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Shenzhen Huijie Q1 profit climbs 18.4% YOY

Shenzhen Huijie Group Co. Ltd. said its normalized net income for the first quarter was 71.6 million yuan, a gain of 18.4% from 60.5 million yuan in the prior-year period.

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

The normalized profit margin rose to 14.9% from 13.2% in the year-earlier period.

Total revenue increased 8.9% year over year to 499.1 million yuan from 458.3 million yuan, and total operating expenses grew 6.6% on an annual basis to 386.1 million yuan from 362.3 million yuan.

Reported net income rose 14.9% on an annual basis to 83.4 million yuan, or 29 fen per share, from 72.6 million yuan.

As of May 25, US$1 was equivalent to 6.20 yuan.