Xtep International Holdings Ltd said its normalized net income for the first half was 14 fen per share, an increase of 19.4% from 12 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 304.7 million yuan, a gain of 18.2% from 257.7 million yuan in the year-earlier period.

Total revenue increased 12.0% year over year to 2.39 billion yuan from 2.13 billion yuan, and total operating expenses climbed 9.9% from the prior-year period to 1.95 billion yuan from 1.77 billion yuan.

Reported net income increased 20.8% from the prior-year period to 343.5 million yuan, or 16 fen per share, from 284.2 million yuan, or 13 fen per share.

As of Aug. 20, US$1 was equivalent to 6.39 yuan.