Jilin Qifeng Chemical Fiber (HKG:0549) says that it expects a substantial increase in net profit for the year ended 31 December 2011 as compared with the net profit for the year ended 31 December 2010.

The expected increase is primarily due to (i) improvement of supply and demand balance of acrylic fibre products as a result of consolidation in the industry during recent years; (ii) expected increase in sales volume of the group's acrylic fibre products; and (iii) expected substantial increase in the group's share of the net profit generated by Jilin Jimont Acrylic Fiber Co., Ltd., an entity jointly controlled by the group.