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Inovance Technology Q1 Profit Down 23%; Shares Fall 7%

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-- Shenzhen Inovance Technology (SHE:300124) posted first-quarter attributable net profit of 1.01 billion yuan, down 23% from 1.32 billion yuan the previous year.

Earnings per share declined to 0.37 yuan from 0.49 yuan, according to a Tuesday filing with the Shenzhen bourse.

Revenue climbed 13% year over year to 10.1 billion yuan from 8.98 billion yuan.

Shares of the robot maker fell 7% in recent trade.

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