China North Industries Group Corporation (CNGC), a large state-owned military equipment producer, posted a 41.5% gain in profits last year on revenues of US$17.44 billion (RMB126.5 billion), up 20.8% year on year, the China Securities Journal reported. The newspaper did not give profit figures or any other financial details but said all financial indicators of the company’s operating activities hit record highs last year. Revenues from offshore ...