China Southern Car net profit of 1.1 billion yuan year-on-year big increase 76%

NetEase Finance August 10 News of China's Eleven-Five railway expansion plan the biggest beneficiary-China Southern Car today released a semi-annual report, as a result of the economic crisis and domestic macro-control under the influence of lower base, the first half of this year, sales, profits year-on-year growth, all over the construction of the subway and "go out" strategy has become the main reason for growth. The first half of the company's operating profit of 1.66 billion yuan, an increase of 91.05% per cent, attributable to the listed company's shareholders net profit of 1.1 billion yuan, growth of 76%.　　The basic earnings per share was 0.9 yuan, up 80% from 0.5 yuan in the same period last year. The implementation of the "go out" strategy overseas sales increased 85% benefited from the second-tier cities a large number of subway projects were approved to build, China South car Metro vehicle plate in the first half of the sales revenue of 3.4 billion yuan, the year-on-year increase of 185.07%. Production and sales of locomotives and wagons also grew by 87.28% and 76.27% respectively, 7.9 billion and 3.5 billion respectively. And the first half of the bus business income fell 25.35% to 2.1 billion Yuan Year-on-year. At present, locomotives, lorries, EMU and urban rail subway are the four pillar income of China South vehicle, accounting for about three-fourths of total income.　　The first half of the total income of 28 billion yuan, an increase of 51.2% per cent, gross margin of 16.43%. In the region, accounting for 97% of the domestic business income of about 27 billion yuan, an increase of 50%, overseas business, although only accounted for 3%, but in the first half of the year won 85% revenue growth, reached 1 billion yuan. "Going out" to take overseas locomotive orders is an important strategy for the company, the group has planned to increase the proportion of overseas sales to 10% to 20% in 3 years-5 years, currently only 3%.　　By 2012, the company plans to increase sales to 100 billion yuan a year overseas. Reserve order Adequacy Although overseas income is only 1 billion yuan in the first half of this year, a number of overseas orders have recently been announced to guarantee future revenue growth, from countries such as Saudi Arabia, India and Malaysia.　　According to the statistics by the end of July, China South car to obtain a total of 760 million U.S. dollars, more than 5 billion yuan orders.　　A few days ago, the South car Zhuzhou locomotive won the Chinese Ministry of Railways 590 high-power AC drive six-axis 7200kW electric locomotive contract, a total value of about 8.6 billion yuan.　　GF Securities Transportation Industry analysts believe that the current domestic construction of a number of passenger dedicated lines ahead of schedule, the delivery of EMU will also be in advance, is expected this year, China's southern car into the peak delivery, the second half of the income can still be period. At present, China South Car's rail vehicle capacity is full, the recent signing of overseas orders to start next year can not begin to implement, and will not contribute to the profitability of this year.