Core Viewpoint - China Railway (601390.SH) has announced a share buyback program, indicating a commitment to returning value to shareholders through capital management strategies [1] Summary by Categories Share Buyback Details - As of October 31, 2025, the company has repurchased a total of 6.9986 million shares [1] - The repurchased shares account for 0.0283% of the company's total share capital [1] - The highest transaction price during the buyback was 5.75 yuan per share, while the lowest was 5.63 yuan per share [1] - The total amount spent on the buyback reached 39.9993 million yuan, excluding transaction fees [1]

A 股代码：601390 A 股简称：中国中铁 公告编号：临 2025-060 H 股代码：00390 H 股简称：中国中铁 关于股份回购进展公告 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管 指引第 7 号——回购股份》等法律法规及规范性文件的规定，现将公司截 至上月末回购股份的进展情况公告如下： 截至 2025 年 10 月 31 日，公司通过上海证券交易所系统以集中竞价 交易方式累计回购股份 6,998,600 股，已回购股份占公司总股本的比例为 0.0283%，成交最高价为 5.75 元/股，成交最低价为 5.63 元/股，成交总 金额为 39,999,328.00 元（不含交易费用）。 上述股份回购符合法律法规的规定及公司回购方案的要求。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 一、回购股份的基本情况 中国中铁股份有限公司（以下简称"本公司"或"公司"）2025 年 6 月 20 日召开 2024 年年度股东大会、2025 年第一次 A 股类别股东会议、 重要内容提示： 回购方案首次披露日 ...

Group 1 - The core point of the article is that China Railway announced a share buyback plan, having repurchased a total of 6.9986 million shares by October 31, 2025, which accounts for 0.0283% of the company's total share capital [1] - The highest transaction price during the buyback was 5.75 yuan per share, while the lowest was 5.63 yuan per share [1] - The total amount spent on the share buyback reached 39.9993 million yuan, excluding transaction fees [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國中鐵股份有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00390 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,207,390,000 | RMB | | | 1 RMB | | 4,207,390,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 4,207,390,000 | RMB | | | 1 RMB | | 4,207,390,000 | | 2. 股份分類 ...

每经AI快讯，中国中铁（SH 601390，收盘价：5.62元）11月4日晚间发布公告称，截至2025年10月31 日，公司通过上海证券交易所系统以集中竞价交易方式累计回购股份约700万股，已回购股份占公司总 股本的比例为0.0283%，成交最高价为5.75元/股，成交最低价为5.63元/股，成交总金额约为4000万元。 截至发稿，中国中铁市值为1390亿元。 2025年1至6月份，中国中铁的营业收入构成为：市政占比43.99%，铁路行业占比27.61%，公路占比 13.52%，其他行业占比5.87%，房地产开发占比3.05%。 每经头条（nbdtoutiao）——中国这个行业爆了！海外订单猛增246%，覆盖50多国和地区，企业家提 醒：有人正以亏本价销售，警惕恶性竞争扩至海外 （记者 曾健辉） ...

Core Viewpoint - China Railway (601390.SH) has announced a share buyback program, indicating a commitment to returning value to shareholders through capital management strategies [1] Summary by Categories Share Buyback Details - As of October 31, 2025, the company has repurchased a total of 6.9986 million shares [1] - The repurchased shares account for 0.0283% of the company's total share capital [1] - The highest transaction price during the buyback was 5.75 CNY per share, while the lowest was 5.63 CNY per share [1] - The total amount spent on the buyback reached 39.9993 million CNY, excluding transaction fees [1]

中国中铁公告，截至2025年10月31日，公司通过上海证券交易所系统以集中竞价交易方式累计回购股份 699.86万股，已回购股份占公司总股本的比例为0.0283%，成交最高价为5.75元/股，成交最低价为5.63 元/股，成交总金额为3999.93万元（不含交易费用）。 ...

