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Zhongxing Shenyang Commercial Building Q3 profit falls YOY

Zhongxing Shenyang Commercial Building Group Co. Ltd. said its third-quarter normalized net income came to 2 fen per share, a decline from 2 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 5.9 million yuan, a decline from 6.2 million yuan in the prior-year period.

The normalized profit margin increased to 1.1% from 1.0% in the year-earlier period.

Total revenue declined 13.5% on an annual basis to 529.9 million yuan from 612.3 million yuan, and total operating expenses declined 14.3% year over year to 512.9 million yuan from 598.6 million yuan.

Reported net income rose 7.7% from the prior-year period to 6.7 million yuan, or 2 fen per share, from 6.2 million yuan, or 2 fen per share.

As of Oct. 24, US$1 was equivalent to 6.77 yuan.