Jiangsu Holly Corp. said its normalized net income for the first quarter came to 4 fen per share, an increase 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 9.8 million yuan, an increase from 4.3 million yuan in the prior-year period.
The normalized profit margin climbed to 1.1% from 0.5% in the year-earlier period.
Total revenue climbed 10.5% year over year to 921.3 million yuan from 833.5 million yuan, and total operating expenses rose 10.6% on an annual basis to 916.9 million yuan from 829.1 million yuan.
Reported net income rose 37.4% year over year to 4.6 million yuan, or 2 fen per share, from 3.3 million yuan, or 1 fen per share.
As of April 29, US$1 was equivalent to 6.20 yuan.
