Sinoma Science & Technology reported a 28.37 per cent YoY decrease in net profit to CNY26.31m in the first quarter of 2011, reports Shanghai Securities News, citing a company filing.

Sales revenue fell 1.73 per cent to CNY470m, with earnings per share (EPS) of CNY0.13, down 45.83 per cent.

The Nanjing-based company attributed profit slump to lower product prices.
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