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Qinghai Huzhu Barley Wine Q1 profit climbs YOY

Qinghai Huzhu Barley Wine Co. Ltd. said its normalized net income for the first quarter amounted to 29 fen per share, an increase from 28 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 128.5 million yuan, an increase from 124.5 million yuan in the prior-year period.

The normalized profit margin increased to 23.8% from 23.4% in the year-earlier period.

Total revenue climbed year over year to 542.7 million yuan from 532.4 million yuan, and total operating expenses totaled 335.2 million yuan, compared with 337.1 million yuan in the year-earlier period.

Reported net income rose from the prior-year period to 160.3 million yuan, or 36 fen per share, from 153.4 million yuan, or 34 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.