CREC Industry

China Railway High-tech Industrial Co., Ltd. (abbreviated as "CREC Industry") is an A-share listed company (SH.600528) under China Railway Group Limited. Its business scope covers the R&D, design, manufacturing, technical services, and project investment of tunnel boring equipment, railway switches, steel bridges, railway construction machinery, bridge construction machinery, new-type rail transit vehicles, and high-end environmental protection equipment. Its main business market share and comprehensive strength rank among the top in the world, with products exported to 53 countries and regions. In order to thoroughly implement the Party Central Committee and the State Council's strategy of deepening state-owned enterprise reform, practice General Secretary Xi Jinping's important instructions of "Three Transformations," and promote industrial aggregation and transformation and upgrading, China Railway reorganized and integrated its subsidiaries China Railway Shanhaiguan Bridge Group, China Railway Baoji Bridge Group, China Railway Science and Industry, and China Railway Equipment, and established CREC Industry through asset swaps with China Railway No.2 Engineering Group. It was renamed and listed on the Shanghai Stock Exchange in March 2017. As a technological innovation enterprise specializing in the R&D, manufacturing, and comprehensive services of tunnel boring equipment, the company has formed a complete industrial system and product categories for boring machines, having developed a full series of shield/TBM products adaptable to different cross-sections and ground conditions (earth pressure, slurry, hard rock, etc.), as well as specialized tunnel mechanization equipment such as drilling jumbos, roadheader boom miners, and concrete wet spray machines, providing customers with diversified, complete, and intelligent equipment and comprehensive services. The company has undertaken 5 projects under the 863 Program and 2 projects/topics under the 973 Program, and has developed a series of innovative products with independent intellectual property rights, including the world's largest rectangular shield machine, the world's first horseshoe-shaped shield machine, the world's largest-diameter hard rock TBM, and the world's smallest-diameter TBM. The company's tunnel boring equipment has been sold to 29 countries and regions including France, Italy, Denmark, and Austria, maintaining the top domestic market share for ten consecutive years and the world's leading production and sales volume for five consecutive years. The company is the earliest and the world's largest frog (switch) manufacturing enterprise. Its conventional-speed, high-speed, and heavy-haul switches hold a domestic market share of over 60%, having provided high-quality, high-tech switch products for projects such as the Beijing-Shanghai Railway, Harbin-Dalian Passenger Dedicated Line, Beijing-Shijiazhuang Passenger Dedicated Line, and Lanzhou-Chongqing Railway, and having participated in all major railway speed-up campaigns in China, being the "leader" in China's switch technology innovation. It has successfully overcome key technologies for medium- and low-speed and high-speed maglev switches, and the 600 km/h maglev switch has been installed on site, making outstanding contributions to the development of China's railway transportation. The company is a leading enterprise in the manufacturing and installation of steel bridges in China. As early as 1894, its subsidiary China Railway Shanhaiguan Bridge Group built China's first railway steel bridge – the Luanhe Bridge on the Beijing-Fengtian Railway, pioneering the history of China's self-built steel structure bridges. The company has manufactured over 5,000 steel bridges, participating in the construction of numerous extra-long and extra-large bridges such as the Wuhan Yangtze River Bridge, Nanjing Yangtze River Bridge, Hong Kong-Zhuhai-Macao Bridge, and the Padma Bridge in Bangladesh, achieving remarkable milestones of crossing the Yangtze River 70 times, the Yellow River 40 times, and sea bays 33 times, with a domestic market share exceeding 60%. The company produces over 1.2 million tons of steel bridges and steel structures annually, pioneering factory-based, automated, and informationized production of large steel bridges in China, with technologies for automated manufacturing and factory-based complete systems for large-span heavy steel bridge structures reaching the world's advanced level, making it a driver of China's successful transformation from a "bridge giant" to a "bridge powerhouse." The company is a leading enterprise in China for railway construction equipment used in erecting, transporting, lifting, and laying tracks. Its railway track-laying machines and bridge erectors have completed over 90% of the track laying and box girder erection on national railways, and its independently developed 1,800-ton transport and erection equipment, as well as complete sets of trackless track construction and laying equipment, have reached the "world's advanced level," providing strong equipment support for the smooth implementation of domestic passenger dedicated lines and high-speed railway projects. In the field of new-type rail transit, the company has completed comprehensive R&D for vehicles such as straddle-type monorails, maglev, suspended monorails, and low-floor trams, achieving major breakthroughs in dynamic and static tests, and the new industry has broken through and achieved implementation. In the field of underground space development, the company, leveraging its advantages in boring equipment and innovative construction methods, has cultivated unique skills represented by the CC method and built the country's first prefabricated underground parking garage demonstration project, which is of pioneering significance for the development of underground parking garages, underground utility tunnels, and underground expressways. In the field of environmental protection, the company has developed new technologies and equipment such as "complete technical equipment for rapid treatment of tunnel construction sewage," mastering over 30 core technologies and successfully winning bids for multiple projects, with initial results in the layout of the environmental protection industry. On May 10, 2014, General Secretary Xi Jinping inspected China Railway Equipment, a member enterprise of the company, and made important instructions to "promote the transformation from Made in China to Created in China, from Chinese speed to Chinese quality, and from Chinese products to Chinese brands," pointing out a new direction for China's industrial development. CREC Industry conscientiously implements the important instructions of the "Three Transformations," always adhering to the development positioning of "integration of the three businesses" (industrial manufacturer, engineering service provider, and industrial investor) and the business philosophy of "manufacturing as the foundation," expanding the upstream and downstream of the industrial chain, actively promoting the deep integration of high-end manufacturing with engineering services and information technology, striving to drive corporate transformation in power, efficiency, and quality, and endeavoring to create more quality products and services for customers, create greater value for shareholders, and make greater contributions to promoting the "Belt and Road" initiative and achieving the strategic goal of building a strong transportation country!