Zhuzhou Times New Material Technology

Zhuzhou Times New Material Technology Co., Ltd., commonly known as TMT, is a Chinese materials-manufacturing company headquartered in Zhuzhou, Hunan Province. The company is associated with the state-owned CRRC group and is described as a plastics manufacturer, with mica also forming part of its historical product scope. Its origins lie in a research division established in 1984 within the Zhuzhou Electric Locomotive Research Institute, the organization that later became CRRC Zhuzhou Institute Co., Ltd. The business therefore developed from a research and industrial-technology environment closely connected to China’s railway-equipment sector rather than from an independent consumer-brand venture. The company’s corporate history reflects the restructuring of China’s railway and industrial-equipment organizations. In 2002, the predecessor followed its direct parent into CSR Group, which had emerged from the former Ministry of Railways Locomotive and Rolling Stock Industry Corporation. On 19 December 2002, Zhuzhou Times New Material Technology became a publicly listed company. A further reorganization occurred in 2007, when CSR Group spun off CSR Corporation Limited as the new holding company for CSR Zhuzhou Electric Locomotive Research Institute and related interests. In 2015, following the creation and consolidation of China Railway Rolling Stock Corporation, TMT became an indirect subsidiary of CRRC Group through CRRC and its associated corporate structure. TMT’s principal identity is that of an industrial materials supplier. Its publicly described activities center on plastics, while mica is identified as another area of production. The available reference material does not provide a complete catalog of product families, brands, facilities, revenues, or geographic sales markets, so the company is best characterized conservatively as a specialized Chinese industrial-materials manufacturer rather than assigned a narrower application portfolio. Its historical relationship with railway research institutions and CRRC places it within a broader industrial ecosystem serving transportation and equipment manufacturing, although specific end-use products should not be inferred without additional sourcing. Ownership has been substantially state-controlled. As of 4 January 2017, CRRC Group controlled more than half of the company through CRRC Corporation Limited and other unlisted subsidiaries. Central Huijin Investment and the National Council for Social Security Fund also held minority interests. The shareholder structure additionally included investment vehicles connected with the Bank of China and Agricultural Bank of China. Between 26 December 2016 and 3 January 2017, CRRC Qingdao Sifang, a non-wholly owned CRRC subsidiary, sold 1.29 percent of TMT’s shares to the general public at approximately CN¥14 per share, according to the cited reference material. No current ownership percentages, financial figures, or operating data are established here.

Zhuzhou Times New Material Technology originated in 1984 as a research division of the Zhuzhou Electric Locomotive Research Institute in Hunan Province. That institute, now known as CRRC Zhuzhou Institute Co., Ltd., was part of the technical and industrial infrastructure supporting China’s railway-equipment sector. The company’s origins gave it an engineering-oriented foundation and linked its later commercial development to the wider railway and rolling-stock industry. In 2002, the predecessor organization followed its direct parent into CSR Group. CSR Group had been formed through the reorganization of the former Ministry of Railways Locomotive and Rolling Stock Industry Corporation. On 19 December 2002, Zhuzhou Times New Material Technology became a listed company, marking its transition from a research-derived enterprise into a publicly traded industrial manufacturer. The corporate structure changed again in 2007. CSR Group spun off CSR Corporation Limited as the new holding company for CSR Zhuzhou Electric Locomotive Research Institute and related interests. TMT consequently operated within an increasingly consolidated state-linked railway-equipment group. In 2015, the company became an indirect subsidiary of CRRC Group after the formation of CRRC, the large state-owned railway-equipment organization created through the merger of CSR Corporation and China CNR Corporation. TMT is identified primarily as a Chinese plastics manufacturer. Mica is also associated with the company’s production history. The available reference material does not specify the full range of grades, applications, production sites, or customer industries, so its product history should be described at the level of industrial plastics and mica rather than through unsupported product claims. Its institutional background nevertheless places it within a research-intensive materials and equipment ecosystem connected to CRRC and the railway sector. The company’s ownership was predominantly state-controlled by early 2017. On 4 January 2017, CRRC Group controlled more than 50 percent of TMT through CRRC Corporation Limited and other unlisted subsidiaries. Central Huijin Investment and the National Council for Social Security Fund were also minority shareholders. Among the ten largest direct shareholders, only two were unrelated private-equity vehicles, associated with the Bank of China and Agricultural Bank of China. From 26 December 2016 through 3 January 2017, CRRC Qingdao Sifang sold 1.29 percent of TMT’s shares to the general public at approximately CN¥14 per share. The supplied sources do not establish more recent ownership, management, financial performance, or strategic developments.

