China Railway Construction Corporation Limited (CRCC) is one of the largest integrated construction groups globally, operating in over 148 countries and regions. Established on November 5, 2007, in Beijing by China Railway Construction Corporation, CRCC is a state-owned enterprise under the administration of the State-owned Assets Supervision and Administration Commission (SASAC).
1. Company Profile
CRCC was listed on both the Shanghai Stock Exchange (A shares) and the Hong Kong Stock Exchange (H shares) on March 10 and March 13, 2008, respectively. In 2024, CRCC ranked 43rd on the Fortune Global 500 list, continuing its 19-year streak.
The company operates across a wide value chain, including construction, planning, design, consultancy, investment operation, real estate development, equipment manufacturing, materials and logistics, environmental protection, industrial finance, and emerging industries. With a robust industrial framework spanning scientific research, survey, design, construction, management, operation, and financing, CRCC offers fully integrated infrastructure solutions.
CRCC’s headquarters is located at East, No. 40 Fuxing Road, Haidian District, Beijing, with a secondary office in Hong Kong (23/F, Railway Plaza, 39 Chatham Road South, Tsim Sha Tsui, Kowloon).
2. Business Segments and Revenue Breakdown
i. Construction Operation
- Revenue: RMB 931.25 billion
- Cost of Sales: RMB 849.79 billion
- Gross Margin: 8.75% This is CRCC’s core segment, covering railways, highways, urban rail, water conservancy, hydropower, bridges, tunnels, housing, municipal, airports, and ports.
ii. Planning, Design and Consultancy
- Revenue: RMB 18.02 billion
- Cost of Sales: RMB 10.46 billion
- Gross Margin: 41.96% Handled by 4 Grade II and 24 Grade III design institutes, this segment caters to infrastructure design across railways, metro, magnetic levitation, utility tunnels, and more.
iii. Manufacturing
- Revenue: RMB 23.39 billion
- Cost of Sales: RMB 18.17 billion
- Gross Margin: 22.35% Includes production of heavy equipment like shield machines, rail components, electric contact wires, bridge structures, and more.
iv. Real Estate Development
- Revenue: RMB 71.89 billion
- Cost of Sales: RMB 64.04 billion
- Gross Margin: 10.92% Focuses on housing developments in major cities like Beijing, Shanghai, Xi’an, Hangzhou, and others.
v. Materials and Logistics
- Revenue: RMB 86.86 billion
- Cost of Sales: RMB 78.90 billion
- Gross Margin: 9.17% Supports internal procurement and offers external logistics services through 1.33 million sq. m. of warehousing and over 40 km of dedicated railway lines.
3. Products & Services Offered
CRCC’s offerings span a variety of industries:
- Infrastructure Construction: Railways, highways, metro systems, tunnels, bridges, airports
- Planning & Design: Civil, municipal, and transport engineering
- Consulting: Environmental, energy, utility tunnel, underground space
- Manufacturing: Shield machines, bridge steel, turnout systems, power systems
- Real Estate: Residential, public housing, and buyback housing
- Environmental Services: Soil remediation, water treatment, carbon-neutral projects
- Finance: Leasing, insurance brokerage, factoring, fintech
- Logistics: Supply chain and warehouse services
4. Company History
- 2007: Founded as a joint-stock company
- 2008: Dual listing on SSE and HKEX
- 2010+: Expansion across 148 countries, establishing itself as a global contractor
- 2024: 43rd on the Fortune Global 500 list; massive investment in innovation and strategic emerging industries
5. Brands and Brand Revenue
CRCC brands represent different industrial capacities:
- CRCHI (Heavy Industry): Tunnel boring machines, rail components
- CRCC Real Estate: Residential development brand
- CRCC High-End Equipment: Advanced machinery, large-scale production lines
- Digital CRCC: Smart infrastructure and AI-driven services
[Further breakdowns of revenue per brand to be expanded based on internal segment disclosures.]
6. Geographic Presence and Revenue
- Domestic Revenue: RMB 1,001.27 billion
- Overseas Revenue: RMB 65.90 billion
- Domestic Gross Margin: 10.45%
- Overseas Gross Margin: 7.49%
International operations include:
- UAE: Delivered the tallest hotel project
- Serbia, Nigeria, Mexico: Renewable energy projects
- Guinea: Infrastructure + distributed photovoltaics model
7. Financial Statements (Consolidated Tables)
Consolidated Profit and Loss (in RMB ‘000)
| Item | 2024 | 2023 |
|---|---|---|
| Revenue | 1,067,171,337 | 1,137,993,486 |
| Cost of Sales | 957,601,788 | 1,019,749,051 |
| Net Profit | 27,078,400 | 32,474,700 |
Consolidated Balance Sheet (in RMB ‘000)
| Item | 2024 | 2023 |
| Total Assets | 1,862,842,522 | 1,663,019,578 |
| Net Assets | 328,251,080 | 309,837,517 |
Cash Flow Statement (in RMB ‘000)
| Item | 2024 | 2023 |
| Net Operating Cash Flow | -31,423,832 | 20,412,048 |
| Net Investing Cash Flow | -48,039,536 | -55,909,151 |
| Net Financing Cash Flow | 94,758,261 | 44,591,505 |
8. Subsidiaries, Wholly-Owned Subsidiaries & Associates
CRCC has a vast network of subsidiaries and associates across construction, finance, manufacturing, logistics, and technology. Some key names include:
Wholly-Owned & Major Subsidiaries
- China Railway Construction Heavy Industry Corporation Limited (CRCHI) – Specializes in tunneling equipment and machinery manufacturing.
