Linhai Co. Ltd. said its first-quarter normalized net income amounted to 618,640 yuan, a gain of 81.4% from 341,130 yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 0.7% from 0.5% in the year-earlier period.
Total revenue climbed 11.6% year over year to 83.2 million yuan from 74.6 million yuan, and total operating expenses increased 11.8% year over year to 84.1 million yuan from 75.3 million yuan.
Reported net income rose 14.2% on an annual basis to 565,890 yuan, or 0 fen per share, from 495,530 yuan, or 0 fen per share.
As of April 24, US$1 was equivalent to 6.19 yuan.
