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China CNR wins RMB 4.24-bln orders

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.

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