Profits of Chinese train maker CRRC up 4.76% in 2018

BEIJING - Net profit of Chinese train maker CRRC Corporation Ltd rose 4.76 percent in 2018 to 11.3 billion yuan ($1.7 billion), the company said Thursday.

The world's largest supplier of rail transit equipment said its business revenue increased 3.82 percent to reach 219 billion yuan last year, mainly thanks to growing sales for railway equipment and urban rail transit products.

The company's revenue from orders on the Chinese mainland went up 4.13 percent year-on-year, while that from overseas orders edged up 0.76 percent.

CRRC was formed in June 2015 through the merger of China's top two train makers -- China North Railway and China South Railway.