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Wuxi Commercial Mansion Grand Orient Q1 profit falls YOY

Wuxi Commercial Mansion Grand Orient Co. Ltd. said its normalized net income for the first quarter came to 10 fen per share, compared with 10 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 54.3 million yuan, compared with 54.8 million yuan in the year-earlier period.

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

Total revenue decreased on an annual basis to 2.32 billion yuan from 2.36 billion yuan, and total operating expenses declined year over year to 2.21 billion yuan from 2.25 billion yuan.

Reported net income totaled 67.1 million yuan, or 13 fen per share, compared to 67.0 million yuan, or 13 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.22 yuan.