China's Huifeng Bio-Pharmaceutical Technology, specializing in developing and producing botanical extracts for pharmaceuticals, announced its revenue for Q2 2010 has increased 116.7 percent to $6.7 million.

"We are pleased to report record revenue and operating income in the quarter," Mr Jing'an Wang, the company's CEO, commented. "The large increase in profitability and top line growth can be attributed to the increase in our sales of pharmaceutical raw-material and pharmaceutical intermediates. We have seen increased orders of both Rutin series products and Diosmin. We plan on focusing to fulfill the entire demand in the coming year."

The company's gross profit for the six months ended June 30, 2010 was $4 million an increase of $2.6 million or 181 percent from $1.4 million for the six months period ended June 30, 2009.

According to the company, gross margin as a percentage of revenues for the six months ended June 30, 2010 was slightly increased from 32.9 percent to 37.7 percent, compared to the same period in 2009. The increase in gross margin was mainly due to the increase of the selling price of raw-materials.

Huifeng's net income for the first half of fiscal year 2010 was $2.3 million compared to $410,557 in the prior year's corresponding period, a 483.6 percent increase year over year, and earning per diluted shares were $0.10 based on 25.1 million shares.