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Meisheng Cultural & Creative Q1 profit climbs YOY

Meisheng Cultural & Creative Corp. Ltd. said its normalized net income for the first quarter was 15.8 million yuan, an increase from 6.2 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 32.1% from 12.3% in the year-earlier period.

Total revenue rose year over year to 52.5 million yuan from 50.7 million yuan, and total operating expenses increased 15.0% from the prior-year period to 50.4 million yuan from 43.8 million yuan.

Reported net income rose from the prior-year period to 8.5 million yuan, or 1 fen per share, from 4.0 million yuan, or 1 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.