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China's XCMG posts soaring business revenue in 2009
(Xinhua)
Updated: 2010-02-09 11:53
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BEIJING: XCMG Construction Machinery CO Ltd (XCMG), China's largest construction machinery maker, said Tuesday its business revenue in 2009 surged 30.3 percent year on year to nearly 20.7 billion yuan ($3 billion).
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The Jiangsu-based company attributed rising profits to its focus on domestic market, technological innovations, asset regroup as well as overseas expansion.
Despite revenue rise, XCMG's shares opened slightly lower at 35 yuan per share on Tuesday morning, down 0.28 percent from the previous closing.
