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Tonghua Grape Wine Q1 profit climbs YOY

Tonghua Grape Wine Co. Ltd. said its first-quarter normalized net income came to 2.0 million yuan, a gain from 277,550 yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.0% from 1.6% in the year-earlier period.

Total revenue rose on an annual basis to 104.1 million yuan from 17.5 million yuan, and total operating expenses grew on an annual basis to 96.1 million yuan from 17.3 million yuan.

Reported net income grew on an annual basis to 2.7 million yuan, or 1 fen per share, from 420,730 yuan, or 0 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.