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Hefei Meiling's H1 profits rise 503%
(chinadaily.com.cn)
Updated: 2010-08-06 11:06
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Heifei Meiling reports 5-fold profits surge in the first half of this year. [Asianewsphoto] |
Hefei Meiling Electronic Co Ltd saw its net profit in the first half of this year skyrocket 503 percent year-on-year to 219 million yuan, with earnings per share standing at 0.53 yuan.
The firm's total revenues were 4.58 billion yuan in H1 2010, up by 34.85 percent from a year ago.
Hefei Meiling attributed the net profit surge in H1 to the benefits brought by rural home appliance subsidies and the home appliances replacement program in China. Meanwhile, the company also gained 1150 million yuan, which accounted 52.5 percent of its net profits, through selling 3.62 million shares of Anhui Ustc iFlytek Co.