Guizhou Changzheng Electric Co Ltd<600112> said on Tuesday that net profit for the first quarter rose more than 661% over the corresponding period of the previous year as it dedicated to develop high value-added products.

First-quarter net income amounted to RMB 33.4 million or RMB 0.103 per share. Revenue from core business reached RMB 142 million, up 69.18% from a year earlier. Strong sales growth in its middle- and high-pressure products also acted as major booster for the pleasing profit, the company said in its earnings statement.

Meanwhile, it predicted a 300% rise in net profit in the first half of 2008 from RMB 13.5 million in the same period last year.