Tianjin Bohai Chemical Industry (Group) posted a 90.6 per cent rise in net profit to 27.14 million yuan (about HK$25.26 million) last year, which it said was due to cost-cutting efforts and an adjustment in its product mix. The company made a small loss in the second half, against a net profit of 27.67 million yuan in the first half. The H share said the cost-cutting and product measures saved it from reporting a 200 million yuan lower full-year profit, which was due to higher energy and raw materials costs, falling product prices and cancellation of tax exemptions. Last year, turnover fell 0.73 per cent to 2.79 billion yuan, but operating profit before an exceptional item surged 82.6 per cent to 33.13 million yuan. A final dividend of two fen was proposed, equal to its earnings per share last year.