CapitalVue reported that Zhengzhou Coal Mining Machinery Group a maker of hydraulic equipment for the coal mining sector recorded 35.89% YoY increase in 2011 net profit to CNY 1.21 billion with earnings per share of CNY 1.71 up 19.58%.

Based on total equity of 700 million shares as of end 2011, the company plans to distribute cash dividends of CNY 1.2 and convert 10 shares for every 10 shares held. The total amount of dividends to be paid out is expected to hit CNY 84 million. Revenue rose 19.37% from 2010 to CNY 8.06 billion.

Zhengzhou Coal Machinery attributed the improved performance to its management methods, the putting into operations of new projects and market expansion following its initial public offering in Hong Kong. It set 2012 sales revenue of CNY 10 billion and net profit of CNY 1.49 billion.

(Sourced from CapitalVue)