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BanBao Q3 profit climbs 26.7% YOY

BanBao Co. Ltd. said its third-quarter normalized net income came to 10 fen per share, a gain of 18.1% from 8 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 16.2 million yuan, an increase of 26.7% from 12.8 million yuan in the prior-year period.

The normalized profit margin rose to 16.9% from 14.9% in the year-earlier period.

Total revenue rose 11.6% on an annual basis to 96.1 million yuan from 86.1 million yuan, and total operating expenses increased 8.4% from the prior-year period to 71.1 million yuan from 65.6 million yuan.

Reported net income grew 48.1% from the prior-year period to 22.1 million yuan, or 13 fen per share, from 14.9 million yuan, or 10 fen per share.

As of Nov. 23, US$1 was equivalent to 6.39 yuan.