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Zhejiang VIE Science & Technology Q2 profit climbs 12.2% YOY

Zhejiang VIE Science & Technology Co. Ltd. said its normalized net income for the second quarter amounted to 5 fen per share, a gain of 26.4% from 4 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.3 million yuan, an increase of 12.2% from 16.3 million yuan in the year-earlier period.

The normalized profit margin rose to 4.9% from 4.7% in the year-earlier period.

Total revenue rose 19.7% on an annual basis to 411.9 million yuan from 344.2 million yuan, and total operating expenses climbed 18.0% from the prior-year period to 371.6 million yuan from 314.9 million yuan.

Reported net income rose 36.9% from the prior-year period to 35.6 million yuan, or 9 fen per share, from 26.0 million yuan, or 6 fen per share.

As of Aug. 6, US$1 was equivalent to 6.21 yuan.