"24铁YK05"在本计息年度的票面利率为2.23%，每手"24铁YK05"面值1000元派发利息为22.30元(含 税)。 智通财经APP讯，中国中铁(00390)发布公告，公司2024年面向专业投资者公开发行科技创新可续期公司 债券(第三期)(品种一)，简称"24铁YK05"，将于2025年8月15日开始支付自2024年8月15日至2025年8月 14日期间的利息。 ...

中国中铁(00390.HK)："24铁YK05"将于8月15日开始付息 中国中铁(601390.SH)：在专用牵引供电设备 等环节深度参与高速磁浮列车项目研究 相关事件 格隆汇8月11日丨中国中铁(00390.HK)发布公告，中国中铁股份有限公司于2024年8月15日发行了中国中 铁股份有限公司2024年面向专业投资者公开发行科技创新可续期公司债券(第三期)(品种一)(债券简称： 24铁YK05，债券代码：241444.SH)，并将于2025年8月15日开始支付自2024年8月15日至2025年8月14日 期间的利息。"24铁YK05"在本计息年度的票面利率为2.23%，每手"24铁YK05"面值1000元派发利息为 22.30元(含税)。 ...

"24铁YK05"在本计息年度的票面利率为2.23%，每手"24铁YK05"面值1000元派发利息为22.30元(含 税)。 中国中铁（601390）(00390)发布公告，公司2024年面向专业投资者公开发行科技创新可续期公司债券 (第三期)(品种一)，简称"24铁YK05"，将于2025年8月15日开始支付自2024年8月15日至2025年8月14日 期间的利息。 ...

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。 2025年8月11日 於本公告日期，本公司的執行董事為陳文健先生（董事長）及王士奇先生；本公司的非執 行董事為文利民先生及房小兵先生；本公司的獨立非執行董事為修龍先生、孫力實女士 及屠海鳴先生。 证券代码：601390.SH/0390.HK 证券简称：中国中铁 债券代码：241445.SH 债券简称：24 铁 YK06 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條而作出。 茲載列中國中鐵股份有限公司於2025年8月8日在上海證券交易所網站刊登的「中國中鐵股 份有限公司2024年面向專業投資者公開發行科技創新可續期公司債券（第三期）（品種二） 2025年付息公告」，僅供參閱。 承董事會命 中國中鐵股份有限公司 陳文健 董事長 中国中铁股份有限公司 2024 年面向专业投资者公开发行科技创 新可续期公司债券(第三期)(品种二)2025 年付息公告 本公司全体董事或具有同等职责的人员保证本公 ...

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。 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條而作出。 茲載列中國中鐵股份有限公司於2025年8月8日在上海證券交易所網站刊登的「中國中鐵股 份有限公司2024年面向專業投資者公開發行科技創新可續期公司債券（第三期）（品種一） 2025年付息公告」，僅供參閱。 承董事會命 中國中鐵股份有限公司 陳文健 董事長 2025年8月11日 证券代码：601390.SH/0390.HK 证券简称：中国中铁 债券代码：241444.SH 债券简称：24 铁 YK05 重要内容提示： 中国中铁股份有限公司（以下简称"公司"或"发行人"）于 2024 年 8 月 15 日 发行了中国中铁股份有限公司 2024 年面向专业投资者公开发行科技创新可续期 公司债券(第三期)(品种一)（以下简称"本期债券"），并将于 2025 年 8 月 15 日 开始支付自 2024 年 8 月 15 日至 2025 年 8 ...

行 业 报 告 行业点评 行 业 点 评 相关研究报告 【平安证券】行业动态跟踪报告*建材*雅下水电项目 开工，利好西藏水泥企业——建材洞察系列之三*强 于大市20250721 【平安证券】行业点评*建材*《农村公路条例》公 布，乡村基建持续推进*强于大市20250723 证券分析师 郑南宏 投资咨询资格编号 S1060521120001 ZHENGNANHONG873@pingan.com.cn 杨侃 投资咨询资格编号 S1060514080002 BQV514 YANGKAN034@pingan.com.cn 事项： 据财联社消息，近日，新藏铁路有限公司成立，法定代表人为马殷军，注册资 本950亿人民币，经营范围含建设工程施工、建设工程监理、铁路运输基础设 备制造、公共铁路运输、餐饮服务、住宿服务、房地产开发经营、旅游业务、 工程管理服务、对外承包工程、信息咨询服务等。股东信息显示，该公司由中 国国家铁路集团有限公司全资持股。 新藏铁路公司成立，重大基建工程相继启动 强于大市( 维持) 平安观点： 建材 2025年08月11日 证 券 | 州）新机场等45个重大项目。4月交通运输部在新闻发布会表示，沪渝蓉 ...

Core Viewpoint - The establishment of the Shield Tunneling Machine (TBM) Big Data Mining Community in Zhengzhou marks a significant step towards data sharing and collaboration in the tunneling industry, addressing current challenges such as fragmented data technology and lack of unified standards [1][2]. Group 1: Establishment and Objectives - The Shield/TBM Big Data Mining Community was founded on August 10, attracting over 400 representatives from more than 160 domestic units [1]. - The community aims to break down "data silos" and create a new intelligent ecological paradigm for the industry [1]. - Three core tasks have been identified: building a unified data center, collaborating on technical challenges, and integrating production and research to accelerate technology transfer [1]. Group 2: Technological Advancements - The "Pioneer Tunnel Model" was released, which is the first vertical large model in the tunnel and underground space sector, facilitating a shift from traditional experience-driven methods to data-driven intelligent decision-making [1]. - The model has achieved over 90% accuracy in predicting complex geological conditions, such as faults and sinkholes, enhancing safety and efficiency in tunnel construction [2]. - The new intelligent feedback technology system has been validated in projects like the plateau railway tunnel and the Chongqing-Taiwan Yangtze River Tunnel, promoting safe, high-quality, efficient, and green tunneling practices [2].

