China Railway Group Limited

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Matthew hk (talk | contribs) at 08:05, 3 November 2016. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Not to be confused with China Railway Construction Corporation Limited, another railway infrastructure enterprise in China.
Not to be confused with China Railway, the national railway operator in China.
China Railway Group Limited
CREC
Company typePublic
SEHK: 390
SSE: 601390
IndustryConstruction
Founded2007
Headquarters
Beijing
,
China
Area served
Worldwide
Key people
Chairman: Li Changjin
ProductsRailways, Highways, Installation, Design, Survey, Manufacturing, Real Estate, Resources, Investments
RevenueIncrease US$ 105.93 billion (2015)
Total assetsIncrease US$ 110.10 billion (2015)[1]
OwnerChina Railway Engineering Corporation
Abu Dhabi Investment Authority (0.1%)[2]
Websitewww.crec.cn
China Railway Group Limited
Simplified Chinese中国中铁股份有限公司
Traditional Chinese中國中鐵股份有限公司
Literal meaningChina Railway Group Joint-Stock Limited Company

China Railway Group Limited known as CREC (the acronym of it predecessor and parent company China Railway Engineering Corporation) is a Chinese construction company which floats in Shanghai and Hong Kong Stock Exchange. The major shareholders of the company is the state owned China Railway Engineering Corporation (CRECG).

By revenue, CREC is the largest construction company in the world in the 2015 Engineering News-Record "Top 225 Global Contractors".[3] In 2016, CRECG ranks in the 57st place among Fortune Global 500 Enterprises[4] and the 7th place among Top 500 Chinese Enterprises.

Business areas

CREC holds a large share of the Chinese construction market and participates in many large-scale infrastructure projects overseas (especially in countries in the Southeast Asia and Africa). In addition to the core business of construction, the company does business in surveying and designing, installation, manufacturing, R&D, technical consulting, capital management as well as international economic and trade activities.

History

In November 2007, CREC announced that it would be listing A shares and H shares on the Shanghai and Hong Kong respectively. The IPO price of A share ranged from 4 to 4.8 Chinese yuan while that of H share ranged from 5.03 to 5.78 Hong Kong dollar. CREC joined the Hang Seng China Enterprises Index from 10 March 2008.[5]

In support of a cross country railway building boom in Venezuela, CREC began construction in 2009 of the Anaco-Tinaco railroad, an 800 million USD project to building a 471 km high speed railway line through the agriculture belt.[6]

This company appeared to break new ground in the European Union in 2009 when the COVEC subsidiary along with two Chinese partners were awarded the tender to construct two parts of the A2 highway in Poland.[7] The project began well in the design and preparation stages with COVEC demonstrating "technical acumen" but work ran aground at later stages because of mismanagement within a tight regulatory framework, ending in failure for COVEC and replacement by other contractors.[8]

Subsidiaries

As of 31 December 2014[2]
CREC received former no.1 to 10 bureau of Ministry of Railways, which became
CREC also had the following subsidiaries
former design bureau
non-wholly owned subsidiaries that have material non-controlling interests

References

  1. ^ http://www.forbes.com/global2000/list/6/#header:assets_sortreverse:true
  2. ^ a b English Translation of 2014 Annual Filing to Hong Kong Stock Exchange]
  3. ^ "The Top 225 Global Contractors". Engineering News-Record.
  4. ^ "Global 500". Fortune.
  5. ^ CREC joined Hang Seng China Enterprises Index
  6. ^ Kroth, Olivia (October 9, 2012). "President Chávez continues Venezuela's railway development". Pravda.
  7. ^ Broomby, Rob (16 September 2009). "China's controversial Polish contract". BBC News.
  8. ^ "European Project Trips China Builder". Wall Street Journal. June 4, 2012.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=China_Railway_Group_Limited&oldid=747598627"