May. 4, 2012 (China Knowledge) - China CNR Corp<601299
>, one of China’s two leading train manufacturers, announced yesterday that it recently signed RMB 4.23 billion of wagon contracts.
The company said in a statement filed with the Shanghai Stock Exchange
that the contract value was equivalent to 4.75% of its operating revenue in 2011.
The company, together with six fully-owned subsidiaries, will supply RMB 4.17 billion of wagons to China Railway Investment Corp within this year.
CNR earlier 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% year on year, according to an earlier report from China Knowledge.