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Zhejiang Guyuelongshan Shaoxing Wine Q2 profit climbs 64.6% YOY

Zhejiang Guyuelongshan Shaoxing Wine Co. Ltd. said its second-quarter normalized net income came to 11.8 million yuan, an increase of 64.6% from 7.2 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 increased to 5.8% from 3.8% in the year-earlier period.

Total revenue climbed 15.9% year over year to 221.5 million yuan from 191.0 million yuan, and total operating expenses increased 16.9% on an annual basis to 206.2 million yuan from 176.4 million yuan.

Reported net income rose 65.3% year over year to 14.1 million yuan, or 2 fen per share, from 8.5 million yuan, or 1 fen per share.

As of July 28, US$1 was equivalent to 6.21 yuan.