GUANGZHOU, May 02, 2008 (SinoCast via COMTEX) -- Chinese chemical pharmaceuticals producer Guangzhou Pharmaceutical Co., Ltd. today releases its financial results for the first quarter of 2008, announcing net profits of CNY 114 million, leaping 45.96% year on year.

Earnings per share jumped 45.96% to CNY 0.14, and the company achieved fully diluted return on equity of 3.60%, with a 1.06 percentage points increase from a year ago, according to the Chinese accounting standards.

As of March 31, 2008, the chemical pharmaceuticals producer had made total assets of nearly CNY 5.327 billion, compared with CNY 6.207 billion at last yearend. Meanwhile, its net assets per share had inched up 3.4% to CNY 3.90.

Guangzhou Pharmaceutical, consolidated from three pharmaceutical trade companies and eight Chinese traditional patent medicine producers of Guangzhou Pharmaceutical Holding Ltd., was established in Guangzhou, Southern China, on September 1, 1997, and one month later, it got listed on the Stock Exchange of Hong Kong. In February 2001, the company started floating shares on the Shanghai bourse.