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Zhejiang Zhongjian Technology Q3 profit falls YOY

Zhejiang Zhongjian Technology Co. Ltd. said its normalized net income for the third quarter was 7 fen per share, a decrease of 35.6% from 11 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 9.1 million yuan, a decrease of 14.4% from 10.6 million yuan in the year-earlier period.

The normalized profit margin declined to 9.1% from 11.4% in the year-earlier period.

Total revenue rose 7.4% year over year to 99.9 million yuan from 93.1 million yuan, and total operating expenses grew 5.9% on an annual basis to 86.7 million yuan from 81.9 million yuan.

Reported net income fell 13.2% on an annual basis to 13.2 million yuan, or 10 fen per share, from 15.2 million yuan, or 15 fen per share.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.