CRSC establishes new fundraising accounts for reallocated IPO proceeds

China Railway Signal & Communication Corporation (CRSC) announced on November 27, 2025, the establishment of dedicated accounts for its reallocated fundraising proceeds. The company previously raised a total of RMB 10.53 bn from an initial public offering of 1.8 bn A-shares in 2019, with net proceeds of RMB 10.354 bn.

Following a shareholder meeting on November 21, 2025, CRSC reallocated remaining funds from a terminated advanced and intelligent manufacturing base project. A portion is now directed towards new projects, including a "Xi'an Industrial Group Shenxin Company track control system basic equipment independent research and development base digital intelligence transformation project," a "track transportation series cable production line intelligent, green and technological upgrade project," and a "Xi'an Industrial Group traditional production line intelligent transformation upgrade project."

CRSC has opened new dedicated accounts with CITIC Bank Corporation Limited (Beijing Branch) for these new projects. As of November 24, 2025, each new account shows a balance of RMB 0. The company, its subsidiaries, and China International Capital Corporation Limited as the sponsor, have signed new tripartite supervision agreements with CITIC Bank to oversee the storage and use of these funds.