China North Industries Group Corporation (CNGC), China's largest military equipment producer, saw its prime operating revenue amount to 145 billion yuan (US$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.
(China Daily January 6, 2009)
