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Xixia Automobile Water Pump Q1 profit climbs 19.5% YOY

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Xixia Automobile Water Pump Q1 profit climbs 19.5% YOY

Henan Province Xixia Automobile Water Pump Co. Ltd. said its first-quarter normalized net income amounted to 4 fen per share, an increase of 18.6% from 3 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 10.1 million yuan, an increase of 19.5% from 8.5 million yuan in the year-earlier period.

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

Total revenue grew 25.8% year over year to 464.9 million yuan from 369.5 million yuan, and total operating expenses grew 24.3% from the prior-year period to 433.1 million yuan from 348.5 million yuan.

Reported net income grew 15.0% year over year to 15.3 million yuan, or 5 fen per share, from 13.3 million yuan, or 5 fen per share.

As of April 21, US$1 was equivalent to 6.20 yuan.