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Sichuan Datong Gas Development Q2 profit climbs 20.8% YOY

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Capital Markets View – January 2021


Sichuan Datong Gas Development Q2 profit climbs 20.8% YOY

Sichuan Datong Gas Development Co. Ltd. said its normalized net income for the second quarter amounted to 2 fen per share, a gain of 7.0% from 1 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 4.8 million yuan, a gain of 20.8% from 4.0 million yuan in the year-earlier period.

The normalized profit margin fell to 2.9% from 4.2% in the year-earlier period.

Total revenue rose 35.9% on an annual basis to 129.2 million yuan from 95.1 million yuan, and total operating expenses rose 34.4% on an annual basis to 119.4 million yuan from 88.8 million yuan.

Reported net income decreased year over year to 4.5 million yuan, or 1 fen per share, from 4.7 million yuan, or 2 fen per share.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.