Core Viewpoint - The completion of the Serbia section of the Hungary-Serbia high-speed railway marks a significant technological advancement and deepens cooperation between China and Serbia in the field of connectivity [2][4]. Group 1: Technological Innovation - The Serbia section of the Hungary-Serbia railway, spanning 183.1 kilometers with a design speed of 200 km/h, is the first modern high-speed railway constructed by Chinese enterprises in Europe [2][3]. - The railway employs a train control system developed by China Railway Signal & Communication Corporation, which meets European interoperability requirements while accommodating Serbia's existing train operations [2][4]. - The control center features a centralized dispatch system that enhances operational efficiency and safety, transforming the management of the railway from a manual to a digital system [3][5]. Group 2: Training and Collaboration - Initial training for Serbian engineers was limited, leading to a shift towards on-site teaching, which proved more effective in imparting technical knowledge [4][5]. - The collaboration involved overcoming language barriers and adapting to local standards, resulting in the establishment of three national standards for train control, interlocking, and dispatch systems in Serbia [4][5]. - The project has fostered a strong partnership between Chinese and Serbian engineers, enhancing mutual understanding and trust through hands-on experience [5]. Group 3: Safety and Modernization - The modernization of the railway includes comprehensive safety measures such as video surveillance, access control, intrusion alarms, and automatic fire extinguishing systems [3]. - The transition from outdated equipment to modern systems has significantly improved the speed, precision, and safety of railway operations in Serbia [3]. Group 4: Cultural Exchange - The project has not only focused on technical aspects but also on building interpersonal relationships and cultural understanding between Chinese and Serbian teams [5]. - The role of translators has been crucial in facilitating communication and fostering a collaborative environment, contributing to the overall success of the project [5].

Group 1 - China Communications Signal Co., Ltd. (03969.HK) received an increase in shareholding from China Post Life Insurance Co., Ltd. on November 21, 2025, with the purchase of 1,158,000 shares at an average price of HKD 3.4517 per share, totaling approximately HKD 3.9971 million [1] - Following this transaction, China Post Life Insurance's total shareholding in China Communications Signal Co., Ltd. rose to 119,120,000 shares, increasing its ownership percentage from 5.99% to 6.05% [1][2]

Core Insights - China Railway Signal & Communication Corporation announced winning a total of ten significant projects scheduled between September and October 2025, with five projects in the railway market and five in the urban rail transit market [1] Group 1 - The company secured contracts for five important projects in the railway sector [1] - The company also won five projects in the urban rail transit sector [1]

Core Viewpoint - China Communications Signal (03969) has won ten significant projects from September to October 2025, with a total bid amount of approximately RMB 25.39 billion, which is about 7.82% of the company's audited revenue for 2024 under Chinese accounting standards [1][2]. Group 1: Railway Market Projects - The company secured five major projects in the railway market, including: - New construction of the Sichuan-Tibet Railway Ya'an to Kangding section "Four Electrifications" project with a bid amount of RMB 388 million [1] - Procurement project for the 350 km/h Fuxing Hao high-speed train's onboard equipment (CTCS-3 level train control system) with a bid amount of RMB 363 million [1] - Beijing suburban railway Northeast Ring Line project with a bid amount of RMB 254 million [1] - Communication engineering for the Jingguang High-speed Railway Wuhan-Guangzhou section with a bid amount of RMB 124 million [1] - Chengdu urban railway public transport renovation phase II project with a bid amount of RMB 106 million [1] Group 2: Urban Rail Transit Projects - The company also won five significant projects in the urban rail transit market, including: - Signal system integration project for Shanghai Metro Line 1 with a bid amount of RMB 551 million [1] - Mexico City STE light rail project with a bid amount approximately RMB 309 million [1] - Signal system installation project for Shanghai Metro Line 1 with a bid amount of RMB 189 million [1] - Signal system procurement project for the west extension of Shanghai Metro Line 12 with a bid amount of RMB 153 million [1] - Safety enhancement project for Changchun Metro Lines 3 and 4 with a bid amount of RMB 102 million [1]

