CRRC Corp. Ltd.
In the news
- China looks to build new maglev rail line to boost economy Apr 17, 2020
- Alstom strikes at China rail dominance with Bombardier buy Feb 19, 2020
- China rail giant's 'American factory' braces for political storm Nov 1, 2019
- Myanmar rushes power plant projects to avoid more blackouts Oct 28, 2019
- Hitachi targets high-speed rail projects from Texas to Thailand Oct 24, 2019 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 2021 | HKD | USD |
Revenue | 270,022.48M | 34,739.24M |
Gross Profit | 51,102.87M | 6,574.54M |
Operating income | 13,060.25M | 1,680.24M |
Income before tax | 16,452.92M | 2,116.72M |
Net income | 12,416.81M | 1,597.46M |
EBITDA | 22,474.59M | 2,891.42M |
Diluted EPS | 0.43 | 0.05 |
Dividends Per Share | 0.21 | 0.02 |
Total Assets | 522,594.74M | 67,031.12M |
Total liabilities | 291,458.10M | 37,384.15M |
Total equity | 181,745.89M | 23,311.81M |
Operating cash flow | 25,859.09M | 3,326.85M |
Currency in HKD | Currency in USD |
Historical Data
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 240,878.74M | 257,078.90M | 257,481.43M | 253,842.10M | 270,022.48M |
Gross Profit | 50,451.01M | 52,802.28M | 55,248.33M | 52,381.33M | 51,102.87M |
Operating income | 14,201.72M | 14,840.20M | 15,049.03M | 14,996.17M | 13,060.25M |
Income before tax | 17,133.65M | 17,511.03M | 18,438.28M | 18,074.56M | 16,452.92M |
Net income | 12,443.36M | 13,390.30M | 13,374.46M | 12,732.62M | 12,416.81M |
EBITDA | 21,692.40M | 22,670.06M | 23,279.91M | 23,525.33M | 22,474.59M |
Diluted EPS | 0.43 | 0.45 | 0.45 | 0.43 | 0.43 |
Dividends Per Share | 0.18 | 0.17 | 0.16 | 0.21 | 0.21 |
Total Assets | 450,562.86M | 407,852.80M | 429,158.60M | 465,402.24M | 522,594.74M |
Total liabilities | 273,285.62M | 230,883.15M | 244,154.45M | 256,854.07M | 291,458.10M |
Total equity | 145,954.86M | 146,487.64M | 152,009.99M | 169,571.86M | 181,745.89M |
Operating cash flow | 19,476.97M | 23,521.45M | 27,090.10M | -5,361.09M | 25,859.09M |
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 30,910.35M | 32,800.94M | 32,862.14M | 32,728.50M | 34,739.24M |
Gross Profit | 6,474.04M | 6,737.09M | 7,051.30M | 6,753.65M | 6,574.54M |
Operating income | 1,822.41M | 1,893.47M | 1,920.69M | 1,933.49M | 1,680.24M |
Income before tax | 2,198.64M | 2,234.24M | 2,353.26M | 2,330.39M | 2,116.72M |
Net income | 1,596.77M | 1,708.48M | 1,706.97M | 1,641.64M | 1,597.46M |
EBITDA | 2,783.64M | 2,892.49M | 2,971.19M | 3,033.18M | 2,891.42M |
Diluted EPS | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
Dividends Per Share | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Total Assets | 57,636.63M | 52,092.80M | 55,078.23M | 60,022.08M | 67,031.12M |
Total liabilities | 34,959.08M | 29,489.44M | 31,334.79M | 33,126.00M | 37,384.15M |
Total equity | 18,670.75M | 18,710.06M | 19,508.96M | 21,869.37M | 23,311.81M |
Operating cash flow | 2,499.34M | 3,001.12M | 3,457.48M | -691.21M | 3,326.85M |
Valuation Measures
Dec 2021 | |
PER | 7.74 |
ROA | 2.51% |
ROE | 7.06% |
Operating margin | 4.83% |
Profit margin | 4.59% |
Key executives
- Chairman & General Manager: Yong Cai Sun
- President & Executive Director: Qi Liang Lou
- Chief Financial Officer & Chief Accountant: Zheng Li
- Vice President: Jun Zhang
- Vice President: Gong Cheng Wang
Shareholders
- UBS Asset Management Switzerland AG (7.6%)
- China State-Owned Assets Supervision & Admn Commission (4.0%)
- Lazard Asset Management LLC (3.7%)
- The Vanguard Group, Inc. (2.9%)
- BlackRock Fund Advisors (0.9%)
- HSBC Global Asset Management (Hong Kong) Ltd. (0.9%)
- CTBC Investments Co., Ltd. (0.9%)
- UBS Switzerland AG (Investment Management) (0.7%)
- BlackRock Advisors (UK) Ltd. (0.5%)
- BlackRock Japan Co., Ltd. (0.5%)
Contact Details
- Website:http://www.crrcgc.cc
- Address: No.16 Central West Fourth Ring Road, Haidian District, Beijing, 100036, China
- Phone: +86.10.5186.2188
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Competitors
- Caterpillar Inc.
- Xiangtan Electric Manufacturing Co., Ltd. Class A
- Shenzhen Inovance Technology Co., Ltd Class A
- Zhuzhou CRRC Times Electric Co., Ltd. Class H
- Inner Mongolia North Hauler Joint Stock Co., Ltd Class A
- Alstom SA
- Beijing Tianyishangjia New Material Corp. Ltd. Class A
- China High-Speed Railway Technology Co. Ltd. Class A
- Hyundai Motor Company
- Westinghouse Air Brake Technologies Corporation
- Stadler Rail AG
- Yeal Electric Co., Ltd. Class A
- Ebusco Holding N.V.
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