In a public announcement recently released on late April 7th 2011 by Xinxing Ductile Iron Pipes Co Limited, the company actualized net profit of CNY 392 million in the first quarter, up by 23.18% YoY.

The profit of each share earned CNY 0.2. The company said the remarkable performance of the company growth is mainly due to the return on equity from the successful acquisition of Xinxing Ductile Iron Pipes (Xinjiang) Resources Development Co Limited and the rising gross profit of its main products.

(Sourced from www.mysteel.net)
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