August 11 – Anhui Huamao Textile (000850) plans to issue a trust product worth 390 million yuan and form a mining investment firm for 450 million yuan, reports 21 Century, citing a company filing.

The firm posted a 469 percent year-on-year increase in net profits for first half o 2011 to 360 million yuan with earnings per share of 0.379 yuan. Operating profits hit 455 million yuan, up 715 percent from same period last year.

The Anqing-based firm has worked to diversify its business, the report added. 

Source:CapitalVue