CSR Corporation Limited

CSR Corporation Limited
Company type	Public (formerly)
Industry	Locomotive and rolling stock manufacturing
Founded	2007
Defunct	June 1, 2015
Fate	Merged with China CNR to form CRRC
Headquarters	China
Area served	Worldwide
Products	Locomotives, rolling stock, electric multiple units, diesel multiple units, subway trains
Parent	CSR Group (before merger)

CSR Corporation Limited (CSR), previously known as China South Locomotive & Rolling Stock Corp, was a key Chinese producer specializing in locomotives and rolling stock.

In 2015, CSR combined with China CNR to establish CRRC.

History

Founded in 2007 under the name China South Locomotive & Rolling Stock Corporation Limited, CSR was created as a vehicle for the potential public listing of significant assets from the state-owned CSR Group. Certain ancillary assets were retained within the group and not included in the listing.

CSR's H shares were first offered on the Hong Kong Stock Exchange on 21 August 2008, shortly after the A shares were launched on the Shanghai Stock Exchange on 18 August 2008. The initial public offering generated around $1.57 billion, with 40% of the company’s equity distributed across both markets.

On 26 December 2011, CSR announced it had successfully tested a super high-speed train reaching speeds of 500 km/h.

In February 2014, CSR broadened its international footprint by acquiring Argentine rolling stock manufacturer Emprendimientos Ferroviarios, strengthening its operations in Latin America.

Merger

Towards the end of 2014, CSR and its competitor CNR revealed plans for a share swap merger on a one-to-one basis, resulting in a new entity valued at roughly $26 billion, named CRRC. This merger was completed on 1 June 2015.

Company structure and subsidiaries

Following the restructuring in 2008, CSR managed 20 subsidiaries engaged in manufacturing, maintenance, research, export, leasing, and related services:

Manufacturing and Maintenance

CSR Chengdu Locomotive & Rolling Stock Co – specializes in locomotive and carriage refurbishment as well as motor production and repair.
CSR Feb. 7th Rolling Stock Co., Ltd. – focuses on manufacturing and maintaining freight wagons.
CSR Luoyang Locomotive Co – dedicated to locomotive refurbishment.
CSR Meishan Rolling Stock Co., Ltd. – produces freight wagons, braking systems, and castings.
CRRC Nanjing Puzhen – manufactures carriages, multiple units, and rapid transit vehicles.
CRRC Qishuyan – engaged in diesel locomotive production and upkeep.
CSR Shijiazhuang Rolling Stock Co – maintains freight wagons and conducts R&D in air-conditioning and refrigeration technologies.
- Shijiazhuang Guoxiang Transportation Equipment Co., Ltd. (60% ownership), a joint venture with King Machinery (Taiwan).
CSR Sifang Locomotive & Rolling Stock Co., Ltd. – produces carriages and multiple units; provides EMU maintenance; renamed CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd. in 2008.
CSR Sifang Rolling Stock Co., Ltd. – involved in carriage and multiple unit manufacturing and maintenance.
CSR Yangtze Rolling Stock Co., Ltd. – manufactures freight and refrigerated wagons; maintains carriages and rapid transit vehicles; produces axles, castings, and steel structures.
CSR Zhuzhou Electric Locomotive Co – conducts R&D and production of electric locomotives, multiple units, rapid transit vehicles, electric motors, and transformers.
Zhuzhou CSR Times Electric Co – develops and markets traction and auxiliary electrical power equipment as well as urban rail control systems.
CSR Ziyang Locomotive Co – focuses on R&D and manufacture of diesel/electric locomotives along with diesel/gas engines and related components.
CSR Xiangfan Locomotive Co., Ltd. – specializes in locomotive refurbishment.
Emprendimientos Ferroviarios – Argentine subsidiary.

Research

CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. – engaged in R&D for electric propulsion/control systems, suspension technology, noise reduction methods, and polymer composite materials.
CSR Qishuyan Locomotive & Rolling Stock Technology Research Institute Co., Ltd. – focuses on mechanical transmission systems, braking technology, and shock absorber development.

