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Dongfeng Electronic Technology Q3 profit falls YOY

Dongfeng Electronic Technology Co. Ltd. said its third-quarter normalized net income amounted to 2 fen per share, a decrease of 36.9% from 4 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.1 million yuan, a decline of 36.9% from 11.2 million yuan in the prior-year period.

The normalized profit margin dropped to 0.7% from 1.1% in the year-earlier period.

Total revenue climbed year over year to 1.09 billion yuan from 1.05 billion yuan, and total operating expenses grew 5.6% from the prior-year period to 1.06 billion yuan from 1.01 billion yuan.

Reported net income declined 6.6% from the prior-year period to 16.9 million yuan, or 5 fen per share, from 18.1 million yuan, or 6 fen per share.

As of Oct. 21, US$1 was equivalent to 6.77 yuan.