BOE Technology Group Co. Ltd. said its normalized net income for the first quarter came to 1.95 billion yuan, an increase of 847.5% from 205.6 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 8.9% from 1.7% in the year-earlier period.
Total revenue climbed 77.7% year over year to 21.85 billion yuan from 12.30 billion yuan, and total operating expenses grew 37.3% from the prior-year period to 17.96 billion yuan from 13.08 billion yuan.
Reported net income increased 2,127.6% on an annual basis to 2.41 billion yuan, or 7 fen per share, from 108.3 million yuan, or 0 fen per share.
As of April 24, US$1 was equivalent to 6.89 yuan.