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China CNR inks RMB 3.49 bln contracts

Jul. 19, 2012 (China Knowledge) - China CNR Corp<601299>, one of China’s two leading train manufacturers, announced that it recently inked several major contracts with total value of RMB 3.49 billion, accounted for 3.94% of its 2011's operating revenue.

Tangshan Railway Vehicle Co Ltd, a wholly-owned subsidiary of China CNR Corp, inked RMB 2.54 billion worth of contracts with railway bureaus to manufacture passenger trains.

Meanwhile, another subsidiary of China CNR, Shenyang Locomotive and Rolling Stock Co Ltd, inked RMB 270 million worth of contracts with China Railway Investment Corp to provide train repair services.

In the first half of this year, China CNR realized RMB 18.4 billion in operating revenue, down 5.54% YoY, while its net profit grew 8.22% from a year earlier to RMB 664 million, source reported.

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