Shenguan Holdings (Group) Ltd. said its normalized net income for the second half was 3 fen per share, a decline of 52.5% from 6 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 100.1 million yuan, a decline of 53.1% from 213.3 million yuan in the prior-year period.

Total revenue decreased 15.5% year over year to 618.9 million yuan from 732.1 million yuan, and total operating expenses increased 19.5% on an annual basis to 474.7 million yuan from 397.3 million yuan.

Reported net income fell 48.9% on an annual basis to 137.5 million yuan, or 4 fen per share, from 269.0 million yuan, or 8 fen per share.

For the year, the company's normalized net income totaled 6 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11 fen.

EPS declined 48.5% from 13 fen in the prior year.

Normalized net income was 211.4 million yuan, a decrease of 49.1% from 415.1 million yuan in the prior year.

Full-year total revenue fell 24.8% from the prior-year period to 1.05 billion yuan from 1.40 billion yuan, and total operating expenses fell on an annual basis to 738.9 million yuan from 750.6 million yuan.

The company said reported net income decreased 46.8% year over year to 291.3 million yuan, or 9 fen per share, in the full year, from 547.5 million yuan, or 16 fen per share.

As of April 14, US$1 was equivalent to 6.49 yuan.