[3] It followed the direct parent company to become part of CSR Group in 2002 (spin off from the Ministry of Railways' LORIC).
As of 4 January 2017, Zhuzhou Times New Material Technology was absolutely controlled (>50%) by the state-owned CRRC Group via its flagship company CRRC[nb 1] and other unlisted subsidiaries.
[nb 2] Moreover, other subsidiaries of the State Council: Central Huijin Investment and National Council for Social Security Fund (as investment manager for the Social Security Fund), also owned minority stakes in TMT.
In the top 10 (direct) shareholders, only two were not related to the state, as private equity funds of the Bank of China and the Agricultural Bank of China (1.08% shares and 0.78% shares respectively).
[1] On 26 December 2016 – 3 January 2017, CRRC's non wholly owned subsidiary CRRC Qingdao Sifang, also sold 1.29% shares of the listed company to the general public for about CN¥14 each.