CRCC reacquires subsidiary equity for RMB11 bn

China Railway Construction Corporation Limited (CRCC) announced the acquisition of minority equity interests in four subsidiaries—China Railway 11 Bureau, China Railway Construction, CRCC Investment, and Kunlun Investment—for a total cash consideration of RMB11 billion. The transactions, formalized through Equity Transfer Agreements on October 31, 2025, will result in each target company becoming a wholly-owned subsidiary of CRCC.

The acquisition aggregates to a discloseable transaction under Hong Kong Listing Rules, as the highest applicable percentage ratio exceeds 5% but is less than 25%. Taiping Life and BOC Asset, holding significant stakes in certain subsidiaries, are connected persons to CRCC at the subsidiary level, making their portion of the acquisition a connected transaction.

The board of CRCC confirmed the terms of the proposed acquisition as fair, reasonable, and on normal commercial terms, serving the interests of the company and its shareholders. The acquisition aims to enhance CRCC's control, improve risk resistance, and boost profitability across its consolidated entities.