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Guangdong Wens Foodstuff Q2 profit climbs 53.0% YOY

Guangdong Wens Foodstuff Group Co. Ltd. said its normalized net income for the second quarter amounted to 617.6 million yuan, a rise of 53.0% from 403.7 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 5.6% from 5.0% in the year-earlier period.

Total revenue increased 30.4% on an annual basis to 10.54 billion yuan from 8.08 billion yuan, and total operating expenses rose 31.0% year over year to 9.67 billion yuan from 7.39 billion yuan.

Reported net income increased 73.4% year over year to 1.09 billion yuan, or 24 fen per share, from 629.1 million yuan.

As of July 30, US$1 was equivalent to 6.21 yuan.