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CNGC prime operating revenue reaches 145b yuan

By Yu Hongyan (chinadaily.com.cn)
Updated: 2009-01-06 15:40

China North Industries Group Corporation (CNGC), China's largest military equipment producer, saw its prime operating revenue amount to 145 billion yuan ($21.21 billion) in 2008, up 10 percent year-on-year, with its profits rising 15.4 percent to 4.5 billion yuan.

Based on its military technology, CNGC also develops hi-tech machinery for civilian-use, chemicals and other products. Sales revenue of civil-use products grew 19.7 percent year-on-year, despite the sluggish market.

More than 25,000 units of the group's Beiben Heavy-duty truck were sold and the year-on-year growth rate was the highest in the industry. Revenue from urea products, polyolefin products and railway vehicles topped 2 billion yuan.