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Sichuan Haowu Electromechanical Q1 profit climbs 50.9% YOY

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Sichuan Haowu Electromechanical Q1 profit climbs 50.9% YOY

Sichuan Haowu Electromechanical Co. Ltd. said its first-quarter normalized net income came to 4.9 million yuan, a gain of 50.9% from 3.3 million 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 increased to 4.3% from 3.5% in the year-earlier period.

Total revenue grew 8.2% on an annual basis to 100.6 million yuan from 92.9 million yuan, and total operating expenses increased 11.9% on an annual basis to 93.3 million yuan from 83.4 million yuan.

Reported net income totaled 4.2 million yuan, or 1 fen per share, compared to 4.0 million yuan, or 1 fen per share, in the year-earlier period.

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