Apr 13 - China CNR: Net Profit Grows 55.16% in 2011

Source: Shanghai Stock Exchange, ChinaScope Financial (Data)

+       According to the annual report released by China CNR Corporation Limited on April 11, the company made CNY 89.35 billion in revenue in 2011, up 38.91% year-on-year. Profit was CNY 3.18 billion, up 60.75% year-on-year.

+       The adjustments made to the high-speed railway construction plan last year have had little impact on the annual performance of China CNR, which met its planned sales target with CNY 23.94 billion sales revenue from coaches sold.

The 55.16% growth in net profit attributed to equity holders is due to high revenues and improved margins. The company’s revenue still largely depends on purchases made by the Ministry of Railways.

High-speed trains and locomotives are the largest revenue generator of China CNR Co., Ltd. The decreasing investment into the Chinese railway sector is indicating a gloomy 2012 outlook.

If you'd like to receive a daily e-mail update of ChinaScope Daily Dim Sum Newsletter, please contact us:newsletter@chinascopefinancial.com. If you'd like to try out ChinaScope Database, apply for a trial here