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Anhui Zhongding Sealing Parts Q1 profit climbs 31.2% YOY

Anhui Zhongding Sealing Parts Co. Ltd. said its normalized net income for the first quarter was 16 fen per share, a gain of 30.5% from 12 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 178.6 million yuan, an increase of 31.2% from 136.1 million yuan in the year-earlier period.

The normalized profit margin climbed to 10.3% from 9.4% in the year-earlier period.

Total revenue climbed 22.6% year over year to 1.77 billion yuan from 1.44 billion yuan, and total operating expenses grew 21.7% on an annual basis to 1.47 billion yuan from 1.21 billion yuan.

Reported net income grew 32.0% from the prior-year period to 235.8 million yuan, or 21 fen per share, from 178.6 million yuan, or 16 fen per share.

As of April 29, US$1 was equivalent to 6.48 yuan.