Zhejiang China Commodities City Trading Co, China's biggest wholesale firm, on Thursday forecast its net profits in 2009 would increase 50 percent from the previous year.
The launch of a new wholesale center in Yiwu City, Zhejiang province in October 2008 contributed significantly to the profit growth last year, the company said in a statement to the Shanghai Stock Exchange Thursday before trading hours.
The company said it would reveal the specific figures in its annual business report soon. But it did not specify the date.
Share price of the company opened at 43.5 yuan ($6.37) per share on Thursday, up 0.37 percent from the previous closing.
