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Inzone Group Q2 profit falls YOY

Inzone Group Co. Ltd. said its normalized net income for the second quarter was 5 fen per share, a decrease of 5.1% 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 23.8 million yuan, a decline of 5.0% from 25.0 million yuan in the year-earlier period.

The normalized profit margin increased to 0.8% from 0.6% in the year-earlier period.

Total revenue decreased 23.6% year over year to 2.98 billion yuan from 3.91 billion yuan, and total operating expenses fell 23.8% year over year to 2.90 billion yuan from 3.80 billion yuan.

Reported net income totaled 5.2 million yuan, or 1 fen per share, compared to a loss of 13.5 million yuan, or a loss of 3 fen per share, in the year-earlier period.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.