EF001 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國鐵建高新裝備股份有限公司 | | 股份代號 | 01786 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年12月31日止年度之末期股息 | | 公告日期 | 2026年3月27日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 0.029 RMB | | 股東批准日期 | 有待公佈 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | HKD， 金額有待公佈 | | 匯率 | 有待公佈 | ...

Financial Performance - For the fiscal year ending December 31, 2025, the company reported a revenue of RMB 3,436.86 million, representing a year-on-year increase of 10.17%[8]. - The net profit attributable to the parent company for 2025 was RMB 143.89 million, reflecting a year-on-year growth of 12.24%[5]. - The gross profit for 2025 was RMB 599.53 million, slightly up from RMB 596.16 million in 2024, with a gross margin of 17.44%, down from 19.11%[13]. - Pre-tax profit for 2025 increased to RMB 150.85 million, up 7.36% from RMB 140.51 million, driven by market expansion and internal management improvements[22]. - Profit attributable to owners for 2025 was RMB 143.89 million, an increase of 12.24% from RMB 128.21 million, reflecting market expansion and cost efficiency[26]. - Basic earnings per share rose from RMB 0.08 to RMB 0.09 for the year ending December 31, 2025[28]. - The company reported a net profit attributable to shareholders of RMB 143,893,811.20 for the fiscal year ending December 31, 2025[138]. - The company plans to distribute cash dividends amounting to RMB 44,076,636.00, which is RMB 0.029 per share, based on a total share capital of 1,519,884,000 shares[140]. - The company expects to allocate approximately 20% to 40% of its distributable profits as cash dividends annually, subject to various factors including operational performance and capital needs[138]. Assets and Liabilities - The company's total assets as of December 31, 2025, amounted to RMB 9,352.86 million, an increase from RMB 9,150.88 million in 2024[4]. - The total liabilities as of December 31, 2025, were RMB 3,144.04 million, compared to RMB 3,076.60 million in 2024[4]. - The company's leverage ratio decreased from 19.07% in 2024 to 13.48% in 2025, indicating improved capital management[38]. - The company has no short-term or long-term borrowings as of December 31, 2025[161][162]. Revenue Sources - The sales revenue from maintenance machinery increased by RMB 325.82 million, a growth of 36.75% compared to the previous year[11]. - The sales revenue from railway line maintenance services rose by RMB 40.16 million, marking a 23.45% increase year-on-year[11]. - The company experienced a decline in machinery equipment sales, which totaled RMB 776.36 million, down 24.76% from the previous year[9]. - Revenue from sales and services to China National Railway Group and its subsidiaries accounted for approximately 71.11% of the total revenue for the year[167]. - Sales and services provided to the top five customers represented about 27.19% of the company's total revenue[167]. Expenses and Cost Management - Other income for 2025 decreased to RMB 21.66 million, down 50.65% from RMB 43.89 million in the previous year, primarily due to reduced VAT tax incentives and government subsidies[14]. - Sales expenses for 2025 were RMB 109.79 million, a decrease of 7.91% from RMB 119.22 million, attributed to enhanced internal management and cost reduction efforts[15]. - Administrative expenses for 2025 amounted to RMB 137.69 million, down 19.49% from RMB 171.02 million, also due to improved internal management and cost efficiency initiatives[16]. - Research and development expenses for 2025 were RMB 212.18 million, a decrease of 10.83% from RMB 237.95 million, resulting from personnel adjustments and reduced material costs[17]. - Financial income for 2025 was RMB 14.34 million, down 53.88% from RMB 31.09 million, mainly due to currency exchange rate fluctuations[18]. Corporate Governance - The company continues to enhance its corporate governance system, focusing on risk management and internal controls to improve management efficiency[55]. - The board of directors has reviewed and confirmed compliance with corporate governance codes, ensuring alignment with shareholder interests[56]. - The company emphasizes the importance of corporate governance and has established mechanisms to ensure independent opinions are communicated to the board[70]. - The board consists of 9 members, including 3 independent non-executive directors, ensuring a balanced governance structure[68]. - The company has adopted a standard code for securities trading by directors and supervisors, confirming compliance during the reporting period[65]. - The board is responsible for formulating the company's overall development strategy and reviewing business performance, including financial statement preparation and audit[76]. - The board has established specialized committees, including the Strategy and ESG Committee, Audit and Risk Management Committee, Nomination Committee, and Remuneration and Assessment Committee, to provide recommendations for board decisions[81]. Management and Leadership Changes - The company has appointed a new executive director and chairman, Tong Pujiang, who has 26 years of experience in railway machinery maintenance[47]. - The new general manager, Xiang Daqiang, has a background in civil engineering and has held various leadership roles in the industry[47]. - The company has a new non-executive director, Lü Jing, who has extensive experience in bridge engineering and project management[49]. - The company has appointed Xie Huagang as a non-executive director, who has a strong background in strategic planning and securities affairs[49]. - Wu Yuntian has been serving as an independent non-executive director since October 2022, with a career spanning various engineering and management roles in the railway sector[49]. Risk Management - The company has established a comprehensive risk management and internal control system, ensuring effective prevention of significant risk events[125]. - The board of directors is responsible for the establishment and effective implementation of the risk management and internal control system, conducting annual reviews of its effectiveness[127]. - The company has strengthened its risk management system, enhancing mechanisms for risk assessment, analysis, and control, leading to improved operational management and resilience against internal and external changes[128]. - The Audit and Risk Management Committee, consisting of three independent non-executive directors, oversees external audit appointments and internal audit systems[87]. Shareholder Relations - The company emphasizes effective communication with shareholders to strengthen investor relations and attract investments[134]. - The company has committed to continuous improvement in investor relations management to enhance communication quality[136]. - The company has established a management system for insider information to ensure timely handling and disclosure, protecting investors' rights[128]. Employee and Compensation - The company employed a total of 1,825 full-time employees as of December 31, 2025[183]. - Total employee compensation for the year 2025, including salaries and benefits, was approximately RMB 458.44 million[183]. - The total number of senior management members with a salary of RMB 500,000 or more is 8, with 6 earning between RMB 500,000 and RMB 1,000,000 and 2 earning below RMB 500,000[118]. Compliance and Regulatory Matters - The company emphasizes compliance with major laws and regulations affecting its operations, including the Railway Law and safety management regulations[149][150]. - The company is closely monitoring legislative developments in its industry to ensure compliance and adapt to any changes[149]. - The company has maintained compliance with the minimum public float requirements as of the reporting date[190]. Strategic Initiatives - The company aims to enhance its core competitiveness and drive high-quality development through innovation and reform initiatives in the upcoming fiscal year[6]. - The company aims to become a world-class modern enterprise, leading the railway large-scale maintenance machinery industry in China and ranking second globally[60]. - The company is focusing on high-end, intelligent, green, precise, digital, and international transformation to enhance efficiency and effectiveness indicators in large-scale maintenance machinery[60]. - The company plans to expand its new track industry and increase the proportion of overseas business[60]. - The company is committed to overcoming key technologies and breaking through industrial bottlenecks to improve comprehensive strength and innovation capabilities[60].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 因 本 公 告 全 部 或 任 何 部 份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 中 國 鐵 建 高 新 裝 備 股 份 有 限 公 司（「本公司」）之 董 事 會（「董事會」）謹 此 公 佈，將 於 二 零二六年三月二十七日（星期五）舉行董事會會議，以考慮及通過議案，其中包括本 公司及其附屬公司截至二零二五年十二月三十一日止年度的末期業績及考慮派付 末期股息，如有。 承董事會命 中國鐵建高新裝備股份有限公司 董事長 童普江 中國昆明，二零二六三月三日 於 本 公 告 日 期，本 公 司 董 事 會 包 括 執 行 董 事 童 普 江 先 生、向 大 強 先 生 及 陳 永 祥 先 生；非執行董事呂晶先生及謝華剛先生；獨立非執行董事吳雲天先生、納鵬傑先生 及朱晴女士；以及職工董事莫斌先生。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1786） 董事會會議通告 ...

