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Beijing Jingkelong Q1 profit falls YOY

Beijing Jingkelong Company Ltd said its first-quarter normalized net income was 22.0 million yuan, a decrease of 23.4% from 28.7 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.7% from 0.9% in the year-earlier period.

Total revenue grew 6.7% year over year to 3.33 billion yuan from 3.12 billion yuan, and total operating expenses rose 7.3% on an annual basis to 3.22 billion yuan from 3.00 billion yuan.

Reported net income totaled 26.9 million yuan, compared with 35.3 million yuan in the prior-year period.

As of April 24, US$1 was equivalent to 6.19 yuan.