Saturday, 9 Jul 2011

JIANGSU HUACHANG CHEMICAL CO., LTD announced that it expects its net profit for the first half of fiscal year (FY) 2011 to be approximately RMB 25 million to RMB 30 million, compared to that of the same period in FY 2010 (RMB -36,145,400). The Company previously announced that it expected the profit to be RMB 13 million to RMB 23 million. The Company cited the increased sale price of its product, decreased production and increased price of raw materials as the main reasons for the revision.