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Sichuan Langsha Holding swings to profit in Q1

Sichuan Langsha Holding Ltd. said its first-quarter normalized net income came to 1.5 million yuan, compared with a loss of 710,640 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 rose to 4.0% from negative 2.2% in the year-earlier period.

Total revenue grew 23.6% year over year to 39.2 million yuan from 31.7 million yuan, and total operating expenses rose 11.6% from the prior-year period to 37.4 million yuan from 33.5 million yuan.

Reported net income rose year over year to 3.6 million yuan, or 4 fen per share, from 415,270 yuan, or 0 fen per share.

As of April 27, US$1 was equivalent to 6.50 yuan.