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XinJiang Korla Pear swings to profit in Q2

XinJiang Korla Pear Co. Ltd. said its second-quarter normalized net income amounted to 63,960 yuan, compared with a loss of 3.4 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 increased to 0.2% from negative 15.4% in the year-earlier period.

Total revenue grew 32.9% on an annual basis to 29.5 million yuan from 22.2 million yuan, and total operating expenses increased year over year to 29.4 million yuan from 28.2 million yuan.

Reported net income totaled 64,610 yuan, or 0 fen per share, compared to a loss of 5.4 million yuan, or a loss of 4 fen per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.