Tokyo's Nikkei rallied as much as 1.3%, moving past the psychological barrier of 30,000 for the first time since April, also helped by a reshuffle in the Nikkei
Shandong-based Hongqiao posted annual net income of 10.5 billion yuan ($1.62 billion) last year, according to a filing to the Hong Kong stock exchange on Friday.
Revenues were up only 2.3% year-on-year to 86.14 billion yuan, however, with Hongqiao also attributing its bumper earnings to lower production costs and lower impairment losses compared with a year earlier.