FF301 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: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國鐵建高新裝備股份有限公司 呈交日期: 2026年3月2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) | 01786 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 531,900,000 | RMB | | 1 RMB | | 531,900,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 531,900,000 | RMB | | 1 RMB | | 531,900,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類 ...

Group 1 - The core viewpoint of the report is that the state-owned "three assets" reform (resources, assets, and funds) is driving a revaluation of state-owned enterprises, with a focus on mergers and acquisitions and the injection of quality assets [1] - China Railway Equipment (01786.HK) is expected to benefit indirectly from the deepening reforms leading to industry consolidation and asset securitization opportunities [1] - The current institutional target average price for China Railway Equipment is HKD 0.79, which is lower than the latest price of HKD 0.90 [1] Group 2 - In the past week (as of February 23, 2026), trading for China Railway Equipment has been light, with a closing price of HKD 0.90 on February 20, unchanged from the previous day, and a trading volume of approximately HKD 505,600, resulting in a turnover rate of 0.11% [2] - The technical analysis indicates that the stock price is in a sideways trend, with the MACD histogram slightly turning positive, but liquidity remains low [2] - The rail and train equipment sector has seen a 2.01% increase during the same period, while the Hang Seng Index rose by 2.44% [2] Group 3 - Since February 2026, favorable policies in the infrastructure sector have emerged, including an accelerated issuance of special bonds totaling CNY 697 billion by mid-February, which is an increase of CNY 427.8 billion year-on-year [3] - Shanghai has announced a major engineering investment plan of CNY 255 billion for the year, which may indirectly support the demand for rail transit equipment, although no specific projects for China Railway Equipment have been mentioned [3]

