December 15 -- Pharmaceutical company Hainan Haiyao (000566.SZ) predicts a 416-485 percent year-on-year surge in 2011 net profit to between 173 million yuan and 196 million yuan, reports Oriental Morning Post.

Basic earnings per share is forecast to rise 386-499 percent year-on-year to between 0.77 yuan and 0.87 yuan.

The drugmaker earned net profit of 33.52 million yuan in 2010.

Hainan Haiyao recorded investment returns of 73 million yuan from the disposal of Hainan Haiyao Real Estate Development.

In addition, the company benefited from a huge increase in fourth quarter net profit due to higher sales.

Hainan Haiyao recorded a new source of earnings due to its investment in a Shanghai–based pharmaceutical company that recently started sales of artificial cochlea.