CRRC Co., Ltd., a large-scale manufacturer of urban rail and subway vehicles, a leading R&D and manufacturing base for electric locomotives, and a world-leading supplier of high-end equipment system solutions with rail transit equipment as the core
CRRC Corporation Limited (Chinese abbreviated as "CRRC", abbreviated as "CRRC") is an A-H-share listed company established by the merger of CNR Co., Ltd. and China South Locomotive Co., Ltd. in accordance with the principle of reciprocity with the consent of the State Council and the State-owned Assets Supervision and Administration Commission of the State Council. With the approval of the China Securities Regulatory Commission, CRRC was successfully listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange on June 8, 2015. There are 46 wholly-owned and holding subsidiaries with more than 170,000 employees. It is headquartered in Beijing.
CRRC inherits all the business and assets of CNR Co., Ltd. and China CSR Co., Ltd., and is the world's largest, most complete and technologically advanced rail transit equipment supplier. Main business: railway rolling stock, EMU, urban rail transit vehicles, construction machinery, all kinds of mechanical and electrical equipment, electronic equipment and parts, electronic appliances and environmental protection equipment products research and development, design, manufacturing, repair, sales, leasing and technical services; information consultation; industrial investment and management; asset management; Import and export business.
CRRC adheres to independent innovation, open innovation and collaborative innovation, continuously improves the technological innovation system, continuously improves technological innovation capabilities, and builds the world's leading rail transit equipment product technology platform and manufacturing base. The high-speed EMU series products manufactured by CRRC have become an important business card for China to show its development achievements to the world. The products have been exported to nearly 100 countries and regions on six continents around the world, and gradually changed from product export to technology export, capital export and global operation.
Facing the future, CRRC will take the integration of the world and exceed expectations as its own responsibility, firmly grasp the strategic opportunities such as the "Belt and Road" and the development of the global rail transit equipment industry, vigorously implement the internationalization, diversification and collaborative development strategy, comprehensively promote the globalization strategy with "transformation and upgrading, transnational operation" as the main feature, and strive to be the innovation vanguard of "Made in China 2025" and "Internet +", and strive to build CRRC into a cross-border operation with rail transit equipment as the core. The world's leading supplier of high-end equipment system solutions.
Merge events
On September 28, 2015, CRRC Group Corporation, which was formed by the reorganization and merger of China South Locomotive and Locomotive Corporation, was officially announced。 CRRC (601766, SH) issued an announcement on the progress of the merger of the largest shareholder and the second largest shareholder, saying that the industrial and commercial change registration of the CNR Group involved in the absorption and merger of China South Locomotive (13.23, -0.05, -0.38%) Group has been completed, and the CNR Group has been renamed "CRRC Group Corporation".
It is understood that under the framework of the current laws and policies, the reorganization and merger of North and South Vehicles creatively proposed the method of "reciprocal merger", and adopted the reorganization steps of merging the joint-stock company first and then merging the group company. On the technical operation path, at the level of listed companies, CSR shares absorb and merge CNR shares; At the group company level, CNR Group was absorbed and merged into CSR Group. In the placement of personnel at the headquarters, the principle of "cross-reciprocity" is also followed.
