Anhui Huamao Textile Co. Ltd. said its normalized net income for the second quarter amounted to 40.8 million yuan, an increase from 7.4 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 climbed to 9.1% from 1.4% in the year-earlier period.
Total revenue fell 8.5% on an annual basis to 475.0 million yuan from 519.2 million yuan, and total operating expenses decreased 8.0% year over year to 483.8 million yuan from 526.0 million yuan.
Reported net income grew from the prior-year period to 54.3 million yuan, or 6 fen per share, from 9.7 million yuan, or 1 fen per share.
As of July 29, US$1 was equivalent to 6.21 yuan.