On January 26, the 21st Century Business Herald reporter learned from CSR and CNR, starting this week, the two companies will simultaneously launch a global roadshow to promote the prospects of mergers and acquisitions to multi-local investors. by. In order to create a momentum for the global roadshow, the two sides of the North and South vehicles also announced a huge amount of new contracts on the same day, totaling about 45 billion yuan, higher than the contract amount in the same period of the previous year, including many overseas orders.
A related person from CSR revealed to reporters that there are four or five cities in the world for roadshows, including Hong Kong, Singapore, London and New York. It is reported that the executives of the North and South car companies have flew to the location of the road show, and began a non-stop lobbying. On March 9, shareholders of the two companies will vote on the North-South car merger plan.
Li Wei, deputy director of the Comprehensive Transportation Research Institute of the National Development and Reform Commission, said that the development of the railway coincided with the opportunity. After more than ten years of construction, the total length of China's high-speed rail business has exceeded 16,000 kilometers. This year, the high-speed rail operating mileage will exceed 18,000 kilometers, and the “four vertical and four horizontal” high-speed rail network will be paved. High-speed rail benefits with the network to gather, but also to the track equipment manufacturing enterprises with a steady stream of business opportunities.
Merger "Synergy" Theory After China South Locomotive and China CNR announced the merger plan on December 30 last year, the executives of the two companies were investigated by the China Securities Regulatory Commission for suspected insider trading, and the results have yet to be determined. However, the merger of the two companies was not affected by this, and it was still step by step.
Internal news from the North and South cars revealed that both executives are now starting a global roadshow outside the country, and want to introduce the prospects of mergers to global investors.
According to the views of both sides, the rapid development of China's rail transit has already provided a good foundation. In the future, the main line will be the development of the three-network integration of the main railway, the intercity railway network and the urban rail transit system. A complete rail transit network within the scope will bring new opportunities for the growth of the entire rail transit equipment market.
The 21st Century Business Herald reporter learned from the China Railway Corporation that China's urban rail transit construction has entered a peak period, and the urban rail metro equipment market is also facing a broad space for development.
As of the end of 2014, China's high-speed rail operating mileage has reached 16,000 kilometers, and by the end of this year, it will increase by more than 18,000 kilometers. According to the national trunk railway network plan, the high-speed railway will continue to maintain rapid growth. As for the intercity railway network, as of the end of 2014, the total length of intercity railways planned by various urban agglomerations exceeded 20,000 kilometers, of which the estimated completion mileage in 2016-2020 is expected to reach 12,000 kilometers, bringing a huge market for intercity railway dedicated EMUs. Demand increase. As for the urban rail transit system, as of the end of 2014, construction plans for 37 cities across the country were approved.
The merger plan indicates that because the market prospects are optimistic, the two companies will merge and reorganize, which can enhance the scale of the new company's business, enhance profitability, and build a large-scale comprehensive industrial group with rail transit equipment as the core, multinational operation and global leading. , thereby enhancing the interests of all shareholders. The two sides of the North and South will promote the realization of the strategic objectives mainly from the following aspects of “improving internationalization, enhancing synergy and expanding diversification”.
Li Wei believes that the merged China CRRC Co., Ltd. can unify overseas investment, integrate overseas sales teams, formulate a unified overseas market expansion strategy, and concentrate on participating in international competition. The unified brand image is more favorable to the competition.
In addition, he also believes that the merger can make the North-South car fully play synergies in the fields of R&D, production, procurement, sales, etc., realize rational allocation of resources, avoid duplication of investment and repeated waste, and help the two sides improve their profitability and risk resistance.
According to insiders of both sides of the North and South, the global roadshow will mainly arrange interaction with foreign investors in an effort to eliminate investors' concerns and enhance their confidence in the merged China CRRC. For domestic investors, the domestic roadshow is currently not scheduled.
The reporter noticed that after the merger plan between the two sides of the North and South vehicles was disclosed, the two sides of the North and South vehicles reacted differently to the Hong Kong market. The mainland stock price went up. On January 26, the prices of CSR and CNR closed at 13.97 yuan and 14.28 yuan respectively. It rose more than 140% and 90% before the suspension at the end of October last year. The Hong Kong stock market reaction is not big. As of January 26, CSR and CNR's share price were 9.96 Hong Kong dollars and 10.44 Hong Kong dollars respectively, up only 26% and 36%, indicating that investors have many doubts about the trading prospects of both parties.
In order to dispel investors' concerns and create a good atmosphere for global roadshows, both sides of the North and South have thrown higher contract amounts in previous years than in previous years.
China South Locomotive's announcement on January 26 showed that the company recently signed several major contracts with a total amount of approximately 21.11 billion yuan, accounting for 21.6% of 2013 operating income. The company's EMU sales contract from China Railway Corporation was about 5.83 billion yuan, and it supplied a total of 3.02 billion yuan of locomotives to the relevant railway bureaus of China Railway. China South Locomotive also signed a sales contract of 7.99 billion yuan for subway vehicles with four metro companies in Guangzhou, Shanghai, Tianjin and Foshan.
The announcement of CNR on January 26 showed that the company had signed several major contracts in recent days, with a total amount of approximately 24.258 billion yuan, accounting for 24.95% of the 2013 annual operating income.
These contracts are mainly various types of high-speed EMU sales contracts and EMU maintenance contracts signed by various subsidiaries of CNR and China Railway Corporation. The sales contract of EMUs of Changke shares is about 4.334 billion yuan. Tangshan Railway Co., Ltd. The responsible company's EMU sales contract was 2.983 billion yuan, and the company also signed an EMU senior maintenance contract with the railway bureaus of the China Railway Group, with a total amount of 2.743 billion yuan.
It is worth noting that China North Car's overseas orders are eye-catching, and it has signed railway and motor train contracts with several countries. The company's wholly-owned subsidiary, North Vehicle Import and Export Co., Ltd., signed an export contract for the internal combustion EMU with the relevant departments of the Ghana National Railway, with a total amount of approximately RMB69 million. It signed the supply of spare parts for the internal combustion EMU with the Ministry of Internal Affairs and Transport of Argentina. The total amount of the contract is approximately RMB 50 million. The company's controlling subsidiary, North American (USA) Co., Ltd. and the Massachusetts Gulf Transportation Authority (MBTA) signed a contract for the export of the Boston Red Orange Line subway project, with a total amount of approximately RMB 4.118 billion.
In the first year of the year, there was a contract worth 45 billion yuan to open the bag, which opened a good beginning for the performance of the North-South car in 2015. It will undoubtedly increase the confidence of the North and South car executives in “telling stories” overseas. It is reported that at the extraordinary shareholders meeting of the North and South vehicles on March 9th, the implementation of the merger plan will formally accept the voting of many shareholders.

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