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Shanghai Jiao Yun Q1 profit falls YOY

Shanghai Jiao Yun Group Co., Ltd. said its normalized net income for the first quarter was 7 fen per share, a decline of 16.0% from 8 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 59.5 million yuan, a decline of 16.0% from 70.8 million yuan in the prior-year period.

The normalized profit margin climbed to 3.1% from 3.1% in the year-earlier period.

Total revenue declined 11.9% year over year to 2.03 billion yuan from 2.30 billion yuan, and total operating expenses fell 12.4% from the prior-year period to 1.91 billion yuan from 2.18 billion yuan.

Reported net income rose from the prior-year period to 80.4 million yuan, or 9 fen per share, from 79.5 million yuan, or 9 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.