Biz scene: MARKET

Profit to skyrocket

Domestic investment firm Shenzhen Huaqiang Industry Co Ltd predicted its 2006 net profit would skyrocket more than 200 percent from 2005.

The Shenzhen-listed company said yesterday in a report filed to the Shenzhen Stock Exchange that its net profit in the 2006 fiscal year would climb 200 to 250 percent higher than 25.14 million yuan in 2005.

The company saw its net profit drop in 2005, 40 percent lower than its 2004 figure of 41.94 million yuan.

VoIP tie up

Jinan Yinquan Technology Co Ltd, a subsidiary of China VoIP & Digital Telecom Inc, said yesterday it is working in conjunction with China Tietong to offer VoIP 400 call center service numbers to businesses located in China.

According to Li Kunwu, president and CEO of China VoIP & Digital Telecom, the VoIP 400 service is ideal for businesses that are interested in sharing the cost of inbound customer service calls. It offers a 50 percent saving over traditional 800 numbers for businesses that use the customer service numbers.

Business growth

CITIC Guoan Information Industry Co Ltd said yesterday that it expected a net profit growth of more than 50 percent for 2006.

According to its report filed to the Shenzhen Stock Exchange, the Beijing-based company will gain over 50 percent in its net profit from 224.61 million yuan in 2005.

The company attributed the net profit increase partly to the 294 million yuan gain from selling holding shares in Shanghai-listed CITIC Securities Co Ltd in the fourth quarter of 2006.

The company will disclose further information in its annual financial report.

(China Daily 01/10/2007 page15)