The merge between CSR and CNR completes H-share and A-share swap registration on May 26 and May 28 respectively. The merged company is renamed as CRRC Corporation Limited (“CRRC”) and completes its registration at Industrial and Commercial Administration on June 1. Jingtian & Gongcheng is the PRC legal counsel of CNR and legal counsel of anti-monopoly examination for domestic concentration of undertakings.

The registered capital of CRRC is 27,288,758,333, and total share count is 27,288,758,333. It inherits all assets, liabilities, people, contracts, qualifications, and other rights and obligations of CSR and CNR. CRRC adopts new company name and organization code, stock abbreviation, legal corporate governance, strategic positioning, organization structure, management system, company brand, so as to achieve the merge as equals.

The merge between CSR and CNR will not only accelerate the transition of China’s rail transportation equipment industry from “made in China” to “created in China”, but also promote the industrial upgrade of China’s high-end equipment industry, and bring along the development of information industry, electronics industry, material industry, so as to uplift China from a “big manufacturing country” to a “manufacturing powerhouse”.