China Knowledge reported that China South Industries Group Corp a manufacturer of automobiles, motorcycles, vehicle components, optical-electronic products and other special products saw its profit increase 9.56%YoY to CNY 8.18 billion last year.

Mr Gong Yande Deputy General Manager of the group said the group business revenue rose 8.81%YoY to CNY 279.86 billion in 2011. The auto division generated profit of CNY 5.51 billion and business revenue of CNY 126.10 billion last year.

He added that CSGC aims to realize profit of more than CNY 10 billion this year.

The group saw its sales of independently developed passenger vehicles increase 13.4%YoY to 1.37 million units last year and sales of motorcycles rise 12.5% to 4.73 million units.

CSGC is parent company of China Changan Automobile Group one of the top four auto makers in China.

(Sourced from China Knowledge)