History
In 1986 the China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC) was formed, comprising 35 production sites and 4 research centres. In 2002 LORIC was separated from the Ministry of Railways and China South Locomotive and Rolling Stock Industry (Group) Corporation (CSRG) was formed. Its main competitor, the China North Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2000.
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.
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. The shares also began trading on the Shanghai Stock Exchange in August; $1.57 billion was raised in the share offers. A 40% stake in the company was offered in total on the two exchanges.
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.
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.
On 26 December 2011, CSR announced that it had successfully tested a super high speed train that was capable of traveling at 500 km/h.
Read more about this topic: CSR Corporation Limited
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