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Chongqing Sokon Q3 profit climbs YOY

Chongqing Sokon Industry Group Stock Co. Ltd. said its normalized net income for the third quarter came to 8 fen per share, an increase from 1 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 63.6 million yuan, an increase from 9.5 million yuan in the year-earlier period.

The normalized profit margin rose to 1.9% from 0.5% in the year-earlier period.

Total revenue grew year over year to 3.87 billion yuan from 1.77 billion yuan, and total operating expenses climbed on an annual basis to 3.75 billion yuan from 1.81 billion yuan.

Reported net income totaled 94.9 million yuan, or 12 fen per share, compared to a loss of 13.0 million yuan, or a loss of 2 fen per share, in the year-earlier period.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.