Investment Rating - Industry Rating: Outperform the market (maintained rating) [7] Core Viewpoints - The report highlights that 2025 marks the 70th anniversary of the Xinjiang Autonomous Region, and under the support of policies and demand, regional infrastructure is expected to remain resilient. Key recommendations include China Railway and China Railway Construction in infrastructure, and companies like Sanwei Chemical and China Chemical in the coal chemical sector [1][15]. Summary by Sections Infrastructure Investment in Xinjiang - Significant traffic infrastructure projects are accelerating, with the establishment of the Xinjiang-Tibet Railway Company and plans for the new railway to commence construction in November 2025. Fixed asset investment in Xinjiang grew by 13% year-on-year in the first half of 2025, surpassing the national average of 10.2% [2][20]. - The Xinjiang government is focusing on enhancing investment efficiency and developing ten industrial clusters, including hydrogen energy and intelligent computing, indicating potential policy support for infrastructure development [3][25]. Coal Chemical Investment - The report estimates that planned coal chemical projects in China total 1,032.9 billion yuan, with Xinjiang accounting for 491.64 billion yuan. The average annual investment from 2025 to 2029 is projected to be 206.58 billion yuan, a 220.6% increase compared to the 2021-2023 average [4][27]. - Several major coal chemical projects are underway in Xinjiang, with significant investments expected to continue, highlighting the region's advantageous resource endowment [29][30]. Market Performance - The construction index rose by 1.83% in the week of August 4-8, 2025, outperforming the CSI 300 index by 0.11%. Notable stock performances included Shanghai Port and Xinjiang Communications Construction [6][34]. - The report emphasizes the importance of infrastructure investment in achieving economic growth targets, with a focus on water conservancy, railways, and aviation projects, particularly in high-growth regions like Sichuan and Zhejiang [40].

Investment Rating - The report maintains a "Buy" rating for key companies in the construction and infrastructure sector, particularly those benefiting from the Xinjiang transportation infrastructure projects [9][26]. Core Viewpoints - The establishment of the Xinjiang-Tibet Railway Company, with a registered capital of 95 billion RMB, is expected to catalyze significant investment opportunities in the Xinjiang transportation infrastructure sector [1][12]. - The Xinjiang region is anticipated to receive increased policy support and major project investments, particularly in transportation infrastructure, due to its strategic importance to national energy security and ethnic unity [17][12]. - The report emphasizes the potential for substantial returns from leading construction companies such as China Railway, China Railway Construction, and China Communications Construction, as well as local firms like Xinjiang Communications Construction and Beixin Road and Bridge [1][8]. Summary by Sections Industry Investment Rating - The report recommends a "Buy" rating for major construction companies involved in Xinjiang's infrastructure projects, highlighting their strong market positions and expected growth [9][26]. Key Beneficiaries - Major construction central enterprises such as China Railway, China Railway Construction, and China Communications Construction are identified as primary beneficiaries of the Xinjiang infrastructure projects [18][24]. - Local companies like Xinjiang Communications Construction and Beixin Road and Bridge are also highlighted for their significant roles in regional infrastructure development [21][22]. Project Details - The Xinjiang-Tibet Railway, approximately 2010 kilometers long, is projected to require an investment of 96 billion RMB, with construction expected to commence in 2025 [1][12]. - The report outlines the timeline for project milestones, including geological surveys and construction start dates, indicating a structured approach to project execution [13][17]. Financial Metrics - Key financial metrics for recommended companies include projected earnings per share (EPS) and price-to-earnings (PE) ratios, with China Railway and China Railway Construction showing favorable valuations [27][28]. - The report provides detailed financial forecasts for these companies, indicating strong potential for growth and returns on investment [9][26].

Investment Rating - The industry investment rating is maintained as "Overweight" [2][4]. Core Viewpoints - The establishment of the Xinjiang-Tibet Railway Company is expected to accelerate the construction of the railway, which has been planned for a long time. The project aims to create a convenient passage from Xinjiang to Tibet, with a total length of approximately 2000 kilometers and a projected contract amount of about 90.2 billion RMB [2][3]. - The recent initiation of key projects in the central and western regions is expected to enhance regional investment elasticity, driven by the central government's push for high-quality infrastructure development [2][4]. - The profitability of railway construction is anticipated to improve due to the optimization of pricing mechanisms and anti-competitive policies, with gross profit margins for railway engineering expected to recover to 4.7% in 2023 and 5.7% in 2024 [2][4]. Summary by Sections Project Overview - The Xinjiang-Tibet Railway has been in planning since 2008, with various preparatory works progressing over the years. The recent establishment of the project company is seen as a catalyst for accelerating construction [2][3]. Regional Investment Dynamics - The central government's focus on stimulating private investment and expanding effective investment is expected to lead to the acceleration of key projects in regions such as Xinjiang and Tibet [2][4]. Profitability Outlook - The railway construction sector has faced low gross profit margins historically, but recent improvements in pricing mechanisms and policy changes are expected to enhance profitability moving forward [2][4].