August 16 -- Hualan Biological Engineering (002007) reported its net profit fell 28.67 percent year-on-year to 218 million yuan in the first half of 2011, reports yicai.com, citing a company filing.

Hualan Bio reported its revenue from H1N1 vaccines was 11.72 million yuan during the reporting period. It earned 240 million yuan from the same period last year.

The Henan-based company predicts its net profit will fall 30-50 percent year-on-year to 240-330 million yuan in the first three quarters this year. Revenue from H1N1 vaccine is expected to tumble 95.16 percent year-on-year in the same period.

Revenue from blood products increased 20 percent year-on-year to 417 million yuan in the first half of 2011. However, the closure of Hualan Bio’s five blood plasma stations in Guizhou province at the beginning of this month may influence the company’s blood product business.

Hualan Bio says it still has six blood plasma stations in Hunan province and six blood plasma stations in Chongqing. The firm added that it will accelerate the construction of blood plasma stations in Shizhu district, Chongqing. 
 

Source:capitalvue.com