Tingyi Reports 35% Drop In Q3 Net Profit

Tingyi (Cayman Islands) Holding Corp TCYMY reported a 35% decline in its third-quarter net profit. Tingyi's quarterly net profit dropped to US$130.6 million, from US$200.5 million. Excluding a one-time gain in 2010, Tingyi's net profit dropped 1%. Its revenue climbed 6.7% to US$2.20 billion from US$2.07 billion. Tingyi shares clsoed at $54.55 on Friday.