Gushan Environmental Energy posts 400 mln yuan revenue in Q2

BEIJING, Aug 18, 2008 (Xinhua via COMTEX) -- GU | Quote | Chart | News | PowerRating -- China's top bio-diesel producer Gushan Environmental Energy Limited (GU.NYSE) reported 399.6 million yuan of revenue for the second quarter ended June 30, jumping 52.6 percent year on year.

Gushan Environmental Energy realized 165 million yuan of gross profit and 120.8 million yuan of net income in this period, growing 43.8 percent and 33.1 percent from 2007, respectively.

Meanwhile, sales volume of bio-diesel stood at 59,921 tons with year-on-year and month-on-month increase of 21.8 percent and 15.8 percent respectively.

Gushan Environmental Energy plans to crank up its annual production capacity to 400,000 tons by 2008-end and 600,000 tons by 2009-end.

The bio-diesel producer forecasted that the bio-diesel production volume in 2008 would be about 250,000 tons, compared with earlier prediction of 270,000 tons.

Currently, Gushan Environmental Energy operates five production facilities in Sichuan, Hebei, Fujian, Beijing and Shanghai with another two in Hunan and Chongqing to come on stream in the fourth quarter this year.

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