Zhuzhou Times New Material Technology

Zhuzhou Times New Material Technology Co., Ltd. known also as TMT,[2] is a Chinese plastic manufacturer based in Zhuzhou, Hunan Province. The company also produced mica.

Zhuzhou Times New Material Technology
TypePublic
SSE: 600458
Industrymanufacturing
Founded1984 (1984)
FounderZhuzhou Electric Locomotive Research Institute
Headquarters
Zhuzhou
,
China
Area served
China
Key people
Li Donglin (chairman)
Products
  • mica
  • plastic
Owner
CRRC[1]: 33 (39.56%)
CRRC Group (excluding CRRC)[1]: 33 (11.46%)
Central Huijin[1]: 30 (02.17%)
Social Security Fund[1]: 31 (00.72%)
general public(46.09%)
Parent
Zhuzhou Institute(direct)
CRRC(intermediate)
CRRC Group(intermediate)
the SASAC(intermediate)
the State Council(ultimate)
Websitezz-tmt.com
Zhuzhou Times New Material Technology Co., Ltd.
Simplified Chinese株洲时代新材料科技股份有限公司
Traditional Chinese株洲時代新材料股份有限公司
Alternative Chinese name
Simplified Chinese时代新材
Traditional Chinese時代新材
Literal meaningTimes New Material

History

The predecessor of TMT was found as a research division of Zhuzhou Electric Locomotive Research Institute (now CRRC Zhuzhou Institute Co., Ltd., formerly CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd.) in 1984.[3] It followed the direct parent company to become part of CSR Group in 2002 (spin off from the Ministry of Railways' LORIC). On 19 December 2002 the company became a listed company.[2]

In 2007 CSR Group spin off CSR Corporation Limited as the new holding company for CSR Zhuzhou Electric Locomotive Research Institute, as well as also listed in the stock exchange. In 2015, TMT became an indirect subsidiary of CRRC Group and its listed flagship CRRC.

Shareholders

As of 4 January 2017, Zhuzhou Times New Material Technology was absolutely controlled (>50%) by the state-owned CRRC Group via its flagship company CRRC[nb 1] and other unlisted subsidiaries.[nb 2] Moreover, other subsidiaries of the State Council: Central Huijin Investment and National Council for Social Security Fund (as investment manager for the Social Security Fund), also owned minority stakes in TMT. In the top 10 (direct) shareholders, only two were not related to the state, as private equity funds of the Bank of China and the Agricultural Bank of China (1.08% shares and 0.78% shares respectively).[1]

On 26 December 2016 – 3 January 2017, CRRC's non wholly owned subsidiary CRRC Qingdao Sifang, also sold 1.29% shares of the listed company to the general public for about CN¥14 each.[1]

Footnotes
  1. via CRRC Zhuzhou Institute (36.43%), CRRC Zhuzhou Locomotive (1.54%), CRRC Ziyang (0.89%) and CRRC Dalian.
  2. Namely, CSR Group Investment Management (8.22%), CRRC Group Zhuzhou Rolling Stock Works (1.11%), CRRC Group Nanjing Puzhen Rolling Stock Works (0.88%), CRRC Group Meishan Rolling Stock Works and CRRC Group Shijiazhuang Rolling Stock Works.

References
  1. 2016年年度报告 [2016 Annual Report] (PDF). Zhuzhou Times New Material Technology (in Chinese). Shanghai Stock Exchange. 30 March 2017. Retrieved 11 June 2017.
  2. 公司概况 [600458] (in Chinese). Shanghai Stock Exchange. Retrieved 11 June 2017.
  3. 企业概况 [About us] (in Chinese). Zhuzhou Times New Material Technology. Retrieved 11 June 2017.
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