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CASC Net Profit Surpasses 10 bln in 2011
SOURCE: China Space News     UPDATED: 2012-02-24
BEIJING, Feb. 15. (China Space News) — China Aerospace Science and Technology Corporation (CASC) announced at an economic work conference on Feb. 14 that its net profit reached a record high of more than 10 billion yuan (1.59 billion U.S. dollars) in 2011.

The corporation also said at the conference that its total assets jumped to over 200 billion yuan for the first time last year.

The net profit of CASC in 2011 exceeded 10 billion yuan, ranking among the best of the nation's military industry groups, and ranked first in terms of military task evaluation and business performance, it said at the event.

CASC has been graded an A-rated company by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) for seven consecutive years.