July 19 -- Kingfa Science & Technology (600143) reported a 260.72 percent year-on-year increase in net profit to 699 million yuan in the first half of 2011, reports 163.com, citing a company filing. Sales revenue rose 25.7 percent to 5.89 billion yuan in the first six months, with earnings per share (EPS) of 0.5 yuan, up 257.14 percent year-on-year.

On March 21, Kingfa transferred a 75-percent stake in Changsha Gaoxin Real Estate Development to Guangzhou Chengxin Investment Management for 554.04 million yuan, generating investment income of 215.31 million yuan.

Kingfa works with the plastics industry, developing flame-retardant resins, plastic alloys, and toughened resins.

Source:CapitalVue