Shanghai Chaori Solar Energy Science and Technology (002506) reported a 165.19 percent year-on-year increase in net profit to 132 million yuan in the first half of 2011, with earnings per share of 0.25 yuan, reports p5w.net, citing a company filing.

Sales revenue in the same period rose 74.92 percent year-on-year to 1.798 billion yuan.

The company attributed the increase in sales revenue to the rapid development of the European market, where the supply of solar modules is below market demand.