Tenfu (Cayman) Holdings Co. Ltd. said its first-half normalized net income was 6 fen per share, a decline of 15.5% from 7 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 75.4 million yuan, a decline of 17.0% from 90.8 million yuan in the year-earlier period.

Total revenue declined 5.8% on an annual basis to 740.9 million yuan from 786.3 million yuan, and total operating expenses declined year over year to 622.5 million yuan from 648.2 million yuan.

Reported net income decreased 17.9% from the prior-year period to 82.1 million yuan, or 7 fen per share, from 99.9 million yuan, or 8 fen per share.

As of Sept. 19, US$1 was equivalent to 6.67 yuan.