Baida Group Co. Ltd. said its normalized net income for the first quarter amounted to 7 fen per share, compared with 7 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 26.6 million yuan, compared with 26.6 million yuan in the year-earlier period.
The normalized profit margin increased to 9.6% from 8.9% in the year-earlier period.
Total revenue fell year over year to 291.7 million yuan from 300.5 million yuan, and total operating expenses declined year over year to 258.5 million yuan from 267.0 million yuan.
Reported net income fell 37.4% on an annual basis to 34.6 million yuan, or 9 fen per share, from 55.3 million yuan, or 15 fen per share.
As of April 30, US$1 was equivalent to 6.20 yuan.
