Shandong Gold Mining Co., China's second-largest listed gold miner, said first-quarter profit rose more than 300 percent because the company raised prices and increased production.

The company, based in the eastern Chinese city of Jinan, didn't give a profit figure in a statement to Shanghai's stock exchange today. Net income was 43.7 million yuan ($6.3 million) a year earlier, it said.

China's listed companies are required to make an announcement if they expect earnings to rise or fall more than 50 percent in a reporting period.