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: 重新提交 致：香港交易及結算所有限公司 公司名稱: 重慶機電股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,584,452,684 | RMB | | 1 | RMB | | 2,584,452,684 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | | | 本月底結存 | | | 2,584,452,684 | RMB | | 1 | RMB | | 2,584,452,684 | | 2. ...

Core Viewpoint - The power generation business is becoming the largest growth engine for the internal combustion engine industry, driven by the dual forces of data center construction and global power shortages [1] Industry Summary - There is a significant increase in demand for generator sets for data centers, with the global market capacity expected to reach 23,000 units by 2030 due to AI development and digital infrastructure expansion [1] - Cummins has announced its 2030 strategy, predicting that the global market size for large-bore diesel generators will reach $12 billion by 2030 [1] Company Summary - Chongqing Machinery and Electric Group, under the Chongqing State-owned Assets Supervision and Administration Commission, has core businesses including turbines, wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools [1] - The company holds stakes in Chongqing Cummins and Chongqing Hitachi Energy, with Chongqing Cummins being the only large-bore engine enterprise in China, benefiting from the growth of large-bore engines and data centers [1] - Chongqing Hitachi Energy primarily produces transformers rated at 220kV and above, benefiting from the construction of overseas high-voltage power grids [1] - Chongqing Cummins and Chongqing Hitachi Energy are expected to have high growth certainty in the coming years, while the main business is gradually entering a profit release phase as impairments decrease [1]

Core Viewpoint - The power generation business is becoming the largest growth engine for the internal combustion engine industry, driven by the dual forces of data center construction and global electricity shortages [1] Industry Summary - The demand for generator sets in data centers is experiencing a sharp increase, with the global market capacity expected to reach 23,000 units by 2030 due to the expansion of digital infrastructure and AI development [1] - Cummins has announced its 2030 strategy, indicating that power generation will be the largest growth point for its traditional business, with the global market size for large-bore diesel generators projected to reach $12 billion by 2030 [1] Company Summary - Chongqing Machinery and Electric Group, under the Chongqing State-owned Assets Supervision and Administration Commission, has core businesses including turbines, cables, gas compressors, industrial pumps, wind turbine blades, and machine tools [1] - The company holds stakes in Chongqing Cummins and Chongqing Hitachi Energy, with Chongqing Cummins being the only large-bore engine enterprise in China, benefiting from the growth of large-bore engines and data centers [1] - Chongqing Hitachi Energy primarily produces transformers rated at 220kV and above, benefiting from the construction of overseas high-voltage power grids [1] - The company is expected to see high growth certainty in Chongqing Cummins and Chongqing Hitachi Energy in the coming years, while its main business is gradually entering a profit release phase as impairments decrease [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: 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: 重慶機電股份有限公司 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 | 不適用 | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,584,452,684 | RMB | | 1 RMB | | 2,584,452,684 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 2,584,452,684 | RMB | | 1 RMB | | 2,584,452,684 | | 2. 股份分類 | 普通股 | 股份類別 | ...

每经AI快讯，重庆机电(02722.HK)涨超4%，截至发稿，涨4.37%，报2.39港元，成交额1901.09万港元。 ...

Core Viewpoint - Chongqing Machinery and Electric Co., Ltd. (02722) has seen a stock increase of over 4%, currently trading at 2.39 HKD with a transaction volume of 19.01 million HKD, following the release of a new plan by the Chongqing State-owned Assets Supervision and Administration Commission to enhance the technological innovation capabilities of state-owned enterprises [1] Group 1: Company Overview - Chongqing Machinery and Electric is primarily owned by Chongqing Holdings Group, holding 58.52% of the shares [1] - The company is part of the Chongqing State-owned Assets Supervision and Administration Commission and focuses on equipment-related businesses, including water turbines, electrical wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools [1] Group 2: Growth Potential - The company has significant growth certainty in its subsidiaries, Chongqing Cummins and Chongqing Hitachi Energy, over the next few years [1] - Chongqing Cummins is the only large-bore engine manufacturer for Cummins in China, producing various engine models, and is actively expanding its production capacity due to industry supply constraints [1] - The demand for high-horsepower engines in data centers and other sectors is expected to continue growing in the coming years [1]

Core Viewpoint - Chongqing Machinery and Electric Co., Ltd. (02722) has seen a stock price increase of over 4%, currently trading at HKD 2.39 with a transaction volume of HKD 19.01 million, following the release of a new innovation plan by the Chongqing State-owned Assets Supervision and Administration Commission [1] Group 1: Company Overview - Chongqing Machinery and Electric is primarily owned by Chongqing Holdings Group, holding 58.52% of the shares [1] - The company is part of the Chongqing State-owned Assets Supervision and Administration Commission and focuses on equipment-related businesses, including water turbines, electrical wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools [1] Group 2: Growth Potential - The company has significant growth potential through its subsidiaries, Chongqing Cummins and Chongqing Hitachi Energy, which are expected to experience high growth certainty in the coming years [1] - Chongqing Cummins is the only large-bore engine manufacturer for Cummins in China, producing various engine models and is actively expanding its production capacity due to industry supply constraints [1] - The demand for high-horsepower engines in data centers and other sectors is anticipated to continue growing in the next few years [1]

