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Yunnan Hongxiang Q2 profit falls YOY

Yunnan Hongxiang Yixintang Pharmaceutical Co. Ltd. said its normalized net income for the second quarter came to 8 fen per share, a decline of 33.7% from 12 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 42.7 million yuan, a decrease of 11.5% from 48.3 million yuan in the year-earlier period.

The normalized profit margin dropped to 3.4% from 4.7% in the year-earlier period.

Total revenue rose 25.5% year over year to 1.30 billion yuan from 1.03 billion yuan, and total operating expenses rose 28.5% from the prior-year period to 1.23 billion yuan from 956.8 million yuan.

Reported net income grew 5.0% from the prior-year period to 83.4 million yuan, or 16 fen per share, from 79.5 million yuan, or 20 fen per share.

As of Aug. 7, US$1 was equivalent to 6.21 yuan.