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Meisheng Cultural & Creative Q2 profit climbs 67.1% YOY

Meisheng Cultural & Creative Corp. Ltd. said its normalized net income for the second quarter came to 3 fen per share, an increase of 71.0% from 2 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 23.5 million yuan, a gain of 67.1% from 14.1 million yuan in the year-earlier period.

The normalized profit margin rose to 24.4% from 15.1% in the year-earlier period.

Total revenue increased 10.8% on an annual basis to 103.1 million yuan from 93.1 million yuan, and total operating expenses grew 20.2% from the prior-year period to 91.2 million yuan from 75.9 million yuan.

Reported net income increased 75.7% on an annual basis to 31.6 million yuan, or 4 fen per share, from 18.0 million yuan, or 2 fen per share.

As of Aug. 19, US$1 was equivalent to 6.65 yuan.