China CNR announces major contracts

China CNR Corporation Limited, a leading manufacturer of locomotives and rolling stock in China, on Sunday announced major contracts worth 24.26 billion yuan (3.95 billion U.S dollars).

The company said in a statement filed with the Shanghai Stock Exchange that 12 of its subsidiaries recently signed more than 30 contracts with both Chinese and foreign companies, involving high-speed trains, subway trains, locomotives, as well as other products and services.

"The total volume of the contracts represented 24.95 percent of the company's 2013 revenue," the statement read.

On Friday, the company's shares in Shanghai dropped 2.66 percent to 13.88 yuan.