China CSR Corp reported net profits of CNY5.74 billion in the first 10 months of 2014, up from CNY5.07 billion in the previous full year, while China CNR Corp said net profits hit CNY4.57 billion in the January-October period, versus CNY4.23 billion in all of 2013. The two firms said they got board approvals for their merger plan and would convene shareholders’ meetings on March 9. An independent financial advisor said in a report filed to the stock exchange that after the merger, the new company would have total assets of CNY305 billion, and its debt to asset ratio was 67% as of October 2014. The firm would have a revenue of CNY167.4 billion and net profit of CNY10 billion in the first ten months of 2014.