April 23, 2012

Chuying Agro-Pastoral's Q1 posts 147% net profit jump

Henan Chuying Agro-Pastoral Co Ltd, a Henan Province-based firm which is involved in the pig husbandry business, reported in its quarterly report that it recorded a 146.96% on-year surge in net profit to RMB105 million (US$16.7 million).

In the same period it earned a revenue of RMB375 million (US$59.49 million), up 93.94% from the same period of the previous year.

The company's net profit growth in the first six months is expected to be 30%-70%, according to the report.

It also announced that it will invest RMB300 million (US$48 million) to breed 100,000 pigs in West China's Tibet Autonomous Region.

Chuying's share price climbed 3.03% to close at RMB36.78 (US$5.83) on April 17.