IN BRIEF (Page 15)

China CNR seals wind-power deal

China CNR Corporation Limited has agreed to its biggest wind power generator contract so far, worth 2.7 billion yuan.

Yongji Xinshisu Electric Equipment Co Ltd, a subsidiary of China CNR Corporation Limited, signed the supply contract at the 14th Investment and Trade Forum for Cooperation between East and West China in Xi'an on April 7.

China CNR Corp and its subsidiary Yongji Xinshisu Electric have recently increased investment in technology to improve the quality of its products, and to be a leader in the sector in terms of wind-power.

Through development and trials of advanced technology the enterprise has improved its advantage in core wind power technologies.

At present, Yongji Xinshisu Electric has mastered the manufacturing technology of certain accessory products, which could be used in three main types of wind turbine generators: supporting cage, double-fed and permanent magnet.

Baotou Steel 2009 profit declines

Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Corp said last Friday its 2009 net profit declined 66.6 percent from a year earlier.

Net profit hit 55.8 million yuan last year on revenue of 2.6 billion yuan, which was down 19.6 percent from 2008, according to its annual report.

Earnings per share fell 66.6 percent to 0.069 yuan in 2009.

The company attributed the declining revenue and profit to falling prices of rare earth-related products and shrinking demand amid the financial crisis.

Profit rise for aluminum firm

Shandong Nanshan Aluminum Co, China's major aluminum producer, achieved profit growth in 2009, even as others in the industry posted losses amid the global economic downturn.

Net profit rose 14 percent year-on-year to 715 million yuan on revenue of 7.2 billion yuan.

Earnings per share increased 4.2 percent to 0.5 yuan in 2009.

Nanshan attributed its profit rise to production cost controls and further exploration in the high-end market.

XCMG earnings set to leap in Q1

The Xugong Construction Machinery Co Ltd (XCMG), China's largest construction machinery maker, has forecast a surge in first quarter net profit of 77 percent.

The Jiangsu-based company said in a statement that its net profit hit 500 million yuan in the first three months.

Earnings per share stood at 0.58 yuan, up 77 percent from a year earlier. XCMG attributed the profit jump to its production expansion and sales driven by strong market demand. The profit rise came despite the global economic downturn that prompted a fall in aluminum product prices.

China Daily-Agencies

(China Daily 04/20/2010 page15)