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Xingquan International Sports fiscal Q2 profit climbs 70.0% YOY

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Xingquan International Sports fiscal Q2 profit climbs 70.0% YOY

Xingquan International Sports Holdings Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 18 fen per share, an increase of 54.5% from 12 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 60.9 million yuan, an increase of 70.0% from 35.8 million yuan in the prior-year period.

The normalized profit margin rose to 15.8% from 11.6% in the year-earlier period.

Total revenue grew 24.8% year over year to 385.6 million yuan from 309.1 million yuan, and total operating expenses grew 20.5% from the prior-year period to 306.8 million yuan from 254.6 million yuan.

Reported net income grew 79.5% from the prior-year period to 76.4 million yuan, or 23 fen per share, from 42.5 million yuan, or 14 fen per share.

As of Feb. 13, US$1 was equivalent to 6.24 yuan.