Zhejiang Qianjiang Motorcycle Co. Ltd. said its second-quarter normalized net income was 2.2 million yuan, a fall of 62.2% from 5.7 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 dropped to 0.8% from 1.0% in the year-earlier period.
Total revenue fell on an annual basis to 579.2 million yuan from 597.5 million yuan, and total operating expenses totaled 598.1 million yuan, compared with 595.4 million yuan in the prior-year period.
Reported net income increased year over year to 7.0 million yuan, or 1 fen per share, from 494,040 yuan, or 0 fen per share.
As of Aug. 29, US$1 was equivalent to 6.68 yuan.