Group 1: Company Governance - The company held a special shareholders' meeting on December 4, 2025, to elect the fourth board of directors, with Mr. Tong Pujiang appointed as chairman, indicating a potential shift in the company's strategic direction [1] Group 2: Business Development - In December 2025, the company successfully launched and exported its first set of railway maintenance equipment to Thailand, including tamping and stabilizing vehicles, as well as nine contact network maintenance vehicles to Uzbekistan, marking progress in international business expansion [2] Group 3: Company Status - As of January 5, 2026, the company's H-shares and domestic shares remained unchanged, with a total registered capital of 1.52 billion yuan, and the shareholding structure has not changed [3] Group 4: Industry Chain Status - On February 10, 2026, the parent company, China Railway Construction (601186), announced winning bids for 10 major projects, each exceeding 1.5 billion yuan, totaling 45.142 billion yuan, which may benefit the company due to increased railway infrastructure investment demand [4]

FF301 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: 2026年1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: 中國鐵建高新裝備股份有限公司 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) 01786 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 531,900,000 0 531,900,000 增加 / 減少 (-) 本月底結存 531,900,000 0 531,900,000 呈交日期: 2026年2月2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) | 01786 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | ...

FF301 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12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: 中國鐵建高新裝備股份有限公司 呈交日期: 2026年1月5日 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01786 | 說明 | | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 531,900,000 | | 0 | | 531,900,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 531,900,000 | | 0 | | 531,900,000 | | 2 ...

Market Overview - The US CPI annual rate decline has led to a rise in US stocks, boosting risk market sentiment [1] - The Hang Seng Index opened higher and closed up 0.75%, with the Hang Seng China Enterprises Index and Hang Seng Tech Index rising by 0.68% and 1.12% respectively [1][2] Sector Performance - Major technology stocks saw collective gains, with Tencent up 1.49%, Kuaishou up 1.45%, and Meituan up 1.28% [4] - Pharmaceutical stocks were active, with WuXi AppTec and other related stocks rising [2] - Gaming stocks continued to rise, with MGM China leading with a 6.6% increase [2][5] - AI-driven demand boosted optical fiber and cable stocks, with Yangtze Optical Fiber rising 12% [2] - Automotive, wind power, education, photovoltaic, insurance, and Apple-related stocks also experienced gains [2] Notable Stock Movements - Xpeng Motors rose 7.65%, Horizon Robotics up 7.04%, and Li Auto up 3.81% [4][10] - Electronic cigarette stocks saw significant increases, with China Tobacco Hong Kong up 6.68% [5] - Chinese brokerage stocks rose, with China International Capital Corporation up over 4% [7] - Intelligent driving concept stocks surged, with Youjia Innovation up 31.22% [8] Weak Performers - Heavy machinery stocks faced declines, with China National Heavy Duty Truck Group down over 6% [13] - Gold and precious metal stocks were weak, with several companies experiencing declines of over 2% [16] - Oil stocks also fell, with China Petroleum & Chemical Corporation down 1.52% [15] Capital Flows - Southbound funds recorded a net purchase of HKD 3.371 billion, with net selling from Shanghai-Hong Kong Stock Connect and net buying from Shenzhen-Hong Kong Stock Connect [18] Market Outlook - CITIC Securities suggests that after a strong performance in September, Hong Kong stocks are undergoing a mid-term adjustment, with quality assets entering a high-value zone [18]

Core Viewpoint - China Railway Construction High-tech Equipment Co., Ltd. has successfully completed the export of large railway maintenance machinery to Uzbekistan and Thailand, marking significant milestones in international cooperation and technological innovation in railway maintenance equipment [1][2] Group 1: Export Achievements - A batch of nine large railway maintenance machines was exported to Uzbekistan, representing the largest scale of such exports from China to the country [1] - The first complete set of large railway maintenance machinery was exported to Thailand, consisting of four machines that form a complete construction loop system [2] Group 2: Technological Innovations - The contact network three-platform maintenance vehicle for Uzbekistan was customized to meet local operational environments and standards, featuring an innovative design that improves operational efficiency by over 30% [1] - The equipment for Thailand was adapted to the specific 1000mm gauge requirements, significantly reducing axle weight and enhancing the vehicle's ability to navigate bridges and tight curves [2] Group 3: Strategic Implications - The successful export of railway maintenance equipment is expected to strengthen cooperation between China and Central and Southeast Asian countries in the railway sector [2] - The advancements in railway maintenance technology contribute to enhancing operational efficiency and safety in railway operations, promoting regional economic and social integration [2]