May. 25, 2012 (China Knowledge) - China Kanghui Holdings<KH>, a leading domestic developer, manufacturer and marketer of orthopedic implants in China
, has posted RMB 29.7 million-net profit for the first quarter of this year, reflecting a YoY increase of 35% from RMB 22 million.
In the reporting period, the New York-listed firm's non-GAAP net profit grew 39.7% YoY from RMB 23.4 million to RMB 32.7 million.
Total revenues for the first quarter of 2012 increased 21.6% YoY to RMB 82.7 million from RMB 68 million.
The company reaped RMB 58.6 million in gross profits in the period from January to March 2012, up 20.3% from a year earlier.
As of Mar. 31, 2012, the company had RMB 324.2 million or around US$51.5 million in cash, compared with RMB 380.1 million it had at the end of last year.
China Kanghui also expects its revenue for 2012 to be in the range of RMB 392 million to RMB 403 million, representing YoY growth of 20% to 23%, and the firm's non-GAAP net profit is estimated to reach between RMB 146 million and RMB 153 million this year.