CRRC Corporation (601766.SH) plans to spin off its subsidiary, CRRC Qishuyi, for a listing on the ChiNext board.

CRRC Corporation (601766.SH) announced that the company plans to spin off its subsidiary, CRRC Qishuyan Locomotive Co., Ltd. (referred to as "CRRC Qishuyan"), and list it on the Shenzhen Stock Exchange ChiNext board. This spin-off will not affect the ownership structure of CRRC Corporation, and after the spin-off is completed, CRRC Corporation will still be the controlling shareholder of CRRC Qishuyan. Through this spin-off listing, CRRC Corporation will further focus on its core businesses, including railway equipment, urban rail and city infrastructure, ShenZhen New Industries Biomedical Engineering, and modern services, accelerating the transformation into a provider of "manufacturing + services" and system solutions. By creating CRRC Qishuyan as an independent listed platform focusing on high-end equipment, key components, and system solutions, it will help CRRC Qishuyan concentrate on its core businesses, enhance operational expertise, and leverage the capital market to increase investment and development in industrial transmission and metal material processes, strengthening its comprehensive competitiveness in the professional field and supporting its sustained high-quality development.