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Zhejiang Bangjie Digital Knitting Q3 profit falls YOY

Zhejiang Bangjie Digital Knitting Share Co. Ltd. said its normalized net income for the third quarter came to 2 fen per share, an increase of 18.6% from 2 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.3 million yuan, a decline of 14.7% from 9.7 million yuan in the prior-year period.

The normalized profit margin dropped to 10.1% from 12.8% in the year-earlier period.

Total revenue increased 7.9% year over year to 81.9 million yuan from 76.0 million yuan, and total operating expenses grew 6.9% on an annual basis to 74.0 million yuan from 69.2 million yuan.

Reported net income came to 7.9 million yuan, or 2 fen per share, compared to 11.0 million yuan, or 2 fen per share, in the year-earlier period.

As of Oct. 24, US$1 was equivalent to 6.77 yuan.