CHINA - Xinyi Glass Holdings Reports Nearly 50% Net Profits For FY 2006

According to Forbes magazine, Shenzhen, China-based Xinyi Glass Holdings reported a net profit of $388,240,000 Hong Kong Dollars (49,663,263.15 USD) for the fiscal year 2006, representing an increase of 49.3 percent. The announcement of last year's earnings then led to a nearly 10% bump in Xinyi's stock on the Hong Kong Stock exchange as well.

Xinyi Glass Holdings is primarily a manufacturer of architectural and auto glass, with four manufacturing plants in China and Hong Kong.