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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  CRRC Corporation Limited    601766   CNE100000CP9

CRRC CORPORATION LIMITED

(601766)
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End-of-day quote. End-of-day quote Shanghai Stock Exchange - 03/01
7.1 CNY   +3.50%
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CSR : Got the Metro Order of Navi Mumbai, India

09/23/2014 | 10:24pm EST

   September 10 of the local time, CSR Zhuzhou Electric Locomotive Co., Ltd. obtained the No.1 metro vehicle and related maintenance order valued 300 Million Yuan in Navi Mumbai, India. This is CSR's third Indian metro vehicle order after Bombay No.1 line and New Delhi Gurgaon line orders and also CSR's first Indian metro maintenance order. It successfully copies the metro "4S" shop mode of "manufacture + service" to South Asian mainland. 

    Navi Mumbai is a city administrated by Maharashtra state, India and is located in the west of the state, in the east of Bombay. Its area reaches 343 square km. and has 1.12 million people. It's rebuilt near Bombay and to distinguish it from the original Bombay, it's named Navi Mumbai. To expand Indian railway transit maintenance service market, CSR Zhuzhou Electric Locomotive Co., Ltd. will establish "4S" shops of railway transit locally.

    Metro vehicles of this project adopt the program of 3 carriages, including 2 powered carriage and 1 unpowered carriage with 25 KV pantograph-OCS system supplying power. The max passenger capacity of the whole metro can reach 1,128 and the max operation speed 80 km/h. It's reported that overall 33 km is planned for the No. 1 metro line in Navi Mumbai. There are 3 phases of planning in total. Vehicles signed hereby will be put into operation on the first phase of 11 km. 

    It's reported that the max width of vehicles for the project is 3.16 m, 3 m wider than domestic A metro vehicles. And the vehicle body adopts stainless steel of V-shape section with high anti-corrosion which is high enough to meet the rigid anticorrosion requirements in Navi Mumbai. To adapt to Indian large passenger flow volume, technicians designed bogies and passenger lifting equipment specially, such as bogies with bearing capacity of 17 t, vehicle doors of containing doors with greater closing force and wider opening area, and 4 sets of vehicle doors on each side of vehicles.

    The climate of Navi Mumbai, India belongs to tropical monsoon climate. So the hydrothermal environment with high temperature requires better temperature reduction facility in the inner carriages. To make passengers have comfortable experience, to reduce the cost and conserve energy and protect environment, technicians adopted the air conditioning units with large refrigerating capacity. The air volume and refrigerating volume are able to adjust with the change of passenger capacity to meet energy-efficient requirement. Illuminating system on the vehicles adopts LED illumination lamps and lanterns which are energy saving, environment protective, high lighted, and easy to maintain.

    In addition, designers specially introduced that the industrial design, external styling, internal decoration, and drivers' control interface fully reflect Indian cultural elements and its regional features.

It's known that there have been more than 40 cities in India planning or establishing urban railway transport systems, including Calcutta, Delhi, Bangalore, Gurgaon, Bombay, Hyderabad, etc. According to the planning, in the future, there will be more cities in India developing urban railway transport to relieve people's travel pressure. Therefore, the market is very broad.

    According to Zhang Minyu, the Vice-General Manager of CSR Zhuzhou Electric Locomotive Co., Ltd., in this bidding, CSR Zhuzhou Electric Locomotive Co., Ltd. has cooperated with transnational corporations and given full play to the brand technical services advantages, providing high-end railway transport equipment system solutions with high value-added based on the individualized demands of users, which helped the bidding unit win over many competitors, and thus providing a new mode for CSR Zhuzhou Electric Locomotive Co., Ltd. to expand overseas market.

    Zhou Qinghe, the Chairman and General Manager of CSR Zhuzhou Electric Locomotive Co., Ltd., told journalists that they are able to provide high-quality metro vehicles and services for Indian people again to effectively ease their traffic pressure, which indicates the Indian market trusts Chinese equipment manufacturing quality and services. The railway transport industry is proving the quality of Chinese equipment manufacturing to the world.

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Financials
Sales 2020 223 B 34 449 M 34 449 M
Net income 2020 11 216 M 1 735 M 1 735 M
Net cash 2020 25 595 M 3 959 M 3 959 M
P/E ratio 2020 18,4x
Yield 2020 1,93%
Capitalization 218 B 33 649 M 33 655 M
EV / Sales 2020 0,86x
EV / Sales 2021 0,77x
Nbr of Employees 165 715
Free-Float 48,1%
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Number of Analysts 12
Average target price 6,96 CNY
Last Close Price 7,10 CNY
Spread / Highest target 40,8%
Spread / Average Target -2,02%
Spread / Lowest Target -43,7%
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Managers and Directors
NameTitle
Yong Cai Sun President, General Manager & Executive Director
Zheng Li Chief Financial Officer & Chief Accountant
Hua Long Liu Chairman
Hu Zhao Chairman-Supervisory Board
Patrick Sun Independent Non-Executive Director