中国中车股份有限公司 2025 年第三次临时股东会 会 议 材 料 二〇二五年十二月 | | | | 议案 1：关于分拆所属子公司中车戚所至深圳证券交易所创业板上市背景 | | --- | | 及目的、商业合理性、必要性及可行性分析的议案 3 | | 议案 2：关于分拆所属子公司中车戚所至深圳证券交易所创业板上市符合 | | 相关法律、法规规定的议案 8 | | 议案 3：关于所属子公司中车戚所首次公开发行股票并在深圳证券交易所 | | 创业板上市方案的议案 9 | | 议案 4：关于《分拆所属子公司中车戚所至深圳证券交易所创业板上市的 | | 预案（修订稿）》的议案 12 | | 议案 5：关于分拆所属子公司至创业板上市符合《上市公司分拆规则（试 | | 行）》的议案 13 | | 议案 6：关于分拆所属子公司中车戚所至深圳证券交易所创业板上市有利 | | 于维护股东和债权人合法权益的议案 29 | | 议案 7：关于公司保持独立性及持续经营能力的议案 30 | | 议案 8：关于中车戚所具备相应规范运作能力的议案 32 | | 议案 9：关于本次分拆履行法定程序的完备性、合规性及提交的法律文件 | | 的 ...

证券代码：601766（A 股） 证券简称：中国中车（A 股） 公告编号：2025-053 证券代码： 1766 （H 股） 证券简称：中国中车（H 股） 中国中车股份有限公司 关于召开2025年第三次临时股东会的通知 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。 重要内容提示： 股东会召开日期：2025年12月29日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、召开会议的基本情况 （一） 股东会类型和届次：2025年第三次临时股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 （四） 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 12 月 29 日 14 点 00 分 召开地点：北京市海淀区西四环中路 16-5 号中国中车股份有限公司 515 会 议室 网络投票起止时间：自2025 年 12 月 29 日至2025 年 12 月 29 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日 ...

Core Viewpoint - China CRRC has successfully developed and launched its first megawatt-level PEM hydrogen production system, achieving full power operation, marking a significant advancement in PEM hydrogen technology [1][4]. Group 1: Technology and Performance - The PEM hydrogen production technology aligns with the intermittent and volatile characteristics of renewable energy, making it suitable for hydrogen production projects using wind and solar power [3][6]. - The megawatt-level PEM hydrogen system has a direct current energy consumption of less than 4.2 kWh/Nm³, with core performance indicators reaching industry-leading levels [3][6]. - The system incorporates high safety and reliability principles throughout its design, verification, integration, and operation lifecycle, utilizing advanced components to minimize hydrogen leakage and production energy consumption [3][6]. Group 2: Design and Application - The system features a containerized design, allowing for flexible transportation and rapid deployment, suitable for complex environments such as offshore platforms and deserts [3][6]. - It can be applied in scenarios such as wind-solar coupled hydrogen production, energy supply for remote areas, and green hydrogen substitution in chemical production, producing high-purity hydrogen for direct supply to fuel cells or chemical production [3][6]. - The system effectively reduces storage and transportation costs as well as carbon emissions [3][6]. Group 3: Strategic Implications - The successful commissioning of the megawatt-level PEM hydrogen system is a strong testament to China CRRC's commitment to the national "dual carbon" strategy and its efforts to create a "dual-track dual-cluster" industrial development pattern [3][6]. - Moving forward, China CRRC will continue to focus on new energy application scenarios, deepening technological exploration and innovation practices to provide efficient and reliable clean energy equipment solutions, thereby contributing significantly to the acceleration of the "dual carbon" strategic goals [3][6].

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國中車股份有限公司 呈交日期: 2025年12月1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) | 01766 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,371,066,040 | RMB | | 1 | RMB | | 4,371,066,040 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,371,066,040 | RMB | | | 1 RMB | | 4,371,066,040 | | 2. 股 ...

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國中車股份有限公司 呈交日期: 2025年12月1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) | 01766 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,371,066,040 | RMB | | 1 | RMB | | 4,371,066,040 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,371,066,040 | RMB | | | 1 RMB | | 4,371,066,040 | | 2. 股 ...

Core Viewpoint - China CRRC plans to spin off its subsidiary CRRC Qishao for listing on the Shenzhen Stock Exchange's Growth Enterprise Market, aiming to enhance business focus and specialization in key sectors [1][3][4]. Group 1: Business Focus and Performance - The spin-off will allow China CRRC to concentrate on its core businesses, including railway equipment, urban rail and infrastructure, new industries, and modern services [1][4]. - For the first three quarters of 2025, China CRRC reported a revenue of 183.87 billion yuan, a year-on-year increase of 20.49%, and a net profit of 9.96 billion yuan, up 37.53% [1][6]. - The company anticipates that its total revenue for 2025 could exceed 280 billion yuan, setting a new historical record [8]. Group 2: Financial Health and Dividends - China CRRC announced a mid-term dividend of 3.16 billion yuan, marking the first time the company has issued a mid-term dividend in its history [1][12]. - Since its listing, China CRRC has distributed dividends 18 times, totaling 63.60 billion yuan [13]. - As of 2024, CRRC Qishao's total assets amounted to 9.41 billion yuan, with total liabilities of 4.4 billion yuan, resulting in a debt-to-asset ratio of 46.75% [4]. Group 3: Strategic Developments - The spin-off will create an independent platform for CRRC Qishao, focusing on high-end equipment and system solutions, enhancing its competitive edge in specialized fields [4]. - China CRRC is also expanding through acquisitions, such as the recent agreement for Long Passenger Company to acquire 100% of Equipment Technology Company for approximately 186 million yuan [9][10].

