Ge Long Hui·2025-10-30 14:12Core Viewpoint - China CNR Corporation Limited (01766.HK) announced a strategic acquisition to enhance its high-end intelligent equipment manufacturing base in Beijing and expand its presence in the urban rail transit market [1] Group 1: Acquisition Details - Changchun Railway Vehicles Co., Ltd. (a non-wholly owned subsidiary of the company) entered into a share transfer agreement with the No. 2 Locomotive and Rolling Stock Works, agreeing to acquire 100% equity of Beijing CRRC Equipment Technology Co., Ltd. for RMB 186 million [1] - Following the completion of this transaction, the No. 2 Locomotive and Rolling Stock Works will no longer hold any equity in the Equipment Technology Company, which will become a wholly-owned subsidiary of Changchun Railway Vehicles [1] Group 2: Financial Support and Implications - Prior to the transaction, CRRC Group provided financial assistance to the Equipment Technology Company amounting to RMB 2.533 billion, with an annual interest rate of 2.4% to 2.6%, depending on the actual loan term [1] - The financial assistance is to be repaid through capital increases or loans by Changchun Railway Vehicles after the acquisition, and will be classified as related party financial assistance [1]