证券代码：600528 证券简称：中铁工业 编号：临 2026-001 中铁高新工业股份有限公司 2025 年主要经营数据 单位：万元 币种：人民币 | 地区分布 | 2025 年 | 2024 年 | 同比增减 | | --- | --- | --- | --- | | 境内 | 4,071,033 | 4,447,182 | -8.46% | | 境外 | 368,584 | 367,250 | 0.36% | | 合计 | 4,439,617 | 4,814,432 | -7.79% | 二、2025 年第四季度重大合同签约/中标情况 单位：万元 币种：人民币 暨第四季度重大合同签约/中标公告 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。 一、2025 年新签合同额情况 （一）按业务类型统计 单位：万元 币种：人民币 序 号 业务类型 2025 年 2024 年 同比增减 1 专用工程机械装备及相关服务业务 1,465,990 1,373,902 6.70% ① 隧道施工装备及相关服务业务 1,226,269 1,14 ...

Summary of Key Points Core Viewpoint - The announcement from China Railway Industry indicates a decline in new contract value for 2025, reflecting challenges in the market and potential impacts on future revenue growth [1] Group 1: Contract Value Overview - The new contract value for 2025 is reported at 44.396 billion yuan, representing a year-on-year decrease of 7.79% [1] - Breakdown of new contracts includes: - Specialized engineering machinery and related services: 14.66 billion yuan - Transportation equipment and related services: 27.383 billion yuan - Others: 2.353 billion yuan [1] Group 2: Domestic and International Contracts - Domestic contracts total 40.71 billion yuan, showing a year-on-year decline of 8.46% [1] - International contracts amount to 3.686 billion yuan, with a slight year-on-year increase of 0.36% [1] Group 3: Significant Contracts in Q4 - In the fourth quarter of 2025, the major contract signing/bidding amount is 2.532 billion yuan, which accounts for 8.73% of the revenue for 2024 [1]

Group 1 - The construction of the longest bridge on the Chengyu Middle Line High-Speed Railway, the Longquan Grand Bridge, was completed on January 26, after 150 hours of beam placement work [2] - The bridge spans 14 kilometers, starting from Longquan District in Chengdu and ending in Longtan Street, and features a 72-meter tied arch structure made of reinforced concrete weighing 6,000 tons [2] - The project utilized 24 high-precision hydraulic jacks with a rated lifting capacity of 600 tons each, along with a PLC intelligent hydraulic synchronization system to ensure precise and safe beam placement [2] Group 2 - The Chengyu Middle Line High-Speed Railway is a crucial part of China's "Eight Vertical and Eight Horizontal" high-speed rail network, with a total length of 292 kilometers and a design speed of 350 kilometers per hour [3] - As of now, 25 tunnels and 47 bridges have been completed in the Sichuan section of the Chengyu Middle Line, with the project expected to be completed and operational by 2027, reducing travel time between Chengdu and Chongqing to 50 minutes [3]

证券之星消息，1月27日轨交设备板块较上一交易日下跌0.56%，中铁工业领跌。当日上证指数报收于 4139.9，上涨0.18%。深证成指报收于14329.91，上涨0.09%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 688367 | 工大高科 | 36.63 | 7.89% | 4.63万 | 1.63亿 | | 300594 | 朗进科技 | 25.05 | 4.90% | 9.34万 | 2.27亿 | | 603680 | 今创集团 | 15.79 | 3.20% | 8.18万 | 1.27亿 | | 688015 | 交控科技 | 25.41 | 2.17% | 5.50万 | 1.39亿 | | 605298 | 必得科技 | 43.82 | 2.17% | 1.98万 | 8656.24万 | | 688485 | 九州一轨 | 22.39 | 2.14% | 6.34万 | 1.40亿 | | 301016 | 雷尔伟 | 25.82 | 1 ...

Group 1 - The article emphasizes the importance of integrity and accountability within the disciplinary inspection and supervision system, highlighting various innovative practices across different regions to enhance governance and political ecology [1][2][3] - Liaoning Province's disciplinary inspection commission is noted for its "supervision of supervision" approach, which aims to implement major decisions from the central government effectively [1][2] - The article discusses the establishment of various "clean" brands in different regions, such as "Clean Wind Cadres" and "Clean Wind Villages," to promote integrity in governance [2][3] Group 2 - The use of technology in enhancing the efficiency of disciplinary inspection work is highlighted, with examples of digital systems being implemented for better supervision and governance [3][4] - The article mentions the proactive measures taken by various local commissions to address issues affecting the business environment, such as slow or improper actions by officials [2][4] - The focus on continuous education and training for disciplinary inspection personnel is emphasized, with initiatives aimed at improving their capabilities and integrity [5]

