CSR Corporation Limited

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CSR Corporation Limited
中国南车股份有限公司
Type Joint stock limited liability company
Industry Locomotive and rolling stock manufacturing
Predecessors China South Locomotive and Rolling Stock Industry (Group) Corporation(founded 2002)
Founded 28 December 2007[1]
Headquarters Beijing, People's Republic of China
Key people Chairman, Executive director: Zhao Xiaogang
Chairman (supervisory board): Wang Yan
President: Zheng Changhong
Owners majority State-owned enterprise via China South Locomotive & Rolling Stock Industry (Group) Corporation
Website www.csrgc.com

China South Locomotive & Rolling Stock Corporation Limited (CSR) (SEHK1766, SSE: 601766) is a state-owned enterprise supervised by the State Council of the People's Republic of China. It is the world's largest manufacturer of electric locomotives.

History[edit]

In 1986 the China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC) was formed, comprising 35 production sites and 4 research centres.[2] In 2002 LORIC was separated from the ministry of Railways and China South Locomotive and Rolling Stock Industry (Group) Corporation (CSRG) was formed.[3] Its main competitor, the China North Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2000.[2]

In 2002 the group manufactured the 270 km/h (170 mph) China Star high speed EMU at the Zhuzhou Electric Locomotive Works.

In 2007 the China South Locomotive & Rolling Stock Corporation Limited (CSR) was formed.[3][note 1]

The company's H shares were first traded on the Hong-Kong stock market on 21 August 2008, the company's A shares began trading on the 18 August 2008.[4] The shares also began trading on the Shanghai Stock Exchange in August; $1.57 billion was raised in the share offers.[5][6] A 40% stake in the company was offered in total on the two exchanges.[7]

Between 2004 and 2007 CSR had ~50% of the internal Chinese market for locomotives and ~80% of the market for multiple units (by volume), as well as a ~50% share in locomotive and wagon refurbishment. In the same period overseas sales accounted for ~7-8% of revenue.[8]

In April 2010 the majority shareholder and state owned holding company China South Locomotive and Rolling Stock Industry (Group) Corporation was renamed to China South Locomotive Group.[9]

On 26 December 2011, CSR announced that it had successfully tested a super high speed train that was capable of traveling at 500 km/h.[10][11]

Company structure and subsidiaries[edit]

A label of CSR Meishan Company on a train

At the time of the restructuring and share issue in 2008 the company had 20 subsidiaries:

Manufacturing and maintenance
Research
  • CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd., R&D and manufacture of electric propulsion and control, suspension and noise reducing elements, polymer composites and insulators.[12]
  • CSR Qishuyan Locomotive & Rolling Stock Technology Research Institute Co., Ltd., R&D of mechanical transmissions, brakes, shock absorbers and manufacturing techniques.[12]
Export and leasing
  • New Leap Transportation Equipment Investment & Leasing Co., Ltd., investment in, leasing, sale, and technical support of rail vehicles.[12] (Renamed CSR Investment and Leasing on 2 December 2008)[13]
Other

The company owned ~46% of the shares in "South Huiton", a freight wagon manufacturer, and palm fibre processing company.[14] CSR (Hong Kong) Co. Ltd. based in Hong Kong was formed as 100% subsidiary in 2008.[15]

Joint ventures[edit]

Manufacturing and products[edit]

The main factories for the manufacture of locomotives are installed in Zhuzhou (electric locomotives), Ziyang, Luoyang, Xiangfan (diesel locomotives), Qishuyan, and Chengdu (the latter two also producing carriages). Carriages are built in factories in Nanjing, Zhuzhou, Beijing, Meishan, Wuchang, Tongling, Shijiazhuang, Wuhan and Guiyang. The company has two research institutes in Zhuzhou and Qishuyan.

Models[edit]

CSR SDD8 FCA (Ferrovia Centro-Atlântica) nº9564. Brasil
Passenger car built for Luanda Railway in Angola

The main models are manufactured:

  • Electric locomotives:
    • Type TM1
    • Type KZ4A high speed
    • Type DJ2 "Olympic star"
    • The family SS with SS3, SS4, SS6, SS8, SS9
    • Type AC 4000
    • Type HXD1 "Harmony": Orders have been placed for 1710 units and production capacity has been increased to 800 units per year.[16]
  • Electric trains:
    • High-speed train "China Star"
    • High-speed train "Central China Star"
  • Diesel locomotives
    • Qishuyan diesel locos for Guinea
    • Type 4B DF, DF 4C, DF 4D
    • Type DF 5B
    • Type DF 8B for goods declined in multiple versions
    • Type DF 11 for passenger trains and DF 11 billion high-speed
    • Type DF 12 cargo
    • The family DFH hydraulic transmission for Railways industrial DFH 3 and DFH 5
    • The family GKD hydraulic transmission for industrial railway, in several gauges ranging from 762 to 1435 mm.: GKD 01, GKD 02, GKD 03, GKD 05 B, GKD 1, GK 1, GK 1 C, GKD 1, GKD 5 and GKD 5 C
  • Cars
    • Type DDJ 1

The firm also built subway trains, particularly for networks in Shanghai Metro and Beijing Metro.

