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CSR inks RMB 7.23 bln contracts

Dec. 14, 2012 (China Knowledge) - China South Locomotive & Rolling Stock Co Ltd<601766><1766>, or CSR, the country's largest manufacturer of rail carriage, has announced that it recently signed 10 contracts with a total value of RMB 7.23 billion, accounting for 9% of its operating revenue in 2011.

In a statement filed with Shanghai Stock Exchange, the company said its subsidiary, CSR Sifang Co Ltd, inked RMB 1.75 billion worth of contract with several Railway Bureaus to overhaul CRH.

Meanwhile, CSR Zhuzhou Electric Locomotive Co Ltd, another subsidiary of CSR, inked RMB 750 million worth of sales contract with Malaysia's Syarikat Prasarana Negara Berhad.

In the first nine months of this year, China South Locomotive & Rolling Stock saw its operation revenue increase 8% YoY to RMB 63.52 billion, while its net profit for the period were RMB 2.85 billion, up 1% from a year earlier.

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