June 28 -- Jiangsu Huaxicun (000936), a company mainly engaged in the textile, chemical fiber and chemical material industries, predicts a 200-250 percent year-on-year increase in first half 2011 preliminary net profit to 125.74-146.7 million yuan, reports Beijing Times, citing a company filing.

Huaxicun attributes the rise in net profit to the increase in gross margins resulting from the price hike of PET staple fiber.

The company posted gains of 30 million yuan during this period from its investment in PTA futures.