CSR Corporation Limited

China South Locomotive and Rolling Stock Corporation
中国南车股份有限公司

Type	Joint stock limited liability company
Industry	Locomotive and rolling stock manufacturing
Predecessor	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
Owner(s)	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) (SEHK: 1766, 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

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]

Company structure and subsidiaries

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

Manufacturing and maintenance

• CSR Chengdu Locomotive & Rolling Stock Co., Ltd., refurbishment of locomotives and carriages, manufacture and repair of motors.^[10]
• CSR Feb. 7th Rolling Stock Co., Ltd., manufacture and maintenance of freight wagons.^[10]
• CSR Luoyang Locomotive Co., Ltd., refurbishment of locomotives.^[10]
• CSR Meishan Rolling Stock Co., Ltd., manufacture of freight wagons, brakes and castings.^[10]
• CSR Nanjing Puzhen Rolling Stock Co. Ltd., manufacture of carriages, multiple units and rapid transit vehicles.^[10]
• CSR Qishuyan Locomotive Co., Ltd., manufacture and maintenance of diesel locomotives^[10]
• CSR Shijiazhuang Rolling Stock Co., Ltd., maintenance of freight wagons, R&D of air-conditioning and refrigeration devices.^[10]
  • Shijiazhuang Guoxiang Transportation Equipment Co., Ltd., 60% owned subsidiary, joint enterprise with King Machinery (Taiwan) Co., Limited.
• CSR Sifang Locomotive & Rolling Stock Co., Ltd., Manufacture of carriages and multiple units, and auxiliary products. EMU and carriage maintenance.^[10] Renamed CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd, (CSR Sifang Co., Ltd.) on 29 December 2008.^[11]
• CSR Sifang Rolling Stock Co., Ltd., maintenance and manufacture of carriages and multiple units.^[10]
• CSR Yangtze Rolling Stock Co., Ltd.,^{[note 2]} freight and refrigerated wagon manufacturing and maintenance, carriage and rapid transit vehicle maintenance, manufacture of axles, casting and other steel structures^[10]
• CSR Zhuzhou Electric Locomotive Co., Ltd., R&D and manufacture of electric locomotives, multiple units and rapid transit vehicles, and electric motors, transformers and related products.^[10]
• Zhuzhou CSR Times Electric Co., Ltd., development and sale of traction and auxiliary electrical power equipment and urban rail control system.^[10]
• CSR Ziyang Locomotive Co., Ltd., R&D and manufacturing of diesel and electric locomotives, and diesel and gas powered engines and sub-components.^[10]
• CSR Xiangfan Locomotive Co., Ltd., refurbishment of locomotives.^[10]

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.^[10]
• CSR Qishuyan Locomotive & Rolling Stock Technology Research Institute Co., Ltd., R&D of mechanical transmissions, brakes, shock absorbers and manufacturing techniques.^[10]

Export and leasing

• New Leap Transportation Equipment Investment & Leasing Co., Ltd., investment in, leasing, sale, and technical support of rail vehicles.^[10] (Renamed CSR Investment and Leasing on 2 December 2008)^[11]

Other

The company owned ~46% of the shares in "South Huiton", a freight wagon manufacturer, and palm fibre processing company.^[12] CSR (Hong Kong) Co. Ltd. based in Hong Kong was formed as 100% subsidiary in 2008.^[13]

Joint ventures

• Bombardier Sifang (Qingdao) Transportation Ltd., formed 1998, with CSR Sifang, 50% owned by Bombardier Inc., design and manufacture of single and double deck passenger carriages and EMUs^[10]
• Qingdao Sifang Kawasaki Rolling Stock Technology Co., Ltd., formed 2005, 50% owned by Kawasaki Heavy Industries (39%) and ITOCHU Corporation (11%), R&D and technical support for railway vehicles and import and export thereof.^[10]

Manufacturing and products

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

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.^[14]

• Electric trains:
  • High-speed train "China Star"
  • High-speed train "Central China Star"

• Diesel locomotives

CSR SDD8 FCA (Ferrovia Centro-Atlântica) nº9564

• • 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.

Export contracts

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.^[15]

See also

• List of locomotives in China

References

1. ^ China South Locomotive and Rolling Stock Corporation Limited - brief introduction www.csrgc.com
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. ^ ^{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
11. ^ ^{a b} China South Locomotives & Rolling Sotkc Corporation Limited: 2008 annual report p.10
12. ^ CSR Prospectus , 8 August 2008 , "South Huiton", pp.142-144
13. ^ China South Locomotives & Rolling Stock Corporation Limited: 2008 annual report p.127
14. ^ "Railway Gazette: Fourth order for largest electric locomotive manufacturer". http://www.railwaygazette.com/news/single-view/view/10/fourth-order-for-largest-electric-locomotive-manufacturer/browse/2.html. Retrieved 2010-08-19. 
15. ^ Reuters news agency

Sources

• 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

Notes

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

External links

• China South Locomotive and Rolling Stock Corporation Limited