CRRC Group Corporation, known as CRRC Group, is a Chinese state-owned holding company, direct parent company of CRRC and 32 other subsidiaries; if including second-tier subsidiaries, the holding company is the head of 112 legal entities (as in 2016).[3]
In 2015, as part of the reform of the whole railway industry, which saw the closure of the Ministry of Railways and spin-off the China Railway as operator and purchaser, the National Railway Administration as 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 form CRRC (excluding CRRC Times Electric and Times Material Technology).
In 2017, CRRC Group was reincorporated from "Industrial Enterprises Owned by the Whole People" (Chinese: 全民所有制工业企业) to state-owned limited company (国有独资公司), renaming from 中国中车集团公司 to 中国中车集团有限公司.[6]
Business overview
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 the initial public offering of the two listed flagship subsidiaries, as sub-holding companies for auxiliary assets that were not listed. However, CRRC Group also contained a shipbuilding subsidiary CNR 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 of South Huiton (42.64%) and Ziyang CRRC Electrical Technology for 51%. The shares of the latter were purchased from CRRC's CRRC Ziyang for about CN¥448 million.[10]
China Unicom A share – via a private equity fund of Aegon–Industrial Fund Management (Chinese: 兴全基金)[17] that subscribed by CRRC Financial and Securities Investment
^, "Dali" company (Chinese: 大力; 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 to CRRC Dalian, a CRRC direct subsidiary
References
^"集团领导" [Leaders of the Group] (in Chinese). CRRC Group. Retrieved 11 June 2017.
^ ab"2016 Annual Report". CRRC Group (in Chinese). Shanghai Clearing House. 30 April 2017. Archived from the original on 30 September 2017. Retrieved 11 June 2017.
^"非公开发行A股股票预案" (in Chinese). China United Network Communications. 21 August 2017. Archived from the original on 27 September 2017. Retrieved 25 August 2017 – via cninfo.com.cn.
^"2016 Annual Report"(PDF). CRRC Times Electric. Hong Kong Stock Exchange. 20 April 2017. Retrieved 10 June 2017.
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