(NBD) Sept. 11 -- Zhongfu Straits (Pingtan) Development Company Limited made an announcement Saturday, saying that it will acquire some of the assets of China CNNR, which specializes in investment and capital operation in new energy and nuclear technology areas.

The Fujian-based company is seeking a new profit growth driver by making inroads into the new energy sector through the purchase, said analysts. With ample wind resources, the business will be able to establish offshore wind power development projects, which will accordinarly give a strong boost to the company's performance.

One analyst told National Business Daily that the diversification strategy of Zhongfu Straits (Pingtan) in recent two years has yet to make a profit, as its projects in tourism, healthcare, and other areas are still in their early stages. At the same time, its main business, forestry services, showed limited increase in profits due to China's logging restrictions.

According to the company's fiscal reports, operating revenue for the first half of 2017 came in at around 346.34 million yuan (53.29 million U.S. dollars), a drop of about 50.40 million yuan (7.75 million U.S. dollars) from a year ago. Net profits attributable to equity holders of the parent was about 3.33 million yuan (512,331.33 U.S. dollars) in the Jan.-June 2017 period, a year-on-year decline of 83.26 percent.

Email: lansuying@nbd.com.cn