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China CIFCO Investment Q1 profit climbs YOY

China CIFCO Investment Co. Ltd. said its first-quarter normalized net income came to 3.2 million yuan, a rise from 1.3 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 14.2% from 6.9% in the year-earlier period.

Total revenue grew 16.5% on an annual basis to 22.3 million yuan from 19.2 million yuan, and total operating expenses increased 12.6% from the prior-year period to 23.9 million yuan from 21.3 million yuan.

Reported net income grew on an annual basis to 5.0 million yuan, or 1 fen per share, from 2.1 million yuan, or 1 fen per share.

As of April 28, US$1 was equivalent to 6.20 yuan.