Core Viewpoint - China Communications Signal Company (China Tonghao) has won ten significant projects between September and October 2025, with a total bid amount of approximately RMB 25.39 billion, which represents about 7.82% of the company's audited revenue for 2024 under Chinese accounting standards [1][2]. Group 1: Railway Market Projects - The company secured five important projects in the railway market, including: - New construction of the Sichuan-Tibet Railway Ya'an to Kangding section, with a bid amount of RMB 388 million [1] - Procurement of onboard equipment for the CRH350 km/h Fuxing train, with a bid amount of RMB 363 million [1] - Northeast Ring Line project of Beijing Suburban Railway, with a bid amount of RMB 254 million [1] - Communication engineering for the Wuhan-Guangzhou High-speed Railway, with a bid amount of RMB 124 million [1] - Chengdu Urban Rail Transit Phase II project, with a bid amount of RMB 106 million [1] Group 2: Urban Rail Transit Projects - The company also won five significant projects in the urban rail transit market, including: - Signal system integration project for Shanghai Metro Line 1, with a bid amount of RMB 551 million [1] - Mexico City STE light rail project, with a bid amount approximately RMB 309 million [1] - Signal system installation project for Shanghai Metro Line 1, with a bid amount of RMB 189 million [1] - Signal system procurement for the west extension of Shanghai Metro Line 12, with a bid amount of RMB 153 million [1] - Safety enhancement project for Changchun Metro Lines 3 and 4, with a bid amount of RMB 102 million [1]

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 不對因本公告全部或任何部分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。 中 國 鐵 路 通 信 信 號 股 份 有 限 公 司 China Railway Signal & Communication Corporation Limited* （在中華人民共和國註冊成立的股份有限公司） （股份代號：3969） 軌道交通市場重要項目中標公告 2025年9月 至10月，本 公 司 共 中 標 十 個 重 要 項 目，其 中 在 鐵 路 市 場 中 標 五 個 重 要 項 目，分 別 為 新 建 川 藏 鐵 路 雅 安 至 康 定 段 站 後「四 電」及 相 關 工 程CZRDJC-1標 段 項 目，中 標 金 額 人 民 幣3.88億 元；時 速350公里復興 號 動 車 組 配 套 電 務 車 載 設 備（CTCS-3級 列 控 系 統 車 載 設 備）採 購 項 目， 中標金額人民幣3.63億 元；北 京 ...

Core Viewpoint - China Railway Signal & Communication Corporation Limited (China Tonghao) announced the disclosure of its Q3 2025 report on October 29, 2025, and plans to hold a performance briefing on December 2, 2025, to address investor concerns [1] Group 1 - The company will provide a comprehensive overview of its Q3 2025 operational results and financial status during the briefing [1] - The performance briefing is scheduled for December 2, 2025, from 11:00 AM to 12:00 PM [1] - The purpose of the briefing is to facilitate communication regarding issues of interest to investors [1]

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 不對因本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。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條由中 國鐵路通信信號股份有限公司（「本公司」）作 出。 茲載列本公司在上海證券交易所網站刊登之《中國鐵路通信信號股份有 限公司 關 於 召 開2025年第三季度業績說明會的公告》，僅 供 參 閱。 承董事會命 中國鐵路通信信號股份有限公司 樓齊良 董事長 中 國，北 京 2025年11月25日 中 國 鐵 路 通 信 信 號 股 份 有 限 公 司 China Railway Signal & Communication Corporation Limited* （在中華人民共和國註冊成立的股份有限公司） （股份代號：3969） 於 本 公 告 日 期，本 公 司 執 行 董 事 為 樓 齊 良 先 生，本 公 司 獨 立 非 執 行 董 事 為 姚 桂 清 先 ...

Group 1 - China Post Life Insurance increased its stake in China National Railway Signal & Communication (China Tonghao) by 1.158 million shares at a price of HKD 3.4517 per share, totaling approximately HKD 3.9971 million [1] - Following the increase, China Post Life Insurance's total shareholding in China Tonghao reached approximately 119 million shares, representing a holding percentage of 6.05% [1]

Group 1 - Hong Kong Stock Exchange data shows that on November 21, China Post Life Insurance increased its stake in China Communication Construction Company (China Tonghao) by 1.158 million shares at a price of HKD 3.4517 per share, totaling approximately HKD 3.9971 million [1] - After the increase, China Post Life Insurance holds approximately 119 million shares, representing a 6.05% stake in China Communication Construction Company [1]