August 12 -- Guodian Nanjing Automation (600268)posted a 343.9 percent year-on-year increase in net profit to 86.45 million yuan in the first half of 2011, reports yicai.com, citing a company filing.

Despite the higher net profit, the company posted a 547.73 percent year-on-year decrease in operating profit.

Guodian Nanjing Automation attributed the decrease in operating profit to the higher expenses resulting from the drastic market competition.

However, the company recorded non-business revenue of 107 million yuan from the government subsidies and land selling revenue.

Source:capitalvue