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Lao Feng Xiang expects 11.19% rise in H1 profit

Jul. 26, 2012 (China Knowledge) - Lao Feng Xiang Co Ltd<600612><900905>, which is principally engaged in production and distribution of gold and silver products, jewelry, diamond and related products, announced yesterday that it expects its net profit to grow 11.19% YoY to RMB 313 million in the first half of this year.

Basic earnings per share were estimated at RMB 0.72 during the period, said the company in a statement.

Lao Feng Xiang said the increase in net profit was due to strong sales and higher profitability of gold jewelry.

The company's operating revenue was forecast to increase 15.20% YoY to RMB 13.45 billion.

In the first quarter of this year, Lao Feng Xiang's net profit rose 18.98% YoY to RMB 168.24 million and its operating revenue increased 10.93% to RMB 7.20 billion.

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