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Chengdu Xingrong Inv't reports 40.24% surge in 2011 profit

Feb. 3, 2012 (China Knowledge) - Chengdu Xingrong Investment Co Ltd<000598>, mainly engaged in water supply and sewage treatment, said yesterday that its net profit rose 40.24% year on year to RMB 588 million in 2011.

Basic earnings per share were RMB 0.51. The company has declared a final dividend of RMB 1 per ten shares.

The company said in its annual report that its operating revenue grew 19.08% year on year to RMB 1.92 billion last year.

The running water business generated RMB 1.18 billion in operating revenue, 24.68% more than in 2010, and RMB 298 million in net profit, up 62.68% year on year.

The company also said that it plans to issue up to 346 million shares via a rights issue. Proceeds from the deal will be injected into fully-owned subsidiary Chengdu Municipal Waterworks Co to fund a water project.

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