Hualan Biological net profit jumps 501 pct in Q1 2010
Shanghai. April 21. INTERFAX-CHINA - Hualan Biological Engineering Inc. recorded a year-on-year net profit jump of 501 percent in the first quarter of this year, it announced on April 21.
According to the announcement, Hualan Biological's net profit grew from RMB 34.5 million ($5.07 million) to RMB 207 million ($30.31 million) during the period.
Hualan Biological attributed the surge to growing profit margins for its blood products and vaccines. Notably, blood products generated RMB 95.61 million ($14.00 million) in net profit in the first three months this year, up 132 percent against the previous year.
The company's total revenue rose 253 percent year-on-year to hit RMB 368 million ($53.88 million) in the first quarter of 2010.
During the period, revenue from blood product sales grew 79.53 percent to reach RMB 169 million ($24.74 million) while the influenza A (H1N1) vaccine, which is a new product this year, contributed revenue of RMB 187 million ($27.38 million).
Henan-based Hualan Biological is one of China's leading blood products companies and mainly produces blood products, vaccines and proteins.