Wikipedia

CRRC Group

CRRC Group Corporation,known asCRRC Group,is a Chinese state-owned holding company, direct parent company ofCRRCand 32 other subsidiaries; if includingsecond-tier subsidiaries,the holding company is the head of 112 legal entities (as in 2016).[3]

CRRC Group
Company typestate-owned enterprise
IndustryManufacturing, real estate
Predecessor
  • CNR Group
  • CSR Group
Founded2015;9 years ago(2015)
FounderSASAC
Headquarters
Beijing
,
China
Area served
China, export worldwide
Key people
Liu Hualong (Chairman &Party Committee Secretary)[1]
Products
  • locomotive
  • rolling stock
  • real estate
RevenueDecreaseCN¥233.093billion(2016)
DecreaseCN¥014.382 billion (2016)
SteadyCN¥005.715 billion (2016)
Total assetsIncreaseCN¥358.871 billion (2016)
Total equityIncreaseCN¥063.259 billion (2016)
OwnerChinese Government(100%)
Subsidiaries
CRRC(55.92%)
South Huiton(42.64%)
full list
Chinese name
Simplified ChineseTrung Quốc trung xe tập đoàn công ty hữu hạn
Traditional ChineseTrung Quốc trung xe tập đoàn công ty hữu hạn
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngguó zhōngchē jítuán gōngsī
Alternative Chinese name
Simplified ChineseTrung xe tập đoàn
Traditional ChineseTrung xe tập đoàn
Transcriptions
Standard Mandarin
Hanyu Pinyinzhōngchē jítuán
Websitecrrcgc.cc
Footnotes / references
inconsolidated financial statement[2]

History

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The predecessors of the holding company:CNR GroupandCSR Group,were formed in 2002 by splittingChina National Railway Locomotive & Rolling Stock Industry Corporation[zh](LORIC), a corporation under theMinistry of Railways.[4]: 70 

The control of CNR Group and CSR Group were also transferred from the Ministry of Railways to theState-owned Assets Supervision and Administration Commission of the State Council(SASAC) in the same year,[4]: 70 became duopoly in locomotives and rolling stock manufacturing. In2000s,CNR,CSR,Zhuzhou Times New Material Technology(2002)[5]andZhuzhou CSR Times Electric(2006)[4]were spin-off from the groups as listed companies.

In 2015, as part of the reform of the whole railway industry, which saw the closure of the Ministry of Railways and spin-off theChina Railwayas operator and purchaser, theNational Railway Administrationas regulator, the two duopoly also merged back into one holding company under the SASAC, by CNR Group absorbing CSR Group, and renamed into CRRC Group; their two main listed subsidiaries were also merged to formCRRC(excluding CRRC Times Electric and Times Material Technology).

In 2017, CRRC Group was reincorporated from "Industrial Enterprises Owned by the Whole People" (Chinese:Chế độ sở hữu toàn dân công nghiệp xí nghiệp) to state-ownedlimited company(Quốc có vốn riêng công ty), renaming fromTrung Quốc trung xe tập đoàn công tytoTrung Quốc trung xe tập đoàn công ty hữu hạn.[6]

Business overview

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The main activity of CRRC Group is holding company, as well as equity investments via CSR Investment Management, CRRC Group Capital Holdings and CRRC Industrial Investment.[7]Most of the other subsidiaries were the original legal entities of the factories that under CNR and CSR Groups, which after theinitial public offeringof the two listed flagship subsidiaries, as sub-holding companies for auxiliary assets that were not listed. However, CRRC Group also contained a shipbuilding subsidiaryCNR Ship & Ocean Engineering Development,which was an investment vehicle of CNR Group.

CRRC Group also engaged in real estate development in Taiyuan,[8]on top of the old factory of CRRC Taiyuan. CRRC Group paid CN¥1.711 billion to bid back the land lease from the local government.[9]

CRRC Industrial Investment were the parent company ofSouth Huiton(42.64%) and Ziyang CRRC Electrical Technology for 51%. The shares of the latter were purchased from CRRC'sCRRC Ziyangfor about CN¥448 million.[10]

Subsidiaries

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As of 31 December 2016[2]

Only 33 direct subsidiaries were listed:

  1. CRRC(55.92%)
  2. CNR Group Qiqihar Railway Rolling Stock (Group) Co., Ltd. (100%,CRRC Qiqihar Railway Rolling Stockwas spin-off and belongs to CRRC)
  3. CRRC Group Wuhan Jiang'an Rolling Stock Works (100%, the factory was spin off and belongs toCRRC YangtzeWuhan branch, a subsidiary of CRRC)
  4. CNR Group Tianjin Locomotive & Rolling Stock Machinery Works (100%,CRRC Tianjin Equipmentwas spin-off and belongs to CRRC)
  5. CRRC Group Tongling Rolling Stock Works (100%, the factory was spin off and belongs toCRRC Yangtze Tongling,a subsidiary of CRRC Yangtze)
  6. CRRC Group Harbin Rolling Stock Co., Ltd. (100%,CRRC Harbin Rolling Stockwas spin-off and belongs to CRRC)
  7. CRRC Group Luoyang Locomotive Works (100%,CRRC Luoyangwas spin-off and belongs to CRRC)
  8. CRRC Group Meishan Rolling Stock Works (100%,CRRC Meishanwas spin-off and belongs to CRRC)
  9. CNR Group Jinan Locomotive & Rolling Stock Works (100%,CRRC Shandongwas spin-off and belongs to CRRC)
  10. CRRC Group Xiangyang Locomotive Works (100%, the factory was spin-off and belongs to CRRC Luoyang, Xiangyang branch)
  11. CRRC Group Ziyang Locomotive Works (100%,CRRC Ziyangwas spin-off and belongs to CRRC)
  12. CRRC Group Wuhan Wuchang Rolling Stock Works (100%, the factory was spin off and belongs to CRRC Yangtze, Wuhan branch)
  13. CNR Ship & Ocean Engineering Development Co., Ltd.(94%)
  14. CRRC Dalian Dali Railway Transportation Equipment Co., Ltd. (100%)[nb 1]
  15. CNR Group Beijing February 7 Locomotive Works (100%,CRRC Beijing Locomotivewas spin-off and belongs to CRRC)
  16. CRRC Group Nanjing Puzhen Rolling Stock Works (100%,CRRC Nanjing Puzhenwas spin-off and belongs to CRRC)
  17. CRRC Group Qingdao Sifang Rolling Stock Asset Management (100%,CRRC Qingdao Sifangwas spin-off and belongs to CRRC)
  18. CRRC Group Taiyuan Locomotive & Rolling Stock Works (100%,CRRC Taiyuanwas spin-off and belongs to CRRC)
  19. CRRC Group Shenyang Locomotive & Rolling Stock Trading Corporation (100%,CRRC Shenyangwas spin-off and belongs to CRRC)
  20. CRRC Group Xi'an Rolling Stock Works (100%,CRRC Xi'anwas spin-off and belongs to CRRC)
  21. CRRC Group Zhuzhou Electric Locomotive Works (100%,CRRC Zhuzhou Locomotivewas spin-off and belongs to CRRC)
  22. CRRC Group Zhuzhou Rolling Stock Works (100%, the factory was spin off and belongs to CRRC Yangtze, Zhuzhou branch)
  23. CRRC Group Beijing Nankou Locomotive & Rolling Stock Machinery Works (100%,CRRC Beijing Nankouwas spin-off and belongs to CRRC)
  24. Changzhou Institute of Railway Technology (100%)
  25. CRRC Group Chengdu Locomotive & Rolling Stock Works (100%,CRRC Chengduwas spin-off and belongs to CRRC)
  26. CRRC Group Shijiazhuang Rolling Stock Works (100%,CRRC Shijiazhuangwas spin-off and belongs to CRRC)
  27. CRRC Group Changzhou Qishuyan Locomotive & Rolling Stock Works (100%,CRRC Qishuyanwas spin-off and belongs to CRRC)
  28. CSR Group Investment Management Co., Ltd. (100%)
  29. CRRC Group Capital Holdings Co., Ltd. (100%)
  30. CRRC Industrial Investment Co., Ltd. (100%)
  31. CRRC Real Estate (100%)
  32. CNR Group Australia (100%)
  33. Chinese:Bắc Kinh thời đại chí nghiệp máy xe chiếc xe công ty hữu hạn(100%,Beijing CSR Times Locomotive & Rolling Stock Machinerywas spin-off and belongs to CRRC)

other notable second-tier subsidiaries (other than CRRC subsidiaries)

unknown tier:

