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Sieyuan Electric's Profit Rises 13% in H1; Shares Up 10%

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Sieyuan Electric's (SHE:002028) attributable profit rose 13% to 1.46 billion yuan in the first half from 1.29 billion yuan in the year-ago period, according to its final earnings report filed Saturday with the Shenzhen Stock Exchange.

Earnings per share at the power transmission and distribution equipment company increased to 1.85 yuan from 1.66 yuan in the prior-year period.

The final figures were lower than the company's early estimate of 1.49 billion yuan in attributable profit and 1.90 yuan in EPS.

Operating revenue grew 27% year over year to 10.8 billion yuan, in line with the company's early estimate issued in July.

Sieyuan's shares jumped 10% late Monday morning in Shenzhen.

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