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China CNR inks RMB 7.24 bln contracts

Nov. 5, 2012 (China Knowledge) - China CNR Corp<601299>, one of China’s two leading train manufacturers, has announced that it recently inks several major contracts with total value of RMB 7.24 billion, accounted for 8.1% of its 2011's operating revenue.

CNR Changchun Railway Vehicles Co Ltd, a wholly-owned subsidiary of China CNR Corp, inked RMB 380.88 million worth of contracts with railway bureaus to sales and repair CRH accessories.

Meanwhile, another subsidiary of China CNR, Qiqihar Railway Rolling Stock Co Ltd, inked RMB 316 million worth of contracts with Australia Hamersley Iron Pty Ltd to provide ore car.

In the first nine months of this year, China CNR realized RMB 61.71 billion in operating revenue, down 0.34% YoY, while its net profit for the period grew 7.06% YoY to RMB 2.35 billion, China Knowledge reported earlier.

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