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Hangzhou Jiebai Q3 profit falls YOY

Hangzhou Jiebai Group Co.Ltd.. said its third-quarter normalized net income was 3 fen per share, a decline of 17.1% from 4 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 19.5 million yuan, a decrease of 16.7% from 23.4 million yuan in the year-earlier period.

The normalized profit margin declined to 1.8% from 2.2% in the year-earlier period.

Total revenue totaled 1.08 billion yuan, compared with 1.08 billion yuan in the prior-year period, and total operating expenses increased year over year to 1.02 billion yuan from 1.01 billion yuan.

Reported net income declined 19.6% from the prior-year period to 25.5 million yuan, or 4 fen per share, from 31.7 million yuan, or 5 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.