China's Naura Technology net profits rocket in Q1

BEIJING - Naura Technology Group Co, an integrated circuit (IC) producer of China, said Saturday that its net profits were well up in the first quarter.

The company's net profits expanded 857.6 percent from one year earlier to 15.4 million yuan ($2.4 million) in Q1, according to its report to the Shenzhen Stock Exchange.

Business revenue rose 30.9 percent to 542 million yuan for the January-March period.

Earnings per share rose to 0.03 yuan.

Naura Technology's products include semiconductors, vacuum equipment and lithium batteries. It completed the acquisition of Akrion Systems LLC, a US supplier of wet cleaning systems for the semiconductor industry, in January.

Boosted by strong sales, Naura Technology expect its first-half net profits to more than double from a year before to reach between 105.6 million yuan and 132 million yuan.