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Article: HIGH PRICE BOLSTERS H1 PERFORMANCE OF CHINA'S PETROCHEMICAL COS.
- Article from:
- AsiaPulse News
- Article date:
- July 11, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, July 11 Asia Pulse - More than 50 per cent of Chinese A-share listed petrochemicals have reported profit growth in the first half of this year thanks to price rises, according to Wind Statistics. Of 88 listed petrochemical companies on A-share market, 31 have released 100-percent growth in business prediction. Sichuan Chemical Company Limited (000155.SSE) and Hubei Xingfa Chemical Group (600141.SSX) expected their net profit up 1,127 per cent and 550-750 per cent on year, respectively.
According to Zhong Jingteng, a researcher with Guohai Securities, the list of the better-than-expected companies includes Hubei Biocause Pharmaceutical Co., Ltd ...