近一周（截至2026年2月23日），铁建装备（01786.HK）交易清淡，仅2月20日有成交记录：当日收盘 价0.90港元，持平前日，成交额约50.56万港元，换手率0.11%。技术面显示股价处于横盘状态，MACD 柱状图微幅转正，但流动性较低。所属的轨道与列车设备板块同期上涨2.01%，恒生指数上涨2.44%。 以上内容基于公开资料整理，不构成投资建议。 经济观察网 中信建投证券于2026年2月23日发布研报指出，国有"三资"改革（资源、资产、资金）正推 动国企价值重估，重点关注国企并购重组、优质资产注入等领域。铁建装备作为轨道交通设备国企，可 能间接受益于改革深化带来的行业整合与资产证券化机会。当前机构目标均价为0.79港元，低于最新价 0.90港元。 近期事件 机构观点 2026年2月以来，基建领域政策利好频出：专项债发行进度加快（截至2月中旬发行6970亿元，同比多增 4278亿元），上海公布年度重大工程投资2550亿元计划。这些举措可能间接支撑轨道交通设备需求，但 未直接提及铁建装备具体项目。 ...

经济观察网铁建装备(01786.HK)作为中国铁路大型养路机械领域的领先企业，近期有以下事件值得关 注： 公司高层选举 2025年12月4日，公司举行临时股东大会，选举产生第四届董事会，童普江先生当选董事长，管理层团 队同步调整。这一治理结构变化可能影响公司未来战略方向。 业务进展情况 2025年12月，公司成功下线并出口泰国首套铁路养护装备(包括捣固车、稳定车等)及乌兹别克斯坦9台 接触网检修作业车，标志着国际业务拓展取得进展。 公司状况 根据2026年1月5日披露的证券变动月报表，公司H股和内资股数量均无变化，法定注册资本总额为15.20 亿元，股权结构未发生变动。 产业链状况 中国铁建（601186）(母公司)于2026年2月10日公告中标10个单体金额超15亿元的重大项目，合计451.42 亿元，作为产业链关联企业，铁建装备可能受益于铁路基建投资需求。 以上内容基于公开资料整理，不构成投资建议。 ...

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]

Core Viewpoint - The company has announced the election of new members to its fourth board of directors during an extraordinary general meeting, indicating a significant leadership transition and continuity in management roles [1] Group 1: Board Elections - Mr. Tong Pujiang, Mr. Xiang Daqiang, and Mr. Chen Yongxiang have been elected as executive directors of the fourth board of directors [1] - Mr. Lü Jing and Mr. Xie Huagang have been elected as non-executive directors of the fourth board [1] - Mr. Wu Yuntian, Mr. Na Pengjie, and Ms. Zhu Qing have been elected as independent non-executive directors of the fourth board [1] Group 2: Management Changes - Following the extraordinary general meeting, Mr. Mo Bin will no longer serve as an executive director but will be elected as an employee director, effective from the date of the employee representative assembly election [1] - The first meeting of the fourth board of directors will be held on December 4, 2025, where Mr. Tong Pujiang will be elected as the chairman [1] - The board has approved the reappointment of Mr. Xiang Daqiang as general manager, Mr. Chen Yongxiang as deputy general manager, and several other key management positions [1]

根据公司的发展需要，经公司于2025年12月4日举行的第四届董事会第一次会议审议通过，同意聘任向 大强先生续任总经理、陈永祥先生续任副总经理、秦学合先生续任总会计师、周慧鹏先生续任副总经理 及总工程师、李果先生续任副总经理、杨琢先生续任副总经理、李万清先生续任董事会秘书。 于临时股东会结束后，莫斌先生(莫先生)不再担任公司执行董事。公司职工代表大会选举莫先生担任公 司第四届董事会职工董事，任期自职工代表大会选举日期起生效，与公司第四届董事会任期一致。 第四届董事会第一次会议于2025年12月4日举行，会议选举执行董事童普江先生为第四届董事会董事 长，任期自本次董事会选举之日起至第四届董事会任期届满之日止。 智通财经APP讯，铁建装备(01786)发布公告，于临时股东会上，童普江先生、向大强先生、陈永祥先生 已获选举为公司第四届董事会执行董事，吕晶先生、谢华刚先生已获选举为公司第四届董事会非执行董 事，吴云天先生、纳鹏杰先生、朱晴女士已获选举为公司第四届董事会独立非执行董事。 ...

Core Viewpoint - The company, 铁建装备 (China Railway Construction Equipment), has announced the election of its fourth board of directors during a temporary shareholders' meeting, indicating a significant governance change and leadership structure for future operations [1] Group 1: Board Elections - Tong Pujiang, Xiang Daqiang, and Chen Yongxiang have been elected as executive directors of the fourth board of directors [1] - Lü Jing and Xie Huagang have been elected as non-executive directors of the fourth board [1] - Wu Yuntian, Na Pengjie, and Zhu Qing have been elected as independent non-executive directors of the fourth board [1] Group 2: Board Meeting and Leadership - The first meeting of the fourth board of directors is scheduled for December 4, 2025 [1] - Executive director Tong Pujiang has been elected as the chairman of the fourth board of directors, with a term starting from the date of this election until the end of the fourth board's term [1]

附註： 委員會 董 事 戰略與ESG 委員會 審計與風險 管理委員會 提名委員會 薪酬與考核 委員會 執行董事 童普江 （董事長） C M M 向大強 （總經理） 陳永祥 非執行董事 呂 晶 M 謝華剛 M 獨立非執行董事 吳雲天 M M C 納鵬傑 M C M 朱 晴 M M C 職工董事 莫 斌 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1786） 董事名單與角色和職能 中國鐵建高新裝備股份有限 公 司（「本公司」）董 事 會（「董事會」）成 員及其各自於 董 事會及董事會委員會的角色及職能載列如下： C： 相 關董事會委員會主 席 M： 相 關董事會委員會成 員 中國昆明，2025年12月4日 ...