SANY 07 Return on Securities Investment Hit CNY376mn

SANY Heavy Industry Co. Ltd (600031.SH) reaped CNY 376.2 million returns on securities investment in the full 2007, buoyed by the bullish stock market.

Based in Changsha, the capital city of central China's Hunan Province, the Shanghai-listed company achieved up to CNY 2.08 billion profits in the 12 months last year, increasing 153.74% compared with 2006. Net profits and earnings per share meantime were up 171.31% and 166.13% year on year to respectively hit CNY 1.6 billion and CNY 1.65, showed the transportation equipment manufacturer's annual report released on April 25, 2008.

As of September 30, 2007, SANY Heavy Industry still held Yuan-denominated A-shares or Hong Kong dollar-denominated H-shares in 30 firms, but the figure decreased to 10 firms by the yearend of 2007.

It has decided to withdraw all stock investments before the end of this August, the company said in the financial report. (SinoCast)