Shang Hai Zheng Quan Bao·2025-11-27 18:20Group 1 - China CRRC plans to spin off its subsidiary CRRC Qishuyan Locomotive Research Institute for listing on the Shenzhen Stock Exchange's Growth Enterprise Market, marking a resurgence of "A-share spin-offs" in the A-share market since 2025, with nearly 30 companies pursuing similar plans [1][6] - The spin-off will not affect the equity structure of China CRRC, which will maintain control over CRRC Qishuyan [1][3] - The company aims to achieve business focus through this spin-off, concentrating on its core sectors such as railway equipment, urban rail and infrastructure, new industries, and modern services [2][3] Group 2 - CRRC Qishuyan, established in 1992, specializes in high-end equipment key components and system solutions, with products covering rail transit equipment, energy and engineering equipment, automotive parts, and intelligent manufacturing [4] - The unaudited financial data for CRRC Qishuyan indicates a projected net profit of 308 million yuan for 2024 [4] - The spin-off is expected to enhance CRRC Qishuyan's capital strength and business development capabilities, thereby improving its market competitiveness and overall profitability [3][4] Group 3 - The trend of spin-off listings is gaining momentum, with companies like Zhejiang Pharmaceutical and China Unicom also planning to spin off subsidiaries for independent listings to enhance their financing channels and overall competitiveness [6] - The "A-share spin-off" model is becoming a significant strategy for companies to expand their capital footprint and enhance the international influence of their subsidiaries [6][7]