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Shenwan Hongyuan Group Q1 profit climbs 250.6% YOY


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Shenwan Hongyuan Group Q1 profit climbs 250.6% YOY

Shenwan Hongyuan Group Co., Ltd. said its normalized net income for the first quarter came to 12 fen per share, an increase of 209.8% from 4 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 2.27 billion yuan, a gain of 250.6% from 647.1 million yuan in the year-earlier period.

The normalized profit margin increased to 37.4% from 24.8% in the year-earlier period.

Total revenue rose 132.9% on an annual basis to 6.07 billion yuan from 2.60 billion yuan, and total operating expenses grew 68.8% on an annual basis to 2.35 billion yuan from 1.39 billion yuan.

Reported net income grew 258.6% from the prior-year period to 2.57 billion yuan, or 14 fen per share, from 715.7 million yuan, or 4 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.