July 22 - Xiamen Changelight (300102) posted a 45.68-percent year-on-year increase in net profits for the first half of 2011 to 87.87 million yuan, reports China Business News, citing a company filing. Sales revenues grew 40.27 percent year-on-year to 182 million yuan.

The firm's subsidiary in Yangzhou expanded capacity, which raised gross profit margins 2.27 percentage points to 63.69 percent.

Changelight expects to receive government subsidies of more than 100 million yuan later this year.

Changelight produces LED chips and gallium arsenide solar cell epitaxial wafers. Last September, it purchased 16 MOCVD reactors from Germany Aixtron AG for 201 million yuan.