Midas Holdings Limited announced earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of RMB 398.4 million against RMB 303.5 million a year ago. The increase was mainly due to the inclusion of revenue of RMB 76.6 million from the Group's new Aluminium Alloy Stretched Plates Division acquired on July 27, 2016. Profit before tax was RMB 33.2 million against RMB 14.3 million a year ago. Profit for the period was RMB 28.7 million against RMB 10.0 million a year ago. This was mainly due to higher revenue, higher other income due to unrealised foreign exchange gain and higher share of profits from its associated company, CRRC Nanjing Puzhen Rail Transport Co. Ltd.