2010-08-19 17:02

Chen Shijie, vice head of the Nanjing Fiberglass R&D Institute, speaks to reporters in the institute's showroom on Aug 16, 2010, in East China's Jiangsu province's capital Nanjing city. [Photo / chinadaily.com.cn]

China National Materials Group Corp Ltd (Sinoma Group) is constructing a production base in Northeast China's Jilin province, set to start production this year, said an official at the group's research institute Monday.

"The fiberglass sector is becoming cleaner and more environment-friendly," said Chen Shijie, vice head of the Nanjing Fiberglass R&D Institute.

Nanjing Fiberglass R&D Institute, based in East China's Jiangsu province, is a sister organization of the Shenzhen-listed Sinoma Science and Technology Co Ltd (Sinoma-tech), Sinoma Group's business managerial entity based in Beijing.

"Sinoma-tech is focusing on business development for the institute's fiberglass products. Wind turbine sales surged in the first half of this year, and drove the revenue growth of the listed company," Zhang Wenjin, director of the general office at the institute, told chinadaily.com.cn.

Sinoma-tech's sales revenue jumped 81.18 percent in the first half of this year to 1.04 billion yuan, and realized 154 million yuan in net profits, the company stated in the interim report filed to Shenzhen Stock Exchange. Its earnings per share surged 243.75 percent to 0.55 yuan.

The institute's major product is high-performance fiberglass, and its special fiberglass products for aerospace are used in China's Shenzhou spacecraft series. The institute also offers industrial services including fiberglass engineering, designing, and related consulting services.