Chinese high-speed train maker sees surge in profits
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China’s largest train manufacturer, CSR Corp, has reported that it expects its profits to increase more than 50% in 2010, largely due to the country’s rapidly developing high-speed rail network. In a statement to the Hong Kong Stock Exchange, CSR said it anticipates a 50% jump from the CNY1.68 billion (US$256 million) profit it achieved in 2009. CSR is the company responsible for building China’s fastest high-speed train, the CRH380A, which clocked a speed of 486.1kph on a trial run on the Beijing-Shanghai high-speed rail line late last year.
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