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Shanghai Jiaoda Onlly Q4 profit falls YOY

Shanghai Jiaoda Onlly Co. Ltd. said its fourth-quarter normalized net income amounted to 3 fen per share, a decrease of 36.6% 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 20.1 million yuan, a decrease of 36.5% from 31.6 million yuan in the year-earlier period.

The normalized profit margin declined to 33.7% from 37.5% in the year-earlier period.

Total revenue fell 26.9% year over year to 61.5 million yuan from 84.1 million yuan, and total operating expenses rose 43.6% on an annual basis to 133.9 million yuan from 93.2 million yuan.

Reported net income declined 58.8% on an annual basis to 20.7 million yuan, or 3 fen per share, from 50.3 million yuan, or 6 fen per share.

For the year, the company's normalized net income totaled 12 fen per share, an increase of 57.6% from 7 fen per share in the prior year.

Normalized net income was 91.4 million yuan, a gain of 57.8% from 57.9 million yuan in the prior year.

Full-year total revenue fell 25.6% from the prior-year period to 251.9 million yuan from 338.6 million yuan, and total operating expenses increased on an annual basis to 369.8 million yuan from 354.7 million yuan.

The company said reported net income grew 17.0% year over year to 99.3 million yuan, or 13 fen per share, in the full year, from 84.9 million yuan, or 11 fen per share.

As of March 4, US$1 was equivalent to 6.51 yuan.