Tiantong Corporation boosts investment in new soft magnetic materials, Zhonghong Medical net profit surges 2662%

Earnings
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Summary · why it matters

Tiantong Corporation plans to invest 434 million yuan through a wholly-owned subsidiary to build an intelligent manufacturing project with an annual output of 14,600 tonnes of high-end soft magnetic new materials, with a construction period of about 36 months. Zhonghong Medical's net profit attributable to the parent company in the first half of the year surged 2662.38% year-on-year to 159 million yuan. In addition, several companies released half-year reports, with Hangzhou Cable, Yahua Group, and Yongtai Technology all posting substantial net profit growth. Jingsheng Co.'s self-developed large-size CVD SiC chemical vapour deposition coating complete equipment has passed factory inspection and been delivered to customers. Sino Medical's H-share issuance is being filed with the China Securities Regulatory Commission and is expected to be completed in the first quarter of next year; its HT Supreme drug-eluting stent system has been approved in Paraguay. Institutional seats made net purchases of 656 million yuan in Hengtong Optic-Electric and 168 million yuan in Yangtze Optical Fibre and Cable. Wanxun Automation has made progress in its domestic and overseas semiconductor business layout, and Shandong Haode and Anhui Kaize, controlled by Intco Medical, delivered excellent second-quarter profits.

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Hangzhou Cable posted substantial net profit growth in half-year report

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