August 1 -- Hai Nan Yedao Group (600238) reported a 95.97 percent year-on-year drop in first half 2011 net profit to 3.02 million yuan, with earnings per share of 0.01 yuan, reports p5w.net, citing a company filing.

Revenue rose 21.91 percent year-on-year to 608 million yuan during the reporting period.

Hai Nan Yedao Group forecasts a sharp decrease in net profit in the third quarter of 2011, due to losses recorded from its food and beverage business in the earlier part of the year.

The company had recorded significant returns from its investments in the third quarter of last year.