SHANGHAI Dazhong Taxi has posted first-half profit of 27.24 million yuan (about HK$36.75 million at the official rate). It is the first Shanghai B-share firm to announce interim results this year. The unaudited figures are prepared according to domestic Chinese accounting principles and in theory are meant for A shareholders only. However, an official at the Shanghai exchange's international business department said Shanghai B-share firms were not required to produce audited interim results to international accounting standards (IAS). The yearly result must be audited by an international accountancy firm to IAS requirements. Using IAS allows investors from overseas to better evaluate performances. In a statement released by the exchange, Shanghai Dazhong said its core business accounted for 19.6 million yuan or 72 per cent of the interim profit. It said 200 taxis were added to the fleet in the first six months, to be followed by 300 more in the second half, taking the total to 1,400. A profit of 5.6 million yuan was made from investments such as property development, tourism, advertising, trade and commerce, it said. Dazhong said it anticipated an after-tax profit of 22.76 million yuan for the second half, and if a planned extra profit of 6.76 million could be realised, the total net profit for the second half could reach 29.5 million yuan. Last year, the second-largest taxi operator in Shanghai reported a net profit of 33.5 million yuan, audited to international standards.