July 20 -- Beijing Xidan Market (600723) forecasts a 700 percent year-on-year increase in first half 2011 net profit to 189.03 million yuan, with earnings per share of 0.287 yuan, reports 21cbh.com, citing a company filing.

The company attributed the higher earnings in the first half to the recognition of revenue from its newly-acquired company, Beijing New Yansha Holding(Group).

Beijing Xidan Market, founded in 1993, operates 15 stores and is also engaged in the food processing and property leasing businesses.