Bailu Chemical Fiber to Increase Domestic Shares     

The Board of Directors of Xinxiang Bailu Chemical Fiber Co., Ltd. (Bailu Chemical Fiber, SZ: 000949) has agreed to make a public offering of up to 120 million domestic shares in 2008. Funds to be raised will be used in the 40 000 t/a high-quality differential viscose staple fiber project and the 12 000 t/a continuous polymerization differential spandex project.
   The operating revenue of the company was RMB2 629.68 million in 2007, an increase of 24.02% over the previous year. The net profit was RMB260.58 million, an increase of 258.29%.