China’s Tongwei sees 77 percent profit growth first half 2012

Feed brings in 91 percent of income

China’s Tongwei group saw a net profit of RMB 21.9082 million in the first half of 2012, a 77.73 percent increase over 2011’s number, according to the company’s latest semiannual report.

During the term of the report, the company’s income amounted to RMB 5.48 billion, a 31.07 percent increase over 2011 numbers. Feed brought in RMB 5.01 billion, making up 91.35 percent of the total income, according to the company. The amount that was kept by the company was RMB 21.91 million, a 77.73 percent increase. The amount that went to the on-market stocks deduction for non-business activities increased over 2011’s number by 327.57 percent.