Core Insights - Traditional infrastructure giants are facing challenges in revenue and profit due to a slowdown in real estate and infrastructure projects, with five out of eight major state-owned construction enterprises reporting revenue declines and seven experiencing profit shrinkage [1] - The shift towards overseas markets, particularly in Southeast Asia, is becoming a crucial path for transformation and growth for these companies [1][3] Group 1: Revenue and Profit Trends - In the first three quarters of this year, major construction enterprises like China Railway and China State Construction reported significant revenue declines, with China Metallurgical Group experiencing a nearly 20% drop [10][11] - Only a few companies, such as China Electric Power Construction and China Energy Construction, managed to achieve revenue growth, with increases of 3.04% and 9.62% respectively [10] - The overall profit situation is concerning, with most companies, except for China Chemical, showing declines in net profit, particularly China Metallurgical Group, which saw a 41.88% decrease [10][11] Group 2: Overseas Expansion - Chinese construction companies are increasingly focusing on overseas projects, with China Communications Construction Company (CCCC) signing contracts worth 319.7 billion yuan abroad in 2023, a 47.50% increase year-on-year [3][4] - China Railway and China Railway Construction Corporation also reported significant growth in overseas contracts, with increases of 35.2% and 94.52% respectively [4][5] - The trend of overseas expansion is driven by the need to offset domestic revenue declines, with companies like China Railway achieving an 8.34% increase in overseas revenue despite a 6.83% drop domestically [12] Group 3: Market Opportunities - The global infrastructure investment gap is projected to reach 15 trillion USD by 2030, with Asia accounting for over 60%, presenting significant opportunities for Chinese companies [6] - The demand for low-carbon infrastructure is expected to grow, with an estimated investment of 9.2 trillion USD in renewable energy projects from 2023 to 2030 [6][7] - Major infrastructure projects in countries like Indonesia, Vietnam, and Thailand indicate a robust pipeline of opportunities for Chinese construction firms [7]

Core Insights - Both China Railway and China Railway Construction reported declines in revenue and profit for the first three quarters of 2025, attributed to the ongoing adjustment in the construction industry and market conditions [1][2] Financial Performance - China Railway's revenue reached 773.814 billion yuan, with a non-net profit of 15.201 billion yuan, reflecting year-on-year declines of 5.46% and 20.04% respectively [1] - China Railway Construction reported revenue of 728.403 billion yuan and a non-net profit of 13.869 billion yuan, with year-on-year declines of 3.92% and 6.14% respectively [1] Market Conditions - The construction industry remains in a deep adjustment phase, leading to increased competition and continued downward trends in revenue and profit for both companies [2] - National investments in fixed assets for road traffic and real estate development have shown a downward trend year-on-year [1] New Contracts - China Railway signed new contracts worth 1,584.92 billion yuan, a year-on-year increase of 3.7%, with domestic contracts at 1,418.28 billion yuan (up 1.0%) and overseas contracts at 166.64 billion yuan (up 35.2%) [2] - China Railway Construction's new contracts totaled 1,518.765 billion yuan, achieving 49.63% of its annual target, with a year-on-year growth of 3.08% [2] Overseas Business Growth - China Railway Construction emphasized the importance of overseas business, reporting significant growth in this area due to strategic initiatives and key project signings in regions such as Africa, Latin America, and the Middle East [3] - The company has implemented an "overseas priority" strategy, focusing on core markets and high-quality project management [3] Engineering Business - The engineering construction segment for China Railway saw new contracts of 1,065.17 billion yuan, a year-on-year decrease of 1.9%, while China Railway Construction's engineering contracting segment reported new contracts of 1,109.23 billion yuan, down 0.39% year-on-year [3]

Core Points - The Wuhan Metro Line 12 has reached a critical milestone with the successful launch of the right-line tunnel boring machine, entering the dual-line synchronous excavation phase between Hangang Station and Hanxi Road South Station [1][3] - Once completed, the metro will allow passengers to cross the Han River in approximately 2 minutes, enhancing the efficiency of cross-river transportation in Wuhan [1] Construction Details - The tunnel section is a key control project, constructed by China Railway's subsidiary, China Railway Construction Investment, with China Railway First Group as the contractor [3] - The left tunnel is 1,372 meters long, and the right tunnel is 1,379 meters long, requiring the boring machine to operate approximately 30 meters underground through a clay layer and under 10 significant structures, including the Han River and Metro Line 1 [3] - To minimize ground disturbance during the dual-line excavation, a staggered launch plan was implemented, with the left line starting on October 20 and the right line on October 31 [3] Geological Challenges - The construction site presents complex geological conditions, including thick mud layers, loose sand layers, hard bedrock, and fractured zones, particularly under the Han River [3] - The underwater segment of the tunnel spans 347 meters, accounting for over 25% of the total length, with challenges such as a maximum cover depth of 41.2 meters and a maximum water pressure of 0.4 MPa [3] Safety and Quality Control - The construction team employs real-time monitoring of river surface dynamics, optimized boring tools, and a composite reinforcement technique to ensure safety and precision during excavation [3][4] - The project manager, a young professional with ten years of experience, emphasizes a "five no" quality standard: no pollution, no misalignment, no damage, no leakage, and no exceedance, which is integrated throughout the construction process [4][5]