Xiamen Tungsten Co, Ltd, China's largest producer and exporter of tungsten and molybdenum products, said on Wednesday that net profits increased 40.49 percent to 467 million yuan ($68 million) last year.
In unaudited financial statements filed with the Shanghai Stock Exchange, the company said that it expects the earnings-per-share to be 0.31 yuan, up 7.43 percent year on year.
The company attributed the profit to increased revenues made at its property subsidiary.
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