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Shenzhen Minkave Q3 profit climbs YOY

Shenzhen Minkave Technology Co. Ltd. said its normalized net income for the third quarter was 8 fen per share, a gain from 4 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 21.0 million yuan, a gain from 8.4 million yuan in the year-earlier period.

The normalized profit margin rose to 25.0% from 15.0% in the year-earlier period.

Total revenue rose 49.7% year over year to 84.2 million yuan from 56.2 million yuan, and total operating expenses rose 19.9% on an annual basis to 50.4 million yuan from 42.1 million yuan.

Reported net income grew year over year to 25.1 million yuan, or 9 fen per share, from 9.5 million yuan, or 4 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.