August 8 -- Zhejiang Huahai Pharmaceutical (600521) posted a 121.77 percent year-on-year increase in first half 2011 net profit to 132 million yuan, with earnings per share of 0.24 yuan, reports p5w.net, citing a company filing.

Revenue rose 108.97 percent year-on-year to 920 million yuan.

Zhejiang Huahai Pharmaceutical attributed the rise in net profit to the increase in the sales revenue of its Active Pharmaceutical Ingredients (API) business during the reporting period.

The listed company recognized revenue of 229 million yuan from its real estate subsidiary, Zhejiang Huahai Yintong Real Estate Development.

Source:CapitalVue