ANNEC GREEN REFRACTORIES CORPORATION, one of leading refractory enterprises in China, today announced financial results for the second quarter of 2011:

Second Quarter 2011 Highlights

*Revenue increased 53.2% to $24.3 million compared to $15.8 million for Q2 2010

*Gross profit increased 59.3% to $8.5 million versus $5.3 million for Q2 2010

*Net income for increased 19.3% to $1.39 million versus $1.16 million for Q2 2010

Mr. Fuchao Li, Chairman, commented, "We are very pleased to report a 53.2 percent increase in revenues and a 19.3 percent increase in net income for the second quarter of 2011 compared to the same period of 2010. Our strategy is to increase our presence in overseas markets while consolidating market share based on established distribution channels in China in 2011."

In the second quarter of 2011, one of the Company's R&D programs was awarded the first prize of Zhengzhou progress prize in scientific and collective technology, another R&D program was honored with a scientific achievement second prize by Henan industry and information technology.