• 2017

  Ownership structure documented as majority state-controlled

  [1]Zhuzhou Times New Material Technologyen.wikipedia.org

  As of 4 January 2017, CRRC Group controlled more than half of TMT through CRRC and related subsidiaries, with additional minority holdings by state-linked investment institutions.

• 2015

  Joined the indirect CRRC Group structure

  [1]Zhuzhou Times New Material Technologyen.wikipedia.org

  TMT became an indirect subsidiary of CRRC Group following the consolidation of China’s major railway-equipment companies.

• 2007

  CSR Corporation Limited became the new holding company

  [1]Zhuzhou Times New Material Technologyen.wikipedia.org

  CSR Group spun off CSR Corporation Limited as the new holding company for CSR Zhuzhou Electric Locomotive Research Institute and related businesses.

• 2002

  Entered CSR Group and became listed

  [1]Zhuzhou Times New Material Technologyen.wikipedia.org

  The company followed its parent into CSR Group and became a listed company on 19 December 2002.

• 1984

  Research-division predecessor established

  [1]Zhuzhou Times New Material Technologyen.wikipedia.org

  The predecessor of TMT was established as a research division of the Zhuzhou Electric Locomotive Research Institute.

A state-linked Chinese industrial-materials manufacturer rooted in railway research and equipment-industry technology, with plastics as its principal described business and mica as a historical product area.

• Plastics

  Industrial plastics

  Industrial plastics are the company’s principal publicly described product area. TMT developed from a research organization associated with railway and equipment engineering, but the supplied reference does not identify specific resin types, formulations, component brands, or end-use applications. The business is therefore best recorded as a manufacturer of plastic materials for industrial use without assigning unsupported technical specifications.

• Industrial minerals and insulating materials

  Mica

  Mica is identified as another product area associated with Zhuzhou Times New Material Technology. The available material does not indicate whether the company’s mica output is focused on sheets, processed materials, electrical insulation, or another format. It is included as a historical product category rather than a detailed current portfolio claim.

• 2010

  Criticized by Shanghai Stock Exchange for Untimely and Inaccurate Information Disclosure

  The Shanghai Stock Exchange found that Times New Material had problems of untimely and inaccurate information disclosure and insufficient risk disclosure, and issued a circulated criticism to the company, then general manager Yang Jun, and then board secretary Jiang Qibin; the company also received regulatory attention because government subsidies were not disclosed in a timely manner. Circulated criticism, regulatory attention.

  Source

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• 2015

  Integration into the CRRC group structureStrategy

  Background

  The merger and consolidation of China’s major railway-equipment groups created CRRC Group and its listed flagship, CRRC Corporation Limited.

  Action taken

  TMT became an indirect subsidiary of CRRC Group.

  Aftermath

  The company continued as a materials business within the enlarged state-owned CRRC organization.

  Source

• 2002

  Transition to a listed industrial companyStrategy

  Background

  The research-derived enterprise was being integrated into the reorganized CSR railway-equipment group.

  Action taken

  Zhuzhou Times New Material Technology became a publicly listed company on 19 December 2002.

  Aftermath

  The listing established TMT as a public company within the broader state-linked railway-industrial structure.

  Source

1. 1Zhuzhou Times New Material Technologyen.wikipedia.org
2. 2Criticized by Shanghai Stock Exchange for Untimely and Inaccurate Information Disclosuresse.com.cn
3. 3Criticized by Shanghai Stock Exchange for Untimely and Inaccurate Information Disclosurevip.stock.finance.sina.com.cn