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Lingyun Industrial Q2 profit climbs 6.6% YOY

Lingyun Industrial Corp. Ltd said its normalized net income for the second quarter was 10 fen per share, an increase of 10.3% from 9 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 38.1 million yuan, a gain of 6.6% from 35.8 million yuan in the prior-year period.

The normalized profit margin increased to 2.1% from 2.0% in the year-earlier period.

Total revenue grew 8.4% year over year to 1.90 billion yuan from 1.75 billion yuan, and total operating expenses rose 8.6% year over year to 1.73 billion yuan from 1.59 billion yuan.

Reported net income increased 22.5% on an annual basis to 72.6 million yuan, or 20 fen per share, from 59.3 million yuan, or 16 fen per share.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.