High-speed rail concept stocks generally rose in early trading. As of press release, Times Electric (03898) rose 5.13% to HK$31.75; CRRC (01766) rose 4.5% to HK$4.88; and China Express (03969) rose 2.4% to HK$3.41.
The Zhitong Finance App learned that high-speed rail concept stocks generally rose in early trading. As of press release, Times Electric (03898) rose 5.13% to HK$31.75; CRRC (01766) rose 4.5% to HK$4.88; and China Express (03969) rose 2.4% to HK$3.41.
According to the news, on May 10, the China Railway procurement platform issued an EMU tender notice. Shen Wan Hongyuan pointed out that 165 groups were first tendered in '24, and 103 groups were first tendered last year, an increase of 60%. All of the current tenders were 350 km/h models, which surpassed the total number of 164 tenders last year. This tender volume is the highest number of tenders in the past four years. Looking at the year, China Railway Group still has 2-3 tenders this year, and it is expected that there will be more than 300 tenders throughout the year.
Everbright Securities, on the other hand, pointed out that China Railway Group turned losses into profits in 23, maintained good growth in railway investment in 24, and industry sentiment continued to heat up; policies promoted the upgrading of the rail transit equipment industry, and old internal combustion locomotives are expected to usher in large-scale upgrades; tenders for advanced EMU repairs are growing rapidly, and demand for post-cycle maintenance will continue to rise. The bank believes that the rail transit equipment industry will directly benefit from the increase in railway investment, the increase in EMU demand brought about by the recovery in passenger flow, and the increase in demand for locomotive renewal and EMU maintenance.