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Sieyuan Electric's Q1 Profit Rises 23%, Revenue Climbs 42%; Shares Down 6%

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Sieyuan Electric's (SHE:002028) net profit attributable to shareholders in the first quarter rose 23% year on year to almost 550 million yuan, or 0.70 yuan per share, according to a Shenzhen bourse filing on Saturday.

The power transmission and distribution equipment manufacturer's shares dropped 6% during Monday's morning trade.

The attributable profit a year earlier was 446.5 million yuan, or 0.57 yuan per share.

Operating revenue climbed 42% to 4.57 billion yuan from 3.23 billion yuan in the previous year.

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