Core Viewpoint - The report from Industrial Securities initiates coverage on Chongqing Machinery and Electric Co., Ltd. (02722) with a "Buy" rating, highlighting strong growth potential from Chongqing Cummins and Chongqing Hitachi Energy in the coming years, alongside a gradual recovery in profitability as impairment decreases [1]. Group 1: Company Overview - Chongqing Machinery and Electric is a leading equipment manufacturing enterprise under the Chongqing State-owned Assets Supervision and Administration Commission, with a 58.52% stake held by Chongqing Holdings (Group) [1]. - The company's main business includes hydro turbines, electrical wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools, while also holding stakes in Chongqing Cummins and Chongqing Hitachi Energy [1]. Group 2: Financial Projections - The company is projected to achieve revenues of 8.92 billion yuan in 2024, representing a year-on-year growth of 10.7%, with a gross profit of approximately 1.555 billion yuan, up 5% [1]. - The net profit attributable to shareholders is expected to reach 431 million yuan in 2024, reflecting a significant year-on-year increase of 42% [1]. - Revenue forecasts for 2025, 2026, and 2027 are 9.678 billion yuan, 10.539 billion yuan, and 11.521 billion yuan, respectively, with net profits of 732 million yuan, 902 million yuan, and 1.019 billion yuan, leading to PE ratios of 9.82, 8.02, and 7.11 times [1]. Group 3: Business Segments - Chongqing Cummins is the only large-bore engine manufacturer in China, benefiting from the booming demand for large-bore engines and data centers, and is actively expanding production capacity [1]. - Chongqing Hitachi Energy specializes in producing transformers rated at 220kV and above, and is positioned to benefit from strong overseas demand for high-voltage power grid construction, with significant growth expected due to the National Grid's investment plan [2].

Group 1 - Core viewpoint: Industrial Securities initiates coverage on Chongqing Machinery and Electric (02722) with a "Buy" rating, highlighting strong growth potential from Chongqing Cummins and Chongqing Hitachi Energy, alongside a gradual recovery in profitability as impairments decrease [1] - Revenue projections: The company is expected to generate revenues of 9.678 billion, 10.539 billion, and 11.521 billion yuan in 2025, 2026, and 2027 respectively, with net profits of 732 million, 902 million, and 1.019 billion yuan [1] - Valuation metrics: Projected PE ratios for the years 2025, 2026, and 2027 are 9.82, 8.02, and 7.11 respectively [1] Group 2 - Company background: Chongqing Machinery and Electric is a leading equipment manufacturing enterprise under the Chongqing State-owned Assets Supervision and Administration Commission, with a 58.52% stake held by Chongqing Holdings [1] - Main business segments: The company’s core operations include hydro turbines, electrical wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools, along with stakes in Chongqing Cummins and Chongqing Hitachi Energy [1] - 2024 revenue forecast: The company anticipates a main business revenue of 8.92 billion yuan in 2024, representing a year-on-year growth of 10.7%, with a gross profit of approximately 1.555 billion yuan, up 5% [1] Group 3 - Chongqing Cummins: The company is the only large-bore engine manufacturer for Cummins in China, benefiting from the growth in large-bore engines and data centers, and is actively expanding production capacity [2] - Product range: Chongqing Cummins produces various engine models including QSN/NT, QSK19/K19, QSK38/K38, QSK50/K50, and QSK60 [2] Group 4 - Chongqing Hitachi Energy: This company is a major production base for high-voltage transformers (220kV and above) and is expected to benefit from strong overseas demand and the expansion of its production capacity [3] - Market opportunity: The company is poised to gain from the rapid growth in ultra-high voltage construction, supported by a significant investment plan from the State Grid [3]

Core Viewpoint - Chongqing Machinery and Electric Co., Ltd. (02722) has seen its stock price increase by over 4%, currently trading at HKD 2.34 with a transaction volume of HKD 8.3565 million, following the announcement of a new innovation plan by the Chongqing State-owned Assets Supervision and Administration Commission [1] Group 1: Innovation Plan Overview - The Chongqing State-owned Assets Supervision and Administration Commission has issued a plan to enhance the technological innovation capabilities of state-owned enterprises, outlining seven specific tasks for implementation [1] - The plan aims for a research and development expenditure growth rate of over 8% by 2026 for state-owned enterprises in Chongqing [1] - The initiative targets breakthroughs in over 30 key core technologies in strategic areas such as intelligent connected new energy vehicles and industrial mother machines [1] Group 2: Strategic Goals - The plan seeks to increase the proportion of output from strategic emerging industries of state-owned enterprises to over 35% of the total industrial output value [1] - It includes the implementation of over 100 "four-chain" integration projects and around 70 digital and "AI+" application scenarios to strengthen the role of technological innovation in industrial upgrading [1] Group 3: Key Measures - The plan outlines seven key measures, including enhancing the capabilities of differentiated and specialized innovation platforms [1] - Support will be provided for Chongqing Machinery Group and other enterprises to build high-level innovation platforms, with a goal of adding three new platforms to the national and city innovation platform "whitelist" by the end of 2026 [1] - The plan encourages state-owned enterprises to collaborate with universities and research institutions to form innovation alliances, aiming for a "zero breakthrough" in national high-level innovation platforms [1]