On July 17, Shanghai Huayi Group released its first half-year performance report.
The company predicted that net profit belong to shareholders increased 670 million yuan - 770 million yuan in the first half year of 2018, showing 208% to 240% growth compared to the same period of 2018.
Deducting extraordinary item, the company's net profit still grew 197% to 231%, about 590 million yuan to 690 million yuan of increase compared to the same period of 2017.
The company said thanks to rising production price and decreasing production cost, the company realized net profit growth.
Huayi Group covered five core business including energy chemical, tire manufacture, hi-tech materials, refined chemical and chemical service.
