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Maiquer Group Q4 profit climbs YOY

Maiquer Group Co.Ltd. said its normalized net income for the fourth quarter came to 5 fen per share, an increase from 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.6 million yuan, a gain from 2.1 million yuan in the prior-year period.

The normalized profit margin rose to 5.3% from 3.0% in the year-earlier period.

Total revenue increased on an annual basis to 152.9 million yuan from 69.4 million yuan, and total operating expenses climbed from the prior-year period to 146.7 million yuan from 67.6 million yuan.

Reported net income increased year over year to 14.2 million yuan, or 13 fen per share, from 4.0 million yuan, or 5 fen per share.

For the year, the company's normalized net income totaled 42 fen per share, a gain of 36.3% from 31 fen per share in the prior year.

Normalized net income was 45.3 million yuan, an increase of 64.6% from 27.5 million yuan in the prior year.

Full-year total revenue rose 61.2% year over year to 518.1 million yuan from 321.4 million yuan, and total operating expenses grew 61.9% on an annual basis to 455.3 million yuan from 281.2 million yuan.

The company said reported net income grew 72.0% on an annual basis to 71.2 million yuan, or 66 fen per share, in the full year, from 41.4 million yuan, or 46 fen per share.

As of March 30, US$1 was equivalent to 6.47 yuan.