Export and Leasing

New Leap Transportation Equipment Investment & Leasing Co., Ltd. (renamed CSR Investment and Leasing in 2008) – involved in leasing investments, sales operations, and technical support for rail vehicles.

Other

CSR (Hong Kong) Co. Ltd. – fully owned subsidiary established in Hong Kong during 2008.

Joint ventures

Bombardier Sifang (Qingdao) Transportation Ltd, established in 1998 as a partnership with CSR Sifang and equally owned by Bombardier Transportation, specializes in the design and production of both single and double-deck passenger coaches and EMUs.
Qingdao Sifang Kawasaki Rolling Stock Technology Co., Ltd., created in 2005, is jointly owned with Kawasaki Heavy Industries holding 39% and Itochu 11%. This entity focuses on research and development, technical services for railway vehicles, along with import and export operations.

Manufacturing and products

The primary manufacturing plants for locomotives are situated in Zhuzhou (electric locomotives), and in Ziyang, Luoyang, and Xiangfan (diesel locomotives). Additionally, carriage assembly takes place at Qishuyan and Chengdu. Production of passenger carriages is distributed across facilities in Nanjing, Zhuzhou, Beijing, Meishan, Wuchang, Tongling, Shijiazhuang, Wuhan, and Guiyang. The company maintains two dedicated research institutes located in Zhuzhou and Qishuyan.

Models

Key locomotive and train models include:

Electric locomotives:
- TM1 series
- KZ4A high-speed type
- DJ2 "Olympic star" model
- SS series encompassing SS3, SS4, SS6, SS8, SS9 and their variants
- AC4000 prototype platform
- HXD1 "Harmony" type: Over 1,700 units ordered with an annual production capacity scaled up to 800 units.

EMUs:
- High-speed trains known as "China Star" and "Central China Star"

Diesel locomotives:
- Diesel models built by Qishuyan for Guinea
- DF4B/C/D series variants, DF5B, DF8B types
- DF11/DF11G models designed for passenger service
- DF12 shunting locomotive
- Diesel-hydraulic models DFH 3 and DFH 5
- Yard shunters from the GK & GKD series available in multiple track gauges

DMUs:
- DDJ1 model

The company also produces subway rolling stock servicing urban transit systems such as the Shanghai Metro and Beijing Subway.

Exports

In 2008, China Southern Locomotive secured a contract worth nearly $100 million from Kazakhstan, marking its third deal since entering that market in 2002.
CSR has delivered diesel multiple units to Sri Lanka Railways, initially supplying short-distance DMUs in 2008 before expanding to long-distance units by 2011.
A $391 million contract was awarded to CSR by Turkey to manufacture 324 vehicles for the Ankara Metro, with domestic content requirements ranging from 30% to 51%.
In October 2012, CSR Zhuzhou Electric Locomotive Works won a tender to supply 95 electric locomotives to South Africa as part of a R4 trillion (US$462 billion) infrastructure initiative.
In 2013, Argentina’s state-owned Trenes Argentinos procured CSR electric multiple units for metropolitan services around Buenos Aires: 300 cars allocated to the Roca Line and 709 cars distributed between the Sarmiento and Mitre lines.
CSR provided rolling stock for the Baghdad–Basra high-speed rail line.
A joint venture between CSR and Australia's United Group produced 21 Phase IV light rail vehicles delivered to Hong Kong's MTR system in 2009.

Controversy

In June 2016, allegations surfaced involving CSR and members of the Gupta family attempting to improperly influence the awarding of a R51 billion (US$6 billion) contract from 2012 for CSR to supply 600 trains to South Africa’s Passenger Rail Agency. Subsequent reports implicated future South African Public Protector Busisiwe Mkhwebane in connection with this deal during her tenure at South Africa’s embassy in China.

Notes

External links

Archived official website (captured on 15 February 2015)