It is reported that Shengda Mining predicts a 9,490-11,346%YoY increase in 2011 preliminary net profit to between CNY 310 million and CNY 370 million.

The company said the huge increase in earnings was due to a large-scale asset restructuring, as its main business was switched from the production of medical equipment, to the exploration of non-ferrous metals.

According to Shengda Mining, it possesses competitive advantages in its main products including silver, lead and zinc, and the profitability of these products is high.

(Sourced from Oriental Morning Post)