Jan. 10, 2012 (China Knowledge) - China
South Industries Group Corp (CSGC), a manufacturer of automobiles, motorcycles, vehicle components, optical-electronic products and other special products, saw its profit increase 9.56% year on year to RMB 8.18 billion last year, sources reported.
The group's business revenue rose 8.81% year on year to RMB 279.86 billion in 2011, said Gong Yande, Deputy General Manager of the group, on Monday.
The auto division generated profit of RMB 5.51 billion and business revenue of RMB 126.10 billion last year, according to Gong.
The group saw its sales of independently developed passenger vehicles increase 13.4% year on year to 1.37 million units last year and sales of motorcycles rise 12.5% to 4.73 million units.
Gong added that CSGC aims to realize profit of more than RMB 10 billion this year.
CSGC is parent company of China
Changan Automobile Group, one of the top four auto makers in China