Core Viewpoint - China CNR Corporation Limited plans to spin off its subsidiary, CRRC Qishuyan Locomotive and Rolling Stock Research Institute Co., Ltd. (referred to as "CRRC Qishuyan"), for listing on the Shenzhen Stock Exchange's ChiNext board, while maintaining control over the subsidiary [1][3] Group 1: Company Actions - The spin-off requires approval from the company's shareholders and compliance with relevant regulations from the stock exchange and the China Securities Regulatory Commission [1] - The move aims to enhance business focus, allowing China CNR to concentrate on core sectors such as railway equipment, urban rail and infrastructure, new industries, and modern services [1][3] Group 2: Financial Performance - CRRC Qishuyan, a key provider of high-end equipment components and system solutions, reported an expected net profit of 308 million yuan for 2024 [3] - Post spin-off, CRRC Qishuyan will remain a controlled subsidiary within the consolidated financial statements of China CNR, ensuring that its financial status and profitability continue to impact the parent company's overall performance [3] Group 3: Market Trends - The spin-off is indicative of the growing trend of "A-share spin-offs," with nearly 30 A-share listed companies pursuing similar plans since 2025, primarily in high-tech sectors such as information technology and advanced equipment manufacturing [3][4] - Analysts suggest that spin-offs can provide subsidiaries with more accurate valuations, broaden financing channels, enhance operational specialization, and improve market competitiveness, while also allowing parent companies to focus on their core businesses [4]

Core Viewpoint - As of November 27, a total of 153 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more, indicating strong investor interest in these stocks [1] Group 1: Stocks with Significant Net Buying - The stocks with the longest consecutive net buying days are Aucma and Beijing-Shanghai High-Speed Railway, both having received net buying for 13 consecutive trading days [1] - Other notable stocks with significant net buying days include Source Pet, Zhenjiang Co., San Da Membrane, CRRC Corporation, Hangxiao Steel Structure, Zhongyuan Highway, Parker New Materials, and Guomao Co. [1]

Core Viewpoint - China CNR Corporation is planning a spin-off that requires approval from shareholders and compliance with regulatory procedures, aiming to enhance focus on core business areas and accelerate transformation into a "manufacturing + service" provider [2] Group 1: Company Overview - China CNR Corporation is a leading global supplier of rail transit equipment, maintaining the largest sales scale in the industry for several consecutive years [2] - The company has a market capitalization exceeding 200 billion yuan since its listing in 2008 [2] Group 2: Impact of Spin-off - The spin-off is expected to strengthen the capital base and business development capabilities of CRRC Qishuyan Research Institute, enhancing overall market competitiveness and positively impacting future profitability [3] - Post-spin-off, China CNR Corporation will remain the controlling shareholder of CRRC Qishuyan, with the State-owned Assets Supervision and Administration Commission as the actual controller [4] Group 3: Financial Performance - According to unaudited financial data, CRRC Qishuyan is projected to achieve a net profit of 308 million yuan in 2024 [4] Group 4: Industry Trends - The trend of spin-off listings is gaining momentum, with nearly 30 A-share listed companies pursuing similar plans since 2025, primarily in high-tech industries such as information technology and advanced equipment manufacturing [5]

Core Viewpoint - China CNR Corporation Limited plans to spin off its subsidiary, CRRC Qichun Locomotive and Rolling Stock Technology Research Institute Co., Ltd., for listing on the Shenzhen Stock Exchange's Growth Enterprise Market, which is deemed commercially reasonable, necessary, and feasible by the board of directors [2][4]. Group 1: Meeting Details - The fourth meeting of the fourth board of directors was held on November 27, 2025, in Beijing, with 7 out of 8 directors present [1]. - The meeting was chaired by Chairman Sun Yongcai, and all resolutions were passed with unanimous consent [3][28]. Group 2: Spin-off Proposal - The board approved the proposal for the spin-off of CRRC Qichun, which will be listed on the Shenzhen Stock Exchange's Growth Enterprise Market [2][6]. - The spin-off is in compliance with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [4][18]. Group 3: Listing Details - The shares to be issued will be ordinary shares (A-shares) with a par value of 1.00 RMB [9][8]. - The issuance will target qualified investors and will be conducted through a combination of strategic placements and public offerings [11][12]. Group 4: Governance and Compliance - The board confirmed that the spin-off will maintain the independence and ongoing viability of the company [20]. - The subsidiary has established necessary governance structures, including a board of directors and audit committees, ensuring compliance with regulatory requirements [20][21]. Group 5: Authorization and Next Steps - The board proposed to seek shareholder approval to authorize the board and its representatives to handle all matters related to the spin-off [22][24]. - The authorization will last for 24 months from the date of shareholder approval [24].