Chinese Donkey-Hide Gelatin Maker's First-Half Profit Rises 7.4%; Shareholders Up Stakes
Yicai Global
/SOURCE : Yicai
Chinese Donkey-Hide Gelatin Maker's First-Half Profit Rises 7.4%; Shareholders Up Stakes

(Yicai Global) Aug. 15 -- Dong-E-E-Jiao Co. [SHE:000423] made a net profit of CNY829 million (USD124.63 million) in the first half, a year-on-year increase of 7.4 percent, prompting many shareholders to increase their stock holdings.

DEEJ is China's largest manufacturer of donkey-hide gelatin, also known as 'e jiao,' an important ingredient in traditional Chinese medicine. As demand for donkey-hide gelatin continues to grow, DEEJ has plenty of space to increase product prices and its future prospects are good, according to a research report by Southwest Securities.

China Resources Pharmaceutical Group Ltd., China's second-largest pharmaceutical group, increased its stake in DEEJ to 4.66 percent between April 20 to May 5, to become the company's second largest shareholder.

The stake held by investment funds managed by Foresea Life Insurance Co. rose to 4.17 percent from 2.44 percent at the end of the first quarter, making Foresea Life Insurance the third-largest shareholder.

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