlier period.

Total revenue increased 7.4% year over year to 4.55 billion yuan from 4.24 billion yuan, and total operating expenses rose 7.8% on an annual basis to 4.41 billion yuan from 4.09 billion yuan.

Reported net income increased year over year to 140.1 million yuan, or 12 fen per share, from 56.7 million yuan, or 5 fen per share.

As of April 28, US$1 was equivalent to 6.20 yuan.