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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  CRRC Corporation Limited    601766   CNE100000CP9

CRRC CORPORATION LIMITED

(601766)
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CRRC : China sets up $21 billion fund to upgrade manufacturing - Shanghai Securities News

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11/19/2019 | 09:21pm EST
Employees work at a manufacturing plant of Sany Heavy Industry Co. in Changsha

China has set up a $21 billion national investment fund to promote the transformation and upgrading of the country's manufacturing industry, the official Shanghai Securities News reported on Wednesday.

The fund, with a registered capital of 147.2 billion yuan ($21 billion), will invest in both growth-stage and mature companies in areas such as new materials, next-generation information technology (IT) and power equipment, the newspaper said.

The new fund will invest throughout the entire manufacturing industry value chain, the article said, citing Zhang Yuzhe, a researcher at the National Development and Reform Commission (NDRC).

The fund was set up by 20 stockholders, with the Ministry of Finance holding a 15.29 percent stake as the biggest shareholder, according to a separate report by the official Xinhua News Agency.

CRRC Corp, China's state-owned railway equipment maker, said in a statement on Monday that it plans to invest an initial 25 million yuan in the fund.

China has previously set up national funds that invest in the country's advanced manufacturing and integrated circuit sectors.

(Reporting by Samuel Shen and John Ruwitch; editing by Richard Pullin)

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Financials (CNY)
Sales 2019 227 B
EBIT 2019 16 827 M
Net income 2019 12 694 M
Finance 2019 13 667 M
Yield 2019 2,22%
P/E ratio 2019 15,8x
P/E ratio 2020 13,9x
EV / Sales2019 0,77x
EV / Sales2020 0,66x
Capitalization 189 B
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 8,67  CNY
Last Close Price 6,95  CNY
Spread / Highest target 54,0%
Spread / Average Target 24,7%
Spread / Lowest Target -22,7%
EPS Revisions
Managers
NameTitle
Yong Cai Sun President, General Manager & Executive Director
Hua Long Liu Chairman
Hu Zhao Chairman-Supervisory Board
Zheng Li Chief Financial Officer & Chief Accountant
Patrick Sun Independent Non-Executive Director