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LiJiang YuLong Tourism profit misses consensus by 65.4% in Q4

LiJiang YuLong Tourism Co. Ltd. said its fourth-quarter normalized net income amounted to 2 fen per share, compared with the S&P Capital IQ consensus estimate of 5 fen per share.

EPS decreased 23.2% year over year from 2 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.0 million yuan, a decrease of 23.6% from 13.1 million yuan in the prior-year period.

The normalized profit margin declined to 5.1% from 7.1% in the year-earlier period.

Total revenue increased on an annual basis to 187.3 million yuan from 184.8 million yuan, and total operating expenses decreased from the prior-year period to 159.7 million yuan from 162.7 million yuan.

Reported net income fell 81.3% on an annual basis to 3.5 million yuan, or 1 fen per share, from 18.5 million yuan, or 3 fen per share.

For the year, the company's normalized net income totaled 25 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 40 fen.

EPS rose 19.1% from 21 fen in the prior year.

Normalized net income was 138.6 million yuan, a gain of 18.9% from 116.6 million yuan in the prior year.

Full-year total revenue rose 5.8% on an annual basis to 786.0 million yuan from 742.8 million yuan, and total operating expenses grew on an annual basis to 486.5 million yuan from 464.4 million yuan.

The company said reported net income increased 8.9% year over year to 197.3 million yuan, or 36 fen per share, in the full year, from 181.1 million yuan, or 33 fen per share.

As of March 14, US$1 was equivalent to 6.50 yuan.