August 29 -- Guizhou Xinbang Pharmaceutical (002390) posted a 4.08-percent rise in net profit in the first half of 2011 to 23.19 million yuan, with earnings per share of 0.13 yuan, reports stcn.com, citing a company filing. Revenue grew 5.55 percent year-on-year to 167 million yuan during the reporting period.

The listed company predicts that its net profit will change by between negative 10 percent and 20 percent in the first three quarters.

Xinbang Pharmaceutical, which is based in Luodian county, announced on August 28 that it will invest 10 million yuan to set up a health product subsidiary called Guizhou Xinbang Health Product.

Xinbang Pharmaceutical also plans to invest 10 million yuan to buy the Xiaqi Jiuding medical equity fund, managed by Kunwu Jiuding Capital, with a fund investment period of five years