Exports[edit]

Sri Lanka Railways Class S12 trainset, manufactured by CSR.
  • In October 2008, China Southern Locomotive won a contract worth nearly $100 million from Kazakhstan, its third contract since entering that country's market in 2002.[17]
  • CSR also won a contract worth $391 million from Turkey to produce 324 vehicles for the Ankara Metro. It is envisaged that 75 of the 324 wagons will have at least 30% domestically manufacturer content while the remaining wagons will have 51%.[19]
  • On 22 October 2012, South Africa awarded a tender for 95 electric locomotives to CSR Zhuzhou Electric Locomotive works. The plan is part of a R4 trillion (US$462 billion) infrastructure improvement project in the country[20]
  • On January SOFSE (Public Company of Railways in Argentina) buys 709 coaches for Lines Sarmiento and Mitre and 300 for line Roca in Buenos Aires Metropolitan Railway

See also[edit]

Notes[edit]

  1. ^ The assets of China South Locomotive and Rolling Stock Industry (Group) Corporation were transferred to China South Locomotive & Rolling Stock Corporation Limited in exchange for shares in preparation for a potential share offer.
  2. ^ CSR Yangtze Rolling Stock Co., Ltd. was formed from CSR Qishuyan Locomotive & Rolling Stock Works (freight wagon assets), CSR Wuhan Jiang’an Rolling Stock Works, CSR Zhuzhou Rolling Stock Works, CSR Tongling Rolling Stock Works and CSR Wuchang Rolling Stock Works. Source: CSR Prospectus , 8 August 2008 , "Restructuring", p.85

References[edit]

  1. ^ "About Us - The Company - Brief Introduction of the Company", www.csrgc.com (China South Locomotive and Rolling Stock Corporation Limited), 11 June 2011, retrieved June 2012 
  2. ^ a b History www.chinacnr.com
  3. ^ a b History www.csrgc.com.cn
  4. ^ Baker & McKenzie Advises China South Locomotive & Rolling Stock Corporation Limited on its Global Offering – The Third Largest Hong Kong IPO , Deal Announcement , 25 August 2008 , www.bakermckenzie.com
  5. ^ China South Locomotive shares surge in Shanghai IPO , 18 August 2008 , www.nytimes.com
  6. ^ Zhongwang Said to Raise $1.3 Billion in Hong Kong IPO (Update1) , Bei Hu , 30 April 2009 , www.bloomberg.com
  7. ^ China South Locomotive May Raise $1.5 Billion in IPO (Update2) , Bei Hu , 3 August 2008 , www,bloomberg.com
  8. ^ CSR Prospectus , 8 August 2008 , "Overview", pp.1-3
  9. ^ 中国南车股份有限公司 关于公司第一大股东更名的公告 China South Locomotive Co., Ltd. : Largest company shareholder name change announcement , 15 April 2010 , www.csrgc.com.cn
  10. ^ China tests 500 kmh super high speed train
  11. ^ Test train can hit 500km/h
  12. ^ a b c d e f g h i j k l m n o p q r s CSR Prospectus , 8 August 2008 , "Our corporate structure", pp.88-93
  13. ^ a b China South Locomotives & Rolling Sotkc Corporation Limited: 2008 annual report p.10
  14. ^ CSR Prospectus , 8 August 2008 , "South Huiton", pp.142-144
  15. ^ China South Locomotives & Rolling Stock Corporation Limited: 2008 annual report p.127
  16. ^ "Railway Gazette: Fourth order for largest electric locomotive manufacturer". Retrieved 2010-08-19. 
  17. ^ Reuters news agency
  18. ^ "Dailynews". Railway gets new power sets from China. 2010-04-23. 
  19. ^ Ankara Metrosu 324 vagon alımı ihalesi yapıldı (in Turkish), 5 March 2012 
  20. ^ http://www.politicsweb.co.za/politicsweb/view/politicsweb/en/page72308?oid=334493&sn=Marketingweb+detail&pid=90389

Sources[edit]

  • CSR Prospectus , 8 August 2008, CHINA SOUTH LOCOMOTIVE & ROLLING STOCK CORPORATION LIMITED (A joint stock limited company incorporated in the People’s Republic of China with limited liability), 8 August 2008, www.csrgc.com.cn

External links[edit]