Changzheng Electric Co Q1 profit likely to sextuple

Guizhou Changzheng Electric Co Ltd<600112> on Wednesday said its first-quarter profit may more than sextuple from a year earlier thanks to efficient cost control and sales growth in part of its new products.

Sales and profits both experienced a robust growth, the company said in a statement. Net profit for the first quarter of this year will be six times more likely than that of the same period last year when it reaped RMB 4.16 million in profit, or RMB 0.0209 per share.

Its first-quarter earnings result is scheduled to be published on Apr. 15.

Last year, the company saw its net profit jumped 325.39% to RMB 32.9 million.

Major activities of the Shanghai-listed company include electric components production, R&D and manufacture of wind power equipment, precision mold, etc.