China Railway Emergency (603300.SH) plans to change its name to Hainan Huatie's business scope and add digital intelligence technology services

On October 14, Huatie Emergency (603300.SH) issued an announcement to change the company name, stock abbreviation, business scope, and amend the “Articles of Association”. The Chinese name of the company is to be changed to Zhejiang Haikong Nankehua Railway Digital Technology Co., Ltd., the stock abbreviation is to Hainan Huatie, and the business scope is to add digital intelligence services such as value-added telecommunications, digital technology services, and cloud computing services.

The sixth meeting of the 5th board of directors of the company held on October 12, 2024 has reviewed and passed the relevant bill, and the bill still needs to be submitted to the shareholders' meeting for consideration.

Since its establishment, China Railway Emergency has mainly been engaged in equipment leasing business, and has now formed two major business segments: aerial work platform leasing services and building support equipment leasing services. According to the 2024 semi-annual report, the company now manages more than 150,000 aerial work platforms and has opened 330 outlets across the country, ranking in the first tier of domestic aerial equipment leasing.

Recently, IRN100 released the 2024 global leasing rankings. Huatie Emergency ranked 29th in the world, an increase of 6 places over the previous year. According to public information, IRN100 is an index of the top 100 global leasing rankings published to the world every year by the British KHL Group, an internationally renowned industry evaluation agency, and is also the world's leading authoritative ranking of construction machinery information.

In July of this year, China Railway's emergency control rights were changed. Haikong Industrial Investment directly held 13.96% of the company's total shares, becoming the company's largest shareholder, and the actual controller was changed to the Hainan Provincial State-owned Assets Supervision and Administration Commission. The purpose of this change in the company name, stock abbreviation and business scope is to more effectively clarify the current holding relationship and better continue and spread the company's brand value.

Empowered by Hainan's state-owned assets, the company has successively reached strategic cooperation with many banks and financial leasing companies. The latest subject credit rating has also received an AA+ rating. Financing costs have been further reduced, and financing channels are more diversified.

At present, the company has set up a regional headquarters in Hainan. In the future, it will rely on the Hainan Free Trade Port's policy advantages in terms of safe and orderly flow of cross-border capital, taxation, investment, and data to speed up the construction of an intelligent computing center and promote the implementation of the computing power business. At the same time, the controlling shareholder will coordinate the resources of the airport, regional comprehensive development, commercial and trade services sectors within the system, strengthen business collaboration with the company's aerial work platforms and other equipment leasing, and further expand the company's business scale.

The company said that in the future, it will make full use of the Hainan Free Trade Port's policy advantages such as “zero tariffs, low tax rates, simplified tax system” and “safe and orderly data flow” to actively seize the new opportunities brought about by customs clearance and promote the company's high-quality development.