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Maiquer Group Q2 profit climbs 10.8% YOY

Maiquer Group Co.Ltd. said its second-quarter normalized net income came to 12 fen per share, an increase of 24.7% 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 11.3 million yuan, a gain of 10.8% from 10.2 million yuan in the year-earlier period.

The normalized profit margin dropped to 9.1% from 10.8% in the year-earlier period.

Total revenue rose 29.8% year over year to 123.6 million yuan from 95.2 million yuan, and total operating expenses increased 30.3% year over year to 107.0 million yuan from 82.1 million yuan.

Reported net income increased 6.2% on an annual basis to 15.6 million yuan, or 16 fen per share, from 14.7 million yuan, or 14 fen per share.

As of Aug. 23, US$1 was equivalent to 6.64 yuan.