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CRRC Corp. Ltd.
- 7.96 HKD
- -0.15
- -1.85%
China
Mar 18, 2019Ticker
HKG(1766)Prev. close
8.11Market cap (HKD)
304,026.37MMarket cap (USD)
38,729.99MShares
28,698.86M
In the news
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- How China's state-backed companies fell behind May 23, 2018
- Hong Kong shares fall in shortened trading week Mar 29, 2018
- Hong Kong shares slip as tech stocks remain under pressure Mar 29, 2018 See more articles on CRRC Corp. Ltd.
Company Background
CRRC is China's state-owned train manufacturer formed through a recent megamerger of CSR and China CNR. It virtually monopolizes China's rail car market and is the world's largest train manufacturer, with a 50% share of subway cars around the globe.
Its origins can be traced back to the Qing dynasty in the late 1800s. After the establishment of the People's Republic of China in 1949, CRRC made rail cars as a state-owned train maker under the former Ministry of Railways. CRRC was split into CSR and CNR in 2000 following state-owned company reforms. However, it merged again as a gigantic train maker at the request of President Xi Jinping's administration, a proponent for Chinese companies expanding overseas.
CRRC is focused on exporting high-speed railways. In an effort to adopt train manufacturing technology, CSR has so far teamed up with Japan's Kawasaki Heavy Industries and Canada's Bombardier, while CNR has partnered with Germany's Siemens and France's Alstom. The consolidation will enable CRRC to merge advanced technology. It also manufactures train driving and control components, which have had to be imported in the past.
As the government has 60% of outstanding shares, CRRC's business is inseparably linked to China's national policy. CRRC is eager to take advantage of economies of scale to increase orders from Southeast Asia, Africa and South America.
Business Summary
Financial Highlights
| Dec 2017 | HKD | USD |
| Revenue | 240,878.31M | 30,910.30M |
| Gross Profit | 50,985.95M | 6,542.68M |
| Operating income | 13,903.14M | 1,784.09M |
| Income before tax | 17,149.94M | 2,200.73M |
| Net income | 12,451.67M | 1,597.83M |
| EBITDA | 21,355.74M | 2,740.44M |
| Diluted EPS | 0.42 | 0.05 |
| Dividends Per Share | 0.18 | 0.02 |
| Total Assets | 450,520.14M | 57,631.16M |
| Total liabilities | 273,289.75M | 34,959.60M |
| Total equity | 145,924.44M | 18,666.85M |
| Operating cash flow | 19,505.46M | 2,503.00M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | |
| Revenue | 123,462.40M | 277,854.83M | 296,778.84M | 266,230.73M | 240,878.31M |
| Gross Profit | 21,569.10M | 53,587.69M | 56,521.63M | 51,463.48M | 50,985.95M |
| Operating income | 0 | 18,502.86M | 19,708.50M | 17,800.54M | 13,903.14M |
| Income before tax | 7,027.36M | 17,304.64M | 20,512.13M | 19,238.86M | 17,149.94M |
| Net income | 5,223.47M | 13,611.58M | 14,577.76M | 13,191.60M | 12,451.67M |
| EBITDA | 8,941.14M | 25,123.11M | 27,376.45M | 25,404.64M | 21,355.74M |
| Diluted EPS | 0.37 | 0.98 | 0.53 | 0.47 | 0.42 |
| Dividends Per Share | 0.11 | 0.14 | 0.17 | 0.23 | 0.18 |
| Total Assets | 155,140.84M | 373,509.87M | 372,008.30M | 377,473.68M | 450,520.14M |
| Total liabilities | 93,701.97M | 239,963.53M | 229,819.06M | 232,690.13M | 273,289.75M |
| Total equity | 46,825.40M | 111,616.53M | 115,651.10M | 116,986.68M | 145,924.44M |