  • CRRC Financial and Securities Investment (100%)[12]

Equity investments

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As of 13 January 2017

former

Notes

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  1. ^,"Dali" company (Chinese:Mạnh mẽ;pinyin:Dà Lì) was found in 2007; not to be confused with "Daqi" Railway Transportation Equipment founded by CNR Group Qiqihar in 2007;[11]both NOT related toCRRC Dalian,a CRRC direct subsidiary

References

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  1. ^"Tập đoàn lãnh đạo"[Leaders of the Group] (in Chinese). CRRC Group.Retrieved11 June2017.
  2. ^ab"2016 Annual Report".CRRC Group(in Chinese). Shanghai Clearing House. 30 April 2017. Archived fromthe originalon 30 September 2017.Retrieved11 June2017.
  3. ^Tjia Yin-nor, Linda (October 2015).Explaining Railway Reform in China: A Train of Property Rights Re-arrangements.Routledge.ISBN9781136212321.
  4. ^abc"Prospectuses"(index of PDF download links).Zhuzhou CSR Times Electric.Hong Kong Stock Exchange. 8 December 2006.Retrieved10 June2017.
  5. ^"Công ty tình hình chung [600458]"(in Chinese). Shanghai Stock Exchange.Retrieved11 June2017.
  6. ^2018 năm nửa năm độ báo cáo[2018 Half-yearly report (A share)](PDF)(Report) (in Chinese (China)). CRRC Corporation Limited. 2018. p. 49.
  7. ^"China's CRRC Industrial Investment opens European office in Budapest".Xinhua News Agency. 16 May 2016. Archived fromthe originalon May 24, 2016.Retrieved11 June2017.
  8. ^Trung xe · quốc tế quảng trường nhị kỳ có phẩm chất càng phải có sinh hoạt(re-published byXinhuaNet).Shanxi Late News(in Chinese). 25 April 2017.Retrieved11 June2017.
  9. ^"China Daily Website - Connecting China Connecting the World"Trung xe trí nghiệp 17.11 trăm triệu nguyên trích đến Thái Nguyên máy xe xưởng cũ xưởng cánh đồng.China Daily(in Chinese). 31 December 2015.Retrieved11 June2017.
  10. ^"Announcement on connected transaction: Transfer of Equity Interest in Ziyan Electrical"(PDF).CRRC Corp., Ltd.(Press release). Hong Kong Stock Exchange. 23 December 2016.Retrieved11 June2017.
  11. ^"Công ty tóm tắt"(in Chinese). CRRC Qiqihar Railway Rolling Stock.Retrieved30 September2017.
  12. ^"Nam xe đầu tư hướng trung xe kim chứng không ràng buộc hoa chuyển Trung Quốc trung xe (01766)0.32% vốn cổ phần".Trí thông kinh tế tài chính võng(in Chinese). 3 August 2017. Archived fromthe originalon 29 September 2017.Retrieved28 September2017– via qq.
  13. ^"Home".cctfund.cn.
  14. ^"Trung Quốc xí nghiệp quốc hữu kết cấu điều chỉnh quỹ 26 ngày thành lập, là trước mắt quốc nội quy mô lớn nhất cổ quyền đầu tư quỹ 3500 trăm triệu nguyên, chủ công quốc xí điều kết cấu _ lăn lộn tin tức _ Trung Quốc chính phủ võng".
  15. ^"OVERSEAS REGULATORY ANNOUNCEMENT - Clarification announcement"(PDF)(Press release). CRRC. 17 August 2017.Retrieved26 August2017.
  16. ^"Trung Quốc xí nghiệp quốc hữu kết cấu điều chỉnh quỹ thành lập tổng quy mô đạt 3500 trăm triệu nguyên".China Securities Journal(in Chinese). 27 September 2016. Archived fromthe originalon September 27, 2016.Retrieved26 August2017.
  17. ^"Phi công khai phát hành A cổ cổ phiếu dự án"(in Chinese). China United Network Communications. 21 August 2017. Archived fromthe originalon 27 September 2017.Retrieved25 August2017– via cninfo.cn.
  18. ^"2016 Annual Report"(PDF).CRRC Times Electric.Hong Kong Stock Exchange. 20 April 2017.Retrieved10 June2017.
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