May 2026
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Largest Rail Infrastructure Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
CRRC Corp., China Railway Group, China Railway Construction, Zhuzhou CRRC Times and China Railway Signal.
 | CRRC Corp Ltd is engaged in research and development, design, manufacturing, refurbishment, sales, leasing and technical services of railway locomotives, MUs, urban rail transit vehicles, engineering machinery, various electromechanical equipment, electronic equipment and components, as well as electronic devices and environmental protection equipment; information consultation; industry investment and management; asset management; import and export business. Its business operations are spread across Mainland China which derives the highest revenue, and a few other countries. | $1 | -15% | $23B | $17B | 0.4x | 4.0x | ||
| China Railway Group Ltd is a construction conglomerate company. The company's operating segment includes Infrastructure construction; Survey, design and consulting services; Engineering equipment and component manufacturing; Property development, and Other businesses. It generates maximum revenue from the Infrastructure construction segment. The Infrastructure construction segment includes the construction of railways, highways, bridges, tunnels, metropolitan railways (including subways and light railways), buildings, irrigation works, hydroelectricity projects, ports, docks, airports, and other municipal works. | $1 | -12% | $16B | $80B | 0.5x | 8.1x | ||
| China Railway Construction Corp Ltd operates as an infrastructure construction firm. It largely derives contracting revenue. It builds railways, highways and municipal works, such as subways and light rail systems. The company also engages in survey and design, manufacturing, logistics, and property development. It operates the following business segments: Construction, Planning & Design, manufacturing and Real Estate; and Other Business Operations. The firm's revenue gets dominated by the Construction segment that engages in the construction of infrastructure such as railways, highways, metropolitan railways, and real estate projects. | $1 | -18% | $12B | $90B | 0.6x | 9.0x | ||
| Zhuzhou CRRC Times Electric Co Ltd is in the R&D, design, manufacturing, and sales of rail transit equipment products and the provision of related services, and has an industrial structure of components, systems, and complete machines. Its products mainly include rail transit electrical equipment, railway engineering machinery, communication signal systems, and others. Meanwhile, the Company actively expands to industries other than rail transit, and conducts business in the fields of power semiconductor devices, industrial converter products, electric drive systems for new energy vehicles, sensor devices, and marine equipment, The Company operates in the domestic market and overseas markets. | $7 | +33% | $10B | $10B | 2.4x | 11.5x | ||
| China Railway Signal & Communication Corp Ltd provides products and services on the entire industrial chain of rail transit control systems. The company's operating segments are the rail transportation control system segment which provides specialized three-in-one services of design and integration, equipment manufacturing, and system implementation services for rail transportation control systems; General engineering contracting segment engages in the provision of services relating to municipal and other construction projects; and other segments mainly engage in trading. The firm generates a majority of its revenue from the rail transportation control system segment. | $1 | -1% | $7B | $5B | 1.0x | 6.7x | ||
| Glarun Technology Co Ltd is involved in fields associated with electronic information technology from high starting points and focuses on the growth and development in aspects of traffic electronics, supply chain integration service, microwave and communication, software and information service, energy electronics and other relevant industries. Its business fields include Rail transit; Air traffic; Intelligent transportation and Maritime traffic. | $3 | -27% | $4B | $4B | 8.0x | 33.3x | ||
| Median | $1 | -14% | $11B | $14B | 0.8x | 8.6x |
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