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Besttone Holding Q3 profit climbs 68.7% YOY

Besttone Holding Co. Ltd. said its third-quarter normalized net income was 2 fen per share, a gain of 68.7% from 1 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 9.1 million yuan, an increase of 68.7% from 5.4 million yuan in the year-earlier period.

The normalized profit margin increased to 3.7% from 0.4% in the year-earlier period.

Total revenue decreased 63.2% year over year to 450.8 million yuan from 1.22 billion yuan, and total operating expenses decreased 63.2% from the prior-year period to 447.4 million yuan from 1.22 billion yuan.

Reported net income rose 54.0% year over year to 11.3 million yuan, or 2 fen per share, from 7.3 million yuan, or 1 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.