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Hangzhou Great Star Industrial Q2 profit climbs 38.2% YOY

Hangzhou Great Star Industrial Co. Ltd. said its second-quarter normalized net income was 11 fen per share, a gain of 43.5% from 8 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 114.0 million yuan, a gain of 38.2% from 82.5 million yuan in the prior-year period.

The normalized profit margin climbed to 13.5% from 12.5% in the year-earlier period.

Total revenue rose 32.1% on an annual basis to 868.5 million yuan from 657.5 million yuan, and total operating expenses rose 24.0% from the prior-year period to 717.7 million yuan from 578.8 million yuan.

Reported net income grew 15.3% on an annual basis to 133.8 million yuan, or 13 fen per share, from 116.0 million yuan, or 11 fen per share.

As of Aug. 9, US$1 was equivalent to 6.65 yuan.