Hefei Meiling Co. Ltd. said its first-quarter normalized net income came to 6 fen per share, a gain of 26.0% from 5 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 47.9 million yuan, an increase of 25.9% from 38.0 million yuan in the prior-year period.
The normalized profit margin climbed to 1.8% from 1.5% in the year-earlier period.
Total revenue grew on an annual basis to 2.69 billion yuan from 2.61 billion yuan, and total operating expenses climbed from the prior-year period to 2.64 billion yuan from 2.57 billion yuan.
Reported net income grew 11.0% year over year to 55.0 million yuan, or 7 fen per share, from 49.5 million yuan, or 6 fen per share.
As of April 17, US$1 was equivalent to 6.20 yuan.
