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Beijing Deinong Technology Q4 profit falls YOY

Beijing Dabeinong Technology Group Co. Ltd. said its fourth-quarter normalized net income amounted to 3 fen per share, a decrease of 16.0% 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 110.4 million yuan, a decline of 13.0% from 126.9 million yuan in the prior-year period.

The normalized profit margin declined to 2.2% from 2.9% in the year-earlier period.

Total revenue increased 13.0% on an annual basis to 5.02 billion yuan from 4.44 billion yuan, and total operating expenses grew 14.1% on an annual basis to 4.71 billion yuan from 4.13 billion yuan.

Reported net income decreased 7.7% year over year to 287.5 million yuan, or 8 fen per share, from 311.4 million yuan, or 9 fen per share.

For the year, the company's normalized net income totaled 15 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 27 fen.

EPS rose 13.5% from 13 fen in the prior year.

Normalized net income was 590.3 million yuan, a gain of 22.6% from 481.6 million yuan in the prior year.

Full-year total revenue rose from the prior-year period to 16.84 billion yuan from 16.10 billion yuan, and total operating expenses increased year over year to 15.78 billion yuan from 15.33 billion yuan.

The company said reported net income rose 25.1% on an annual basis to 882.7 million yuan, or 22 fen per share, in the full year, from 705.5 million yuan, or 19 fen per share.

As of March 31, US$1 was equivalent to 6.89 yuan.