China Yunnan Baiyao Group Co Ltd<000538>, a leading traditional Chinese medicine manufacturer in China, announced over the weekend that its net profit surged 40% year on year to RMB 464 million in 2008, with earnings per share reaching RMB 0.96.

Operating revenue from its core business amounted to RMB 5.7 billion, representing a year-on-year increase of 33%. Earnings per share were RMB 0.96, according to the company's annual report released on Friday.

The company declares a dividend of about RMB 3.00 for every 10 shares (including tax).

The company attributed the net profit increase to its traditional Chinese medicine business and the growing band-aid and toothpaste businesses.

At the end of 2008, the company completed the placement of 50 million shares to Ping An Insurance (Group) Co<601318><2318>, which raised about RMB 1.39 billion in funds and early doubled the company's net assets with a 10% expansion in its total capital.