Recently, Maanshan Iron and Steel Co., Ltd. held the directorate meeting, which discussed and approved the "Proposal of Establishing Joint Venture Maanshan Magang Jinxi Railway Rolling Stock Co., Ltd. with Jinxi Axle Co., Ltd.".The registered capital of the joint venture will be RMB0.3 billion. Thereinto, Maanshan Iron and Steel Co., Ltd. and Jinxi Axle Co., Ltd. respectively will contribute RMB0.15 billion. The investment of wheel project of the joint venture will be RMB1.2 billion, and it is estimated the capacity will be 150,000 pairs annually.

The Ministry of Railways implemented a 200,000-km trial operation with the CRH wheels of Maanshan Iron and Steel Co., Ltd., and test was successfully completed in October. As a state-owned enterprise, Jinxi Axle Co., Ltd., the military equipment listed companies, has great advantages among the axle, wheel and rail bogies and other auxiliary equipment. Maanshan Iron and Steel Co., Ltd. and Jinxi Axle Co., Ltd. established a joint venture, and they will achieve a synergistic effect in wheel and axle design, development and sales, service, etc.