BII Trans Tech Celebrates Formal Launch of New Company Name
Complements Parent Company BII's "Collaborative Development Strategy in Beijing, Tianjin and Hebei"; Successfully Implements "Going Out" Strategy via PPP Projects
HONG KONG, Sep, 12 2017 - (ACN Newswire) - BII Railway Transportation Technology Holdings Company Limited (the "Company" or "BII Trans Tech," formerly known as "China City Railway Transportation Technology Holdings Company Limited," and together with its subsidiaries referred to as the "Group;" HKEX code: 1522.HK) today held an unveiling ceremony to mark formally the debut of its new name. Many investors were present to congratulate and witness the Company making a new milestone.
BII Trans Tech is the only overseas listed subsidiary of Beijing Infrastructure Investment Co., Ltd. ("BII"), the largest company directly under the State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality ("Beijing SASAC"). With BII becoming its holding company in end of 2016, BII Trans Tech is an industrial group focusing on city rail-related operations including investment and financing, technology research and development, intelligent rail transport construction, operation and maintenance, and civil communication information transmission services. To highlight its corporate background and positioning, the Company changed its name to "BII Railway Transportation Technology Holdings Company Limited", effective 25 August, and its stock short name has also been changed to BII Trans Tech.
Mr. Guan Jifa, Chairman and Non-executive Director of BII Trans Tech, said, "Capitalizing on the strong background of its controlling shareholder BII, the Group shall be able to seize the opportunities presented by development of the city rail transit industry backed by the Chinese government, benefiting from Beijing's out-reaching development initiatives such as the Beijing Suburban Railway, integration of Beijing, Tianjin and Hebei, and the Xiong'an New Area Plan. In the face of such new opportunities, after careful consideration and exhibiting shrewd foresight, the Group's management decided to change the company name to BII Railway Transportation Technology Holdings Company Limited, a move that marked a new milestone and the beginning of a new chapter of development for the Group."
BII, the Group's major shareholder, focuses on businesses relating to the investment, financing as well as management of infrastructure (mainly rail transit network), and businesses including rail transit facilities and equipment manufacturing and information technology services, land development, property development and management, as well as operation and services of related resources. In addition, BII owns the Beijing Subway, and as at end of 2016, the Beijing rail transit system comprised 19 operating rail transit lines of 574 km long all together and transit lines being constructed at a record high length of 300 km. The subway system has the most lines among all city rail transit systems in China and is one of the longest city rail transit systems in the world. As the only overseas-listed arm of BII, the Group can capitalize on BII's integrated industrial chain and apply its critical strengths in BII's rail transit projects. Riding on BII's industry position, years of experience in operation and management of rail transportation, and integrated industrial chain model, the Company has ample room for development in Beijing as well as the rest of the country in the future.
Expansion of systems integration business
As for the systems integration business, BII Trans Tech endeavors to develop itself into a core provider of information systems services for rail transit. The business mainly focuses on system integration, consolidation, optimization and enhancement of information systems for rail transit. It provides core systems and products, and operation and maintenance services to ensure secure operation of rail transit and enhance operational efficiency. On the network level, the Company provides core systems, namely Automated Fare Collection Clearing Centre (ACC) and Traffic Control Centre (TCC); and for line operation, core systems and products such as automated fare collection system (AFC), ISCS, Platform Screen Door System (PSD) and Passenger Information System (PIS) are provided, while for maintenance, the Company provides multi-dimensional maintenance services.
In 2017, the Group's systems integration business operation maintained good development in its overall operation benefiting from the fare reform entering phase 2, the Line No.2 platform door project, the Beijing-MTR MLC project and Beijing SI station platform door project. In the rest of the country outside Beijing, armed with a mature business model and leading subway command center technology, the Group built the "strongest brain" for the Chengdu metro system - the Chengdu Coordination and Command Centre (COCC), with 23 railway lines to oversee in the future. Furthermore, the Group will continue to maintain the advantage it gained from launching the Shenzhen Network Operation Control Center (NOCC) project in 2016 and has expanded into new markets, such as Changchun.
