China CNR Corp. reports 45% rise in 2010 profits

13:49, April 08, 2011      

Email | Print | Subscribe | Comments | Forum 

China CNR Corp., the nation's second largest train maker, reported Friday that its net profits surged 45.12 percent year on year to 1.91 billion yuan (291 million U.S. dollars) in 2010.

Revenue hit 62.18 billion yuan, an increase of 53.48 percent year on year. The company's total value of assets increased 21.82 percent to 77.16 billion yuan by the end of December, according a statement filed with the Shanghai Stock Exchange.

The train maker attributed its profit growth to huge government investment in rail transportation facilities last year, especially the building of high-speed railways.

The company also tapped new revenue streams last year by exploring new businesses and opening up overseas markets, the statement noted.

The company said its earnings are likely to continue to grow over the next five years, as the government is expected to continue to expand the country's high-speed rail network, spurring demand for locomotives, rail cars and bullet trains.

Source: Xinhua
 
 
     
 
 
 
     
 
 
 
  Weekly review  
 
 
 
     
 
 






(Editor:张茜)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Survey for 2011 NPC and CPPCC Sessions
  • Focus On China
Major headlines
Editor's Pick
  • Protesters shout slogans against Gaddafi outside Libyan Embassy in Cairo
  • Exhibition highlights achievements in 11th Five-Year Plan period
  • Green revolution on wheels staged in Seoul Motor Show 2011
  • Chinese military officials meet with Cameroonian guest
  • 'Burn Deeply' staged in Capital Theatre in Beijing
  • Dinamo Kiev draws with Braga at Europa League
Hot Forum Dicussion