Bloomberg quoted China International Capital Corp said Maanshan Iron & Steel Co completed trials of train wheels that can run at 250 kilometres an hour paving the way for mass orders of the product.

CICC analysts Mr Luo Wei based in Shanghai and Mr Ding Yue said sales of the product are expected to contribute profit of CNY 0.08 a share next year for Maanshan, China’s biggest producer of train wheels. Trials by the Ministry of Railways started early this year and ended in October.

Three calls to the office of Hu Shunliang, investor relations official with Maanshan were unanswered.

(Sourced from Bloomberg)