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Tianjin Zhonghuan Semiconductor, Gree Electric Appliances, Changan Automobile, CSR Research Institute, CRRC Times Electric, Xiangtou Holdings, CRRC Electric, and CRRC New Materials jointly established Hunan Power Semiconductor Innovation Center with registered capital of CNY 500 million.
CRRC Times Electric agreed to acquire 100% of Zhuzhou Converter Technology National Engineering Research Center Co., Ltd. from its parent CRRC Zhuzhou Electric Locomotive Research Institute for approximately CNY 283 million, expected to close by December 31, 2016.