Chengxing Makes Investment in Two Projects     

Jiangsu Chengxing Phosph-Chemical Co., Ltd. (Chengxing, SH: 600078) announced on August 25th that it has decided to invest up to RMB240 million for a 120 000 t/a specialty phosphoric acid project and a 20 000 t/a specialty calcium hydrophosphate project.
   To implement the strategy of developing fine phosphorus chemicals and extending fine phosphates portfolio, the company will build the two facilities.
   The company intends to purchase the land usage right from its controlling shareholder Jiangyin Chengxing Industrial Group Co., Ltd, which is located in Xiejing, Chengjiang town, Jiangyin, Jiangsu province.
   Chengxing achieved a net profit of RMB167 million in the first half of 2008, an increase of 296.20% over the same period of 2007. EPS was RMB0.259. The company expects the performance growth to be 350% in the first three quarters of 2008.