Qingmei Group Holdings, the original design manufacturer (ODM) of mid-end and high-end sports shoe soles in China, says net profit jumped 37.0% to RMB250.0 million ($50 million), while revenue surged 41.6% to hit RMB1.2 billion for the full year ended June 30, 2010 (FY2010).

Qingmei says group revenue increase in FY2010 was due mainly to strong sales volume growth as well as stable average selling price of its shoe sole products.

The group also saw a shift in product mix from MD I shoe soles to higher-margin MD II shoe soles for the year under review. As a result, revenue for the group’s MD II shoe soles jumped 63.2% to RMB679.4 million, accounting for 57.5% of total revenue compared to 49.9% in FY2009. Revenue for MD I shoe soles grew 14.8% to RMB443.5 million, contributing 37.6% of total revenue versus 46.3% in FY2009.

The remaining 4.9% of the group’s revenue in FY2010 was attributed to RB shoe soles, which saw an 85.5% increase in sales.

For FY2010, the group has declared a final dividend of RMB0.1172 per ordinary share. This works out to a dividend payout of 30.0% of the group’s net profit.