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Chinese holding company From Wikipedia, the free encyclopedia
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]
.jpg) Headquarters of CRRC Group in Fangzhuang | |||||||
| Company type | state-owned enterprise | ||||||
|---|---|---|---|---|---|---|---|
| Industry | Manufacturing, real estate | ||||||
| Predecessor |
| ||||||
| Founded | 2015 | ||||||
| Founder | SASAC | ||||||
| Headquarters | Beijing , China | ||||||
Area served | China, export worldwide | ||||||
Key people | Liu Hualong (Chairman & Party Committee Secretary)[1] | ||||||
| Products |
| ||||||
| Revenue |  CN¥233.093 billion (2016) | ||||||
| CN¥14.382 billion (2016) | |||||||
 CN¥5.715 billion (2016) | |||||||
| Total assets |  CN¥358.871 billion (2016) | ||||||
| Total equity | CN¥63.259 billion (2016) | ||||||
| Owner | Chinese Government (100%) | ||||||
| Subsidiaries |
| ||||||
| Chinese name | |||||||
| Simplified Chinese | 中国中车集团有限公司 | ||||||
| Traditional Chinese | 中國中車集團有限公司 | ||||||
| |||||||
| Alternative Chinese name | |||||||
| Simplified Chinese | 中车集团 | ||||||
| Traditional Chinese | 中車集團 | ||||||
| |||||||
| Website | crrcgc.cc | ||||||
| Footnotes / references in consolidated financial statement[2] | |||||||
The predecessors of the holding company: CNR Group and CSR Group, were formed in 2002 by splitting China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC), a corporation under the Ministry of Railways.[4]: 70
The control of CNR Group and CSR Group were also transferred from the Ministry of Railways to the State-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. In 2000s, CNR, CSR, Zhuzhou Times New Material Technology (2002)[5] and Zhuzhou 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 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]
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]
Only 33 direct subsidiaries were listed:
other notable second-tier subsidiaries (other than CRRC subsidiaries)
unknown tier:
former
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