China Automotive Engineering Research Institute Co. Ltd. said its fourth-quarter normalized net income was 11 fen per share, compared with the S&P Capital IQ consensus estimate of 11 fen per share.
EPS increased year over year from 5 fen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 105.7 million yuan, a gain from 45.0 million yuan in the prior-year period.
The normalized profit margin increased to 23.5% from 7.7% in the year-earlier period.
Total revenue decreased 24.2% on an annual basis to 442.2 million yuan from 583.1 million yuan, and total operating expenses declined 40.0% from the prior-year period to 301.3 million yuan from 502.0 million yuan.
Reported net income increased 64.1% year over year to 165.3 million yuan, or 17 fen per share, from 100.8 million yuan, or 11 fen per share.
For the year, the company's normalized net income totaled 23 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 24 fen.
EPS rose 17.6% from 20 fen in the prior year.
Normalized net income was 224.3 million yuan, an increase of 19.8% from 187.3 million yuan in the prior year.
Full-year total revenue fell 23.3% year over year to 1.20 billion yuan from 1.57 billion yuan, and total operating expenses fell 31.1% year over year to 916.6 million yuan from 1.33 billion yuan.
The company said reported net income declined 24.8% year over year to 310.9 million yuan, or 32 fen per share, in the full year, from 413.4 million yuan, or 43 fen per share.
As of March 25, US$1 was equivalent to 6.51 yuan.