Reflecting on our strong second quarter performance and continued demand for all of our product lines, both domestically and internationally, we are increasing our revenue and net income guidance for full year 2011.
The Company anticipates revenue for full year 2011 will increase to the range of RMB303 million to RMB313 million, which represents year-over-year growth of 25% to 29%. This compares to the Company's previous 2011 revenue guidance of RMB292 million to RMB303 million. The Company estimates non-GAAP net income for full year 2011 will increase to the range of RMB122 million to RMB127 million, compared to its previous estimate of RMB121 million to RMB126 million.
The Company expects year-over-year revenue growth of 20% to 25% in 2011, bringing revenue for the full year 2011 in the range of RMB292 million to RMB303 million. The Company also expects its full year 2011 non-GAAP net income, without taking into account relevant operating expenses in connection with the exclusive partnership with Consensus Orthopedic and the acquisition of the majority stake in Wei Rui Li, to be in the range of RMB128 million to RMB133 million. The impact of the exclusive partnership with Consensus Orthopedic and the acquisition of the majority stake in Wei Rui Li on the Company's operating expenses is expected to be approximately RMB7 million. After taking into account the operating expenses relating to these transactions, the Company believes that non-GAAP net income for the full year 2011 will be between RMB121 million and RMB126 million.
China Kanghui Holdings today announced that it has acquired a majority stake in Beijing Wei Rui Li Medical Device Co., a provider of approved hip and knee systems in China. The Company expects to acquire 60% of Wei Rui Li. Pursuant to the share purchase agreement, the Company has the option to acquire additional equity interest in Wei Rui Li at a pre-determined price subject to the achievement of certain milestones. The transaction is expected to close by March 31, 2011, subject to all conditions set out in the share purchase agreement being satisfied.