Expansion of civil communications business
The civil communications business mainly covers provision of transmission network services to telecom operators, thereby enables subway passengers to enjoy smooth communications services meeting their demand for mobile connection. To date, the Group owns civil information technology assets at 180 stations along 16 Beijing Subway lines, which included the 174 stations along 15 lines the Group acquired between 2014 and 2016 and the six stations in phase 2 of the Changping Line for which an acquisition agreement was just signed. Developing alongside the rail transit network in Beijing, the Group's civil communications business has started investing in building communications transmission systems for eight new or extended lines.
For this business, the Company continues to develop new areas of operation, exerting in particular the following: leasing of fiber optic, construction and leasing of 10 Gigabit Ethernet for railway transport, and construction and leasing of cloud service for rail transit. The business is expected to bring continuous stable income to the Group in the future.
New business development
The Group also keeps developing new businesses. Regarding the airport express line, the Group and Beijing Mass Transit Railway Operation Company Limited have established Beijing City Metro Company Limited ("Beijing City Metro"), with registered capital of RMB500 million and the Group holding 49% equity interests. Beijing City Metro targets to engage mainly in investment, construction, operation, management, value-added services and property development of subway lines. At the end of May 2017, Beijing City Metro has acquired the right to the operating income, including income from fare, advertising and rental, of the airport express line of Beijing Subway.
Regarding railway businesses in other places, as the business expands, the Group now has a customer base in Shenzhen, Chengdu and Changchun. And, via its subsidiary in Hong Kong, it has expanded its business in Hong Kong, Singapore and Thailand. Furthermore, the Group has kept pace with the expansion of its parent BII and participated in more Public-Private Partnership ("PPP") projects of BII.
As for the business of subway science and technology, in 2016, the Group and Beijing Mass Transit Railway Operation Company Limited set up Beijing Metro Technology Development Co., Ltd. in which the Group holds 49% equity interests. This joint venture mainly engages in AFC development and maintenance business within the subway operating area.
Mr. Guan concluded, "Looking ahead, the Group will seize opportunities brought by city rail transit development, capitalizing on BII's integrated industrial chain as well as overseas capital markets, in its bid to gradually build a business with intelligent rail transit and related civil communications transmission services at the core. Based on its solid footing in Beijing and Hong Kong, the Group will push to grow its businesses nationwide. It will operate in complement with BII's 'Collaborative Development for Beijing-Tianjin-Hebei' and PPP 'Going Out' strategy, pushing forward works on all business fronts so that it may achieve quality breakthroughs as it transforms and develops."
About BII Railway Transportation Technology Holdings Company Limited
BII Railway Transportation Technology Holdings Company Limited ("BII Trans Tech" or "the Group", formerly known as "China City Railway Transportation Technology Holdings Company Limited") is the only overseas listed company controlled by Beijing Infrastructure Investment Co., Ltd. ("BII") directly under Beijing SASAC. It is an industrial group focusing on city rail related operations including investment and financing, technology research and development, intelligent rail transport construction, and operation and maintenance, and civil communication information transmission service. The Group was listed on the Growth Enterprise Market of the Hong Kong Stock Exchange on 16 May 2012 and transferred listed to the Main Board of Hong Kong Stock Exchange on 6 December 2013 under the stock code 1522.HK. The Group currently has more than 300 employees working in its six wholly-owned subsidiaries, two holding companies and four joint-stock companies.
Leveraging BII's well-integrated industrial setup and overseas capital markets, the Group has been able to seize opportunities brought by development of city rail transit construction and gradually build a business with intelligent rail transport and civil communications information transmission services at the core. Based in Beijing and Hong Kong, the Group boasts a business footprint that spans the entire country. Its core businesses cover city rail transit investment, financing, construction, operation and maintenance, providing services throughout the entire city rail development cycle. It also serves as a platform for BII to help develop the rail transit industry.
For more information about the Group, please visit http://www.biitt.cn/.
