Gold producer Neimenggu Hongfeng Co has announced net profits of 18.4 million yuan (about HK$16.92 million) for last year, up 23.6 per cent from 1996, due to a sharp rise in gold output. The company lists domestic-currency A shares on the Shenzhen stock exchange. Gold production reached 1.45 tonnes last year, an increase of 93.3 per cent compared with 1996, the company said. Turnover hit 109.73 million yuan last year, up 36.7 per cent from 80.27 million yuan in 1996, the report said. Net earnings per share were 0.20 yuan last year, compared with 0.158 yuan in 1996, it said.