- CRCC High-Tech Equipment Corporation Limited – Develops large-scale railway and construction machinery.
- CRCC International Limited – Oversees overseas construction contracts and global investments.
- CRCC Real Estate Group Co., Ltd. – Central arm for property development.
- CRCC Urban Rail Transit Co., Ltd. – Urban transportation infrastructure.
- CRCC Financial Leasing Co., Ltd. – Offers industrial and project financing.
- CRCC Insurance Brokers Co., Ltd. – Manages group-wide insurance services.
- CRCC Logistics Co., Ltd. – Runs supply chain and materials logistics.
Associates
- China Railway Erju Co., Ltd. (Listed)
- China Railway Construction Investment Group Co., Ltd.
- CRCC Investment Holding Co., Ltd.
9. Physical Properties
CRCC owns or operates:
- Headquarters: East, No. 40 Fuxing Road, Haidian District, Beijing
- Hong Kong Office: 23/F, Railway Plaza, Kowloon
- Warehousing & Logistics: 1.33 million m² of logistics sites, 40,000+ meters of railway tracks
- Manufacturing Bases: Including the largest underground engineering equipment base globally
- R&D Centers: CRCC Science and Technology Research Institute, plus 6 industry-focused research centers (e.g., green energy, underground space, bamboo material)
- Overseas Offices: Active presence in UAE, Nigeria, Serbia, Mexico, Guinea, and more
10. Founders
CRCC was founded as a spin-off from China Railway Construction Corporation, which originated as part of China’s railway military corps. Its restructuring in 2007 led to the formation of China Railway Construction Corporation Limited as a state-owned enterprise.
11. Board of Directors
Key Directors (2024)
- DAI Hegen – Chairman of the Board
- JING Jing – Secretary to the Board & Joint Company Secretary
- LAW Chun Biu – Joint Company Secretary
- WANG Qiang – Representative of Security Affairs
- Additional directors and supervisors: All appointed with full attendance at Board meetings.
Directors are supported by a Supervisory Committee and operate under the Articles of Association. All directors confirmed the truthfulness of the annual report.
12. Shareholding Structure
- Total Share Capital: 13,579,541,500 shares (as of December 31, 2024)
- Dividends: RMB 3.00 per 10 shares (cash dividend totalling RMB 4.07 billion)
- Parent Entity: China Railway Construction Corporation (CRCCG) is the controlling shareholder
- Distributable Profits: RMB 47.29 billion carried forward to 2025
13. Parent Company
- Parent Company: China Railway Construction Corporation (中國鐵道建築集團有限公司)
- Type: State-Owned Enterprise under SASAC
- Function: Holds controlling interest and strategic guidance over CRCC
14. Investments & Future Plans
Passive Investments
CRCC holds over RMB 40 billion in equity instrument investments, other debt investments, and trading financial assets.
| Investment Type | 2024 End Value (RMB ‘000) |
|---|---|
| Equity Instruments | 13,167,797 |
| Held-for-trading Financial Assets | 1,533,116 |
| Other Financial Assets | 11,376,122 |
Future Investment Plans
- “1256” Strategy: Long-term roadmap to transform the company into a high-end, intelligent, green, refined, digital, and internationally developed enterprise
- New Frontiers: Heavy investment in new infrastructure, energy, equipment, materials, and services
- AI & Digital Transformation: Infrastructure for smart projects, digital treasury, and AI-led platforms
- Green Innovation: Focus on renewable energy projects, bamboo-based materials, carbon-neutral zones
- Global Expansion: Deepening presence in Asia, Africa, and Latin America with customized infrastructure solutions
✅ Summary
CRCC stands as a flagship Chinese construction powerhouse with strategic reach across the globe. Through integrated engineering, manufacturing, logistics, and real estate solutions, the company has demonstrated sustained performance and forward-looking investment strategies, powered by innovation and state-level backing.
What is China Railway Construction Corporation Limited (CRCC)?
CRCC is a leading global construction and infrastructure enterprise headquartered in Beijing, China. Listed on the Shanghai and Hong Kong stock exchanges, it offers services in engineering, planning, logistics, finance, and more, across 148+ countries.
What are CRCC’s main business segments?
CRCC operates across eight major segments: construction operations, planning and design, manufacturing, real estate, materials and logistics, environmental protection, industrial finance, and emerging industries.
Where does CRCC operate globally?
CRCC has a presence in 148+ countries, including major projects in the UAE, Mexico, Nigeria, Guinea, and Serbia. It has both domestic dominance and significant international contracting experience.
How did CRCC perform financially in 2024?
CRCC recorded revenue of RMB 1.067 trillion and net profit of RMB 27.08 billion in 2024, with a diversified portfolio and strong domestic and overseas contract performance.
Who controls CRCC and what is its parent company?
CRCC is controlled by China Railway Construction Corporation (CRCCG), a central state-owned enterprise under the SASAC of China.
