CSIC's ships come in with 18.5% rise in profit
Source: Xinhua |
January 25, 2010, Monday
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Print Edition
Print Edition
CHINA Shipbuilding Industry Corp yesterday said its profit in 2009 jumped 18.5 percent to 7.39 billion yuan (US$1.1 billion).
Its operating income rose 17 percent in 2009 to 120.9 billion yuan from a year earlier. The Beijing-based conglomerate is one of China's two large state-owned shipbuilders, with nearly 50 industrial subsidiaries and about 30 R&D institutes in north China.
General Manager Li Changyin said CSIC had overcome the impact of the global financial crisis, which crippled sea-based trade and canceled ship orders.
Li said technological innovations had enabled CSIC to build 180,000-ton bulkers, 320,000-ton oil tankers, 13,000-TEU container carriers and new types of drilling platforms to be used in water up to 120 meters deep.
Li said the company's profit target for 2010 was 8 billion yuan, with operating income expected to exceed 140 billion yuan and output likely to break 10 million tons.
Its operating income rose 17 percent in 2009 to 120.9 billion yuan from a year earlier. The Beijing-based conglomerate is one of China's two large state-owned shipbuilders, with nearly 50 industrial subsidiaries and about 30 R&D institutes in north China.
General Manager Li Changyin said CSIC had overcome the impact of the global financial crisis, which crippled sea-based trade and canceled ship orders.
Li said technological innovations had enabled CSIC to build 180,000-ton bulkers, 320,000-ton oil tankers, 13,000-TEU container carriers and new types of drilling platforms to be used in water up to 120 meters deep.
Li said the company's profit target for 2010 was 8 billion yuan, with operating income expected to exceed 140 billion yuan and output likely to break 10 million tons.
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