Strategic Financial Relations (China) Limited
Ms. Anita Cheung Tel: (852) 2864 4827
Ms. Jover Wong Tel: (852) 2864 4811
Ms. Jacqueline Tang Tel: (852) 2864 4846
Mr. Tommy Chan Tel: (852) 2864 4838
Source: BII Railway Transportation Technology Holdings Company Limited
Sectors: Daily Finance, Daily News
Copyright ©2017 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
More Latest Release >>
NTT and Toyota Begin Joint Research Aimed at Promoting the Use of Lifestyle Support Robots
Sep 25, 2017 13:41 JST
SDK Begins Shipping Best-in-Class 2.5-Inch 1 TB HD Media
Sep 25, 2017 13:30 JST
Overview of Honda Exhibit at CEATEC JAPAN 2017
Sep 25, 2017 13:07 JST
Honda Begins Demonstration Testing in Philippines of System Designed for Utilization of Surplus Electricity with Use of Detachable Mobile Battery
Sep 25, 2017 12:39 JST
Dr. Hiroyuki Matsunami, Professor Emeritus, Kyoto University Received the Honda Prize 2017 for Contribution to Pioneering Research on Silicon Carbide (SiC) Power Devices and its Practical Applications
Sep 25, 2017 11:58 JST
Sir David Adjaye Joins Elite Panel of Judges for Lexus Design Award 2018
Sep 22, 2017 17:33 JST
Showa Denko Establishes Fourth Bulk Molding Compound Plant in Asia
Sep 22, 2017 17:00 JST
Eisa: Additional Dosage and Administration of Proton Pump Inhibitor Pariet 5 mg Tablets, 10 mg Tablets Approved in Japan for Maintenance Therapy of Proton Pump Inhibitor Resistant Reflux Esophagitis
Sep 22, 2017 16:46 JST
RTI and NEC Announce that the SEA-US Submarine Cable is Ready for Service and that the Marine Survey has Begun for a Hong Kong Extension
Sep 22, 2017 15:08 JST
Eisai Presents Latest Non-Clinical Data on Its First Antibody-Drug Conjugate MORAb-202 at 8th Annual World ADC
Sep 22, 2017 10:56 JST
Mitsubishi Corporation Subsidiary (Hernic Ferrochrome Proprietary Limited) Commences Business Rescue Proceedings
Sep 22, 2017 10:50 JST
Honda Added to the Dow Jones Sustainability World Index
Sep 21, 2017 14:34 JST
NEC Completes Construction of "SKR1M," a 100Gbps Submarine Cable in Malaysia
Sep 21, 2017 11:40 JST
Fujitsu Chosen for the Dow Jones Sustainability World Index for 18th Time
Sep 21, 2017 11:26 JST
Hitachi Aims To Disrupt Industrial IoT Platform Market With New Commercial Lumada Software Stack
Sep 20, 2017 20:04 JST
Hitachi Introduces Hitachi Vantara: A New Digital Company Committed to Solving the World's Toughest Business and Societal Challenges
Sep 20, 2017 19:26 JST
Mitsubishi Motors @ 45th Tokyo Motor Show an Ambition to Explore
Sep 20, 2017 19:03 JST
Fujitsu Laboratories and University of Toronto Enter Strategic Partnership
Sep 20, 2017 15:40 JST
Fujitsu Fuses Deep Tensor with Knowledge Graph to Explain Reason and Basis Behind AI-Generated Findings
Sep 20, 2017 15:35 JST
Fujitsu Technology Facilitates Application of Combinatorial Optimization Methods to Real-World Problems
Sep 20, 2017 15:30 JST
|Senior management of BII Railway Transportation Technology Holdings Company Limited, including (from the left) Mr. Wang Xinjiang, Chief Financial Officer, Ms. Xuan Jing, Chief Executive Officer & Executive Director, Mr. Guan Jifa, Chairman & Non-Executive Director, Mr. Cao Wei, Vice Chairman & Executive Director and Mr. Ren Yuhang, Non-Executive Director, officiate the toasting ceremony.|