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Anhui Zhongding Sealing Parts Q1 profit climbs 31.0% YOY

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Anhui Zhongding Sealing Parts Q1 profit climbs 31.0% YOY

Anhui Zhongding Sealing Parts Co. Ltd. said its first-quarter normalized net income was 12 fen per share, a gain of 31.4% from 9 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 132.4 million yuan, an increase of 31.0% from 101.1 million yuan in the year-earlier period.

The normalized profit margin declined to 9.4% from 9.5% in the year-earlier period.

Total revenue grew 35.6% on an annual basis to 1.44 billion yuan from 1.07 billion yuan, and total operating expenses increased 34.4% from the prior-year period to 1.21 billion yuan from 898.7 million yuan.

Reported net income rose 32.9% year over year to 178.6 million yuan, or 16 fen per share, from 134.4 million yuan, or 12 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.