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Shenwan Hongyuan Group Q2 profit climbs 31.7% YOY

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Shenwan Hongyuan Group Q2 profit climbs 31.7% YOY

Shenwan Hongyuan Group Co., Ltd. said its second-quarter normalized net income amounted to 4 fen per share, a gain of 29.2% from 3 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 898.9 million yuan, an increase of 31.7% from 682.3 million yuan in the prior-year period.

The normalized profit margin climbed to 28.0% from 21.7% in the year-earlier period.

Total revenue grew year over year to 3.21 billion yuan from 3.15 billion yuan, and total operating expenses decreased 13.5% on an annual basis to 1.71 billion yuan from 1.98 billion yuan.

Reported net income totaled 1.08 billion yuan, or 5 fen per share, compared with 1.06 billion yuan, or 5 fen per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 6.67 yuan.