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Gansu Longshenrongfa Q3 profit falls YOY

Gansu Longshenrongfa Pharmaceutical Industry Co. Ltd. said its normalized net income for the third quarter came to 4 fen per share, a decline of 30.3% from 5 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 9.4 million yuan, a decline of 22.7% from 12.1 million yuan in the year-earlier period.

The normalized profit margin dropped to 14.3% from 20.6% in the year-earlier period.

Total revenue increased 11.4% year over year to 65.5 million yuan from 58.8 million yuan, and total operating expenses grew 32.9% from the prior-year period to 52.9 million yuan from 39.8 million yuan.

Reported net income declined 19.7% from the prior-year period to 12.9 million yuan, or 5 fen per share, from 16.1 million yuan, or 7 fen per share.

As of Oct. 25, US$1 was equivalent to 6.78 yuan.