| Operating cash flow | 6,935.46M | 38,101.44M | 18,750.63M | 25,196.51M | 19,505.46M |
| Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | |
| Revenue | 15,916.99M | 35,830.58M | 38,281.33M | 34,297.22M | 30,910.30M |
| Gross Profit | 2,780.72M | 6,910.36M | 7,290.69M | 6,629.79M | 6,542.68M |
| Operating income | 0 | 2,386.02M | 2,542.18M | 2,293.15M | 1,784.09M |
| Income before tax | 905.98M | 2,231.50M | 2,645.84M | 2,478.45M | 2,200.73M |
| Net income | 673.41M | 1,755.27M | 1,880.37M | 1,699.41M | 1,597.83M |
| EBITDA | 1,152.70M | 3,239.73M | 3,531.27M | 3,272.75M | 2,740.44M |
| Diluted EPS | 0.04 | 0.12 | 0.06 | 0.06 | 0.05 |
| Dividends Per Share | 0.01 | 0.01 | 0.02 | 0.03 | 0.02 |
| Total Assets | 20,008.49M | 48,164.68M | 48,000.13M | 48,686.49M | 57,631.16M |
| Total liabilities | 12,084.73M | 30,943.67M | 29,653.49M | 30,012.33M | 34,959.60M |
| Total equity | 6,039.06M | 14,393.12M | 14,922.43M | 15,088.92M | 18,666.85M |
| Operating cash flow | 894.13M | 4,913.34M | 2,418.63M | 3,245.94M | 2,503.00M |
Valuation Measures
| Dec 2017 | |
| PER | 19.07 |
| ROA | 3.00% |
| ROE | 9.47% |
| Operating margin | 5.77% |
| Profit margin | 5.16% |
Key executives
- President & Executive Director: Yong Cai Sun
- Chief Financial Officer & Vice President: Yan Jing Zhan
- Vice President: Jun Zhang
- Vice President: Qi Liang Lou
- Chief Engineer: Xin Ning Zhang
Shareholders
- Himalaya Capital Management LLC (4.9%)
- The Vanguard Group, Inc. (3.3%)
- BlackRock Fund Advisors (2.9%)
- Norges Bank Investment Management (1.2%)
- Robeco Institutional Asset Management BV (1.1%)
- BlackRock Investment Management (UK) Ltd. (0.9%)
- FIL Investment Management (Hong Kong) Ltd. (0.8%)
- APG Asset Management NV (0.8%)
- Morgan Stanley Investment Management Co. (0.7%)
- JPMorgan Asset Management (UK) Ltd. (0.7%)
Contact Details
- Website:http://www.crrcgc.cc
- Address: 16 Central West Fourth Ring Road, Haidian District, Beijing, 100036, China
- Phone: +86.10.5186.2188
Related Companies
- CRRC Guiyang Vehicle Co., Ltd.
- Beijing Tian Lu Traffic Equipment Co., Ltd.
- Datong CRRC Si Mccann railway transportation equipment
- Tianjin machine vehicle iron & Steel Co., Ltd.
- Wenzhou Zhong CRRC electrica equipment Co., Ltd.
- CRRC Logistics Co., Ltd.
- CRRC Real Estate Co. Ltd.
- CRRC Beijing Nankou Co. Ltd.
- CRRC Zhuzhou Electric Locomotive Co. Ltd.
- CRRC Beijing Locomotive Co., Ltd.
- CRRC Qingdao Sifang Rolling Stock Research Institute Co., Ltd.
- CRRC Trading Ltd.
- CRRC Beijing Erqi Vehicle Co., Ltd.
- CRRC Hong Kong Capital Management Co. Ltd.
- CRRC Wind Power (Shandong) Co., Ltd.
- Nanjing Puzhen Haitai Brake Equipment Co., Ltd.
- Jiangsu CSR Electric Co., Ltd.
- CRRC Ziyang Co. Ltd.
- CRRC Industrial Investment Co., Ltd.
- Zhongche Dalian Locomotive Vehicle Co. Ltd.
- Zhongche Ziyang Locomotive Co. Ltd.
- CRRC Sifang Co. Ltd.
- CRRC Yangtze Co. Ltd.
- CSR Shijiazhuang Co. Ltd.
- Shanghai Xinghan Asset Management Co. Ltd.
- CSR Yangtze Rolling Stock Co. Ltd.
- CSR Qishuyan Locomotive & Rolling Stock Works
- CSR Guiyang Vehicle Co. Ltd.
- Ningbo Yinzhou District Construction Investment & Development
- CRRC Investment & Leasing Co., Ltd.
Competitors
- Alstom SA
- Shenzhen INVT Electric Co., Ltd. Class A
- Westinghouse Air Brake Technologies Corporation
- Bombardier Inc. Class B
- Shenzhen Inovance Technology Co., Ltd Class A
- Hyundai Rotem Co.
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Last Updated on 18 Mar, 2019