July 29 -- Anhui Taier Heavy Industry (002347) filed it will purchase a 19.75-percent stake in subsidiary Ruici (Maanshan) Transmission Machinery, reports yicai.com. As it bought a 79.34-percent stake in the subsidiary earlier in May for 78.34 million yuan, this purchase brings its holding in the company to 99.09 percent.

Taier also filed its revenue and net profit respectively grew 34.7 percent and 35.02 percent year-on-year to 175 million yuan and 33.17 million yuan in the first half. It also forecasts its net profit to will grow 30-50 percent year-on-year in the first three quarters.

Source:CapitalVue