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Maiquer Group Q1 profit climbs 43.5% YOY

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Maiquer Group Q1 profit climbs 43.5% YOY

Maiquer Group Co. Ltd. said its first-quarter normalized net income came to 6 fen per share, a gain of 30.2% from 4 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 6.2 million yuan, an increase of 43.5% from 4.3 million yuan in the year-earlier period.

The normalized profit margin increased to 7.7% from 5.5% in the year-earlier period.

Total revenue increased on an annual basis to 82.0 million yuan from 78.6 million yuan, and total operating expenses grew on an annual basis to 74.0 million yuan from 71.5 million yuan.

Reported net income rose 46.9% on an annual basis to 8.7 million yuan, or 8 fen per share, from 5.9 million yuan, or 6 fen per share.

As of April 20, US$1 was equivalent to 6.20 yuan.