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China CNR's net profit surge 55.16% in 2011

Apr. 12, 2012 (China Knowledge) – China CNR Corp<601299>, one of China’s two leading train manufacturers, yesterday reported a net profit of RMB 2.99 billion for last year, reflecting a year-on-year increase of 55.16%, boosted by higher increase in revenues from China Railway High-Speed or CRH.

In 2011, the train manufacturer's sales revenue reached RMB 89.35 billion, up 38.91% than a year earlier.

Basic earnings per share for last year were RMB 0.36, and a final dividend of RMB 0.05 per share or RMB 516 million in total was declared.

Last year, the company saw its sales revenue from CRH jumped 105.1% year on year to RMB 23.95 billion, and sales revenue from locomotive and freight train reached RMB 18.47 billion and RMB 12.58 billion, increased 23.78% and 33.06% year on year, respectively.

Sales revenue from domestic market grow 38.84% year on year to RMB 83.08 billion, while in overseas market the company realized RMB 6.28 billion in sales revenue last year, up 39.93% year on year.

In February 2012, China CNR announced to raise RMB 7.1 billion via a rights issue, China Knowledge reported earlier.

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