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Tonfang Guoxin Electronics' profit up 129% in H1

Aug. 6, 2012 (China Knowledge) - Tongfang Guoxin Electronics Co Ltd<002049>, formerly known as Tangshan Jingyuan Yufeng Electronics Co, announced that its net profit attributable to shareholders surged 129.28% YoY to RMB 48.96 million in the first half of this year.

According to a statement filed with Shenzhen Stock Exchange, basic earnings per share for the period were RMB 0.2, up 28% from a year earlier.

Operation revenue for the period reached RMB 275 million, 82.58% more than it realized in the same period of last year.

The company expects its net profit to rise between 170% YoY and 200% YoY to RMB 73.09 million and RMB 81.22 million in the first three quarter of this year.

Last month, the company said that it plans to buy a 96.49% stake in Shenzhen State Micro-Electronics Co Ltd to enter the specialized integrated circuit market.

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