Shanghai Jiaoda Onlly Co. Ltd. said its normalized net income for the second quarter was 2 fen per share, a decline of 60.6% from 5 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 16.0 million yuan, a decrease of 59.9% from 39.9 million yuan in the year-earlier period.
The normalized profit margin fell to 32.5% from 78.4% in the year-earlier period.
Total revenue increased on an annual basis to 51.5 million yuan from 50.9 million yuan, and total operating expenses fell 28.3% year over year to 59.3 million yuan from 82.7 million yuan.
Reported net income declined 30.9% year over year to 26.5 million yuan, or 3 fen per share, from 38.3 million yuan, or 5 fen per share.
As of Aug. 22, US$1 was equivalent to 6.64 yuan.