Hongwei’s Net Profit Up 60% to RMB 29.3 million in 1H2007
• Revenue surged 84% to RMB 152.8 million
• Earnings per share rose 51%
• Expansion plans on track
Singapore, 13 August 2007 – SGX Mainboard-listed Hongwei Technologies Limited, a PRC-based polyester fibre manufacturer and supplier serving more than 600 customers, today reported a sterling set of results, with net profit surging 60% to hit RMB 29.3 million for the six months ended 30 June 2007.
The Board is very pleased with this set of results, and is optimistic about Group performance in FY2007. With our new factory targeted for completion in 3rd quarter this year, we will be able to gradually double our production capacity of Synthetic Cotton from the current capacity of 8,000 tonnes to 16,000 tonnes in 2008. With the introduction of the new anti-flammable Synthetic Cotton series, which is expected to contribute not less than 10% to Group gross profit for FY2007, the gross profit of the Group is expected to further improve in the second half of the year.
<------------ Ok.. I just vested.. main reason... winter's coming to China... Synthetic cotton should be in higher demand.. right?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment