Manufacturing News

Jiangzhong Pharmaceutical soars over 8% on 2009 profit rise

Shares in Jiangxi Jiangzhong Pharmaceutical, one of China's major medicine makers, soared 8.27 percent to close at 27.9 yuan (4.1 U.S. dollars) per share on Wednesday (January 27) after a 43-percent increase in annual net profits last year.

It rose as much as 9.24 percent in the afternoon trading session, close to its daily limit of 10 percent.

In a brief statement of its 2009 annual report filed to the Shanghai Stock Exchange, the company said its total profit reached 239.2 million yuan in 2009, up 43 percent from a year earlier. Its earnings per share rose 30 percent to 0.66 yuan in 2009.

The profit figures have not yet been audited. Jiangzhong did not give reasons behind profit increase.

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