TABLE-China State Shipbuilding '07 net more than doubles

March 18 (Reuters) -Year ended Dec. 31, 2008.

(millions of yuan unless stated, against 2006 figures):

2007 2006

Turnover 17,876.15 11,741.55

Net profit 2,917.66 1,217.88

Earnings per share (yuan) 5.53 2.63

Net assets per share (yuan) 14.13 13.40

Company: China State Shipbuiding Co (600150.SS: Quote, Profile, Research, Stock Buzz), previously
known as Hudong Heavy Machinery Co, is the listed vehicle of
China's biggest shipbuilder, China State Shipbuiding Corp (CSSC).

Note: The company published audited results, compiled under
domestic accounting standards. Year-earlier figures were revised
to reflect new accounting rules.

China State Shipbuilding attributed the jump to its purchase
of 12 billion yuan ($1.69 billion) of ship building and repair
assets from its parent through a share placement in September
2007, as well as to strong demand for ship engines it
manufactures.

It aims to increase its sales to 24.4 billion yuan in 2008,
up 36 percent from a year earlier.

In January, the firm projected a jump of 950 to 1,050 percent
in its 2007 earnings under old accounting standards.
($1=7.083 Yuan)
(Reporting by Fang Yan in Shanghai; Editing by Edmund Klamann)