Core Viewpoint - The successful completion of the "Shu'an" shield section of the Shu'an Tunnel marks a significant milestone for the Chengyu Central High-speed Railway, ensuring the project remains on schedule for completion and operation. Group 1: Project Details - The Shu'an Tunnel has a total length of 10,380 meters, utilizing both "shield tunneling and open-cut methods," with the shield section measuring 9,824 meters, making it the longest and largest diameter earth pressure balance shield tunnel in China [1][3] - The "Shu'an" shield machine has a diameter of 14.5 meters, a total length of 155 meters, and weighs approximately 3,300 tons, making it the largest diameter earth pressure balance shield machine currently in use in China [3] - The project team has developed an intelligent construction system that integrates smart devices and management platforms, enhancing the precision and efficiency of the tunneling process [5] Group 2: Construction Challenges and Innovations - The "Shu'an" shield machine successfully navigated over 30 critical structures, maintaining a strict settlement control precision of within 1 millimeter per instance, showcasing the complexity of the construction [3] - The project employs an intelligent driving system for the shield machine, achieving millimeter-level accuracy in tunneling, and utilizes a digital twin system for real-time data management and risk monitoring [5] - The goal of the project is to achieve a "three-no tunnel" standard, ensuring no damage, no leakage, and no misalignment during construction [5] Group 3: Project Significance and Timeline - The Chengyu Central High-speed Railway is a crucial part of the national "eight vertical and eight horizontal" high-speed rail network, with a total length of approximately 292 kilometers and a designed speed of 350 kilometers per hour [6] - The railway is expected to be completed and operational by 2027, with a potential maximum operational speed of 400 kilometers per hour, significantly reducing travel time between Chengdu and Chongqing to 50 minutes [6]

Market Performance - The rail transit equipment sector increased by 0.89% on January 22, with China Railway Materials leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Key Stocks in Rail Transit Equipment Sector - China Railway Materials (000927) closed at 2.95, up 10.07%, with a trading volume of 2.09 million shares and a transaction value of 603 million yuan [1] - Tianyi New Materials (688033) closed at 8.68, up 8.91%, with a trading volume of 435,200 shares and a transaction value of 369 million yuan [1] - China Communication Signal (600899) closed at 5.75, up 4.93%, with a trading volume of 1.04 million shares and a transaction value of 596 million yuan [1] Capital Flow Analysis - The rail transit equipment sector experienced a net outflow of 65.87 million yuan from institutional investors, while retail investors saw a net inflow of 99.28 million yuan [2] - The main stocks with significant capital flow include China Railway Materials, which had a net inflow of 14.5 million yuan from institutional investors, but a net outflow of 49.46 million yuan from retail investors [3] Individual Stock Performance - China Railway Materials had a significant increase in share price and trading volume, indicating strong market interest [1] - Other notable performers include China Communication Signal and Tianyi New Materials, both showing substantial price increases and trading activity [1]

Group 1 - The Chengda-Wan High-Speed Railway (成达万高铁) has entered the long rail storage phase, with the arrival of a train carrying 500-meter long steel rails at the Nanchong North laying base, laying the groundwork for subsequent track laying construction [1] - The Nanchong North laying base covers an area of approximately 52,000 square meters, with the first batch of 50 rails weighing a total of 1,500 tons, capable of laying 12.5 kilometers of track [1] - The use of 500-meter long rails significantly reduces track joints compared to traditional short rails, enhancing train operation stability and safety [1] Group 2 - The Chengda-Wan High-Speed Railway is a crucial part of China's "Eight Vertical and Eight Horizontal" high-speed rail network, stretching 477 kilometers from Chengdu to Wanzhou, with a design speed of 350 kilometers per hour [2] - Upon completion, the railway will provide a convenient passenger transport corridor from Chengdu to the Central Plains and Beijing-Tianjin-Hebei regions, playing a significant role in promoting the Chengdu-Chongqing economic circle and the development of the Yangtze River Economic Belt [2]

Market Overview - The rail transit equipment sector experienced a decline of 0.62% on January 16, with Bidu Technology leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Stock Performance - Notable gainers in the rail transit equipment sector included: - Gongda Gaoke (688367) with a closing price of 32.95, up 4.90% on a trading volume of 45,000 shares and a turnover of 146 million yuan [1] - Jiaoda Sino (300851) closed at 29.63, up 4.40% with a trading volume of 57,400 shares and a turnover of 174 million yuan [1] - Xianghe Industry (603500) closed at 12.96, up 3.43% with a trading volume of 87,000 shares and a turnover of 111 million yuan [1] Fund Flow Analysis - The rail transit equipment sector saw a net outflow of 79.08 million yuan from institutional investors, while retail investors experienced a net outflow of 75.46 million yuan [2] - Conversely, speculative funds recorded a net inflow of 155 million yuan [2] Individual Stock Fund Flow - China Railway Industry (600528) had a net inflow of 37.40 million yuan from institutional investors, but a net outflow of 34.22 million yuan from retail investors [3] - China Communication Signal (688009) saw a net inflow of 3.34 million yuan from institutional investors, while retail investors had a net outflow of 55.10 million yuan [3] - Xianghe Industry (603500) experienced a net inflow of 16.07 million yuan from institutional investors, with retail investors seeing a net outflow of 4.64 million yuan [3]

Core Viewpoint - The company has successfully upgraded its employee service space, transforming it into a multifunctional platform that supports relaxation, learning, and cultural exchange for employees [1][2] Group 1 - The upgraded employee space, referred to as "employee home," now serves as a "spiritual charging station" for workers, providing a comfortable environment with a variety of books for self-study and technical exchange [1] - The new design of the employee home includes a shared bookshelf with categorized books on skill enhancement, safety production, and party-building knowledge, making it convenient for employees to access [1] - The cultural wall displays team honors and policy spirit posters, fostering team consensus and serving as an "invisible classroom" for employees [1] Group 2 - The "rest + learning" design of the employee home complements the previously established worker station, which focuses on short-term rest needs and provides convenient supplies [2] - The employee home aims to meet diverse employee needs for learning, communication, and relaxation, effectively covering all-time service requirements [2] - The "four-person room" employee home at another division has also been renovated, maximizing the use of limited space for rest, storage, and communication, with improved furniture and ventilation [2]