（文章来源：证券日报） 证券日报网讯 2月13日，中国中铁发布公告称，公司未对控股股东和实际控制人及其关联人提供担保， 无逾期对外担保。 ...

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2026年2月13日在上海證券交易所網站刊登的「中國中鐵 股份有限公司關於2025年第四季度對外擔保實際發生情況的公告」，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 2026年2月13日 於本公告日期，本公司的執行董事為陳文健先生（董事長）、趙佃龍先生及王士奇先生； 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。 | | | 中国中铁股份有限公司 被担保人名称：本期被担保人涉及公司11家全资子公司：中铁一局 集团第六建设有限公司、中铁一局集团（海南）国际建设有限公 司、中铁电气化局集团西安电气化工程有限公司、中铁国际集团 商贸有限公司、中海外几内亚铁路运营有限责任公司、中海外科 纳克里有限责任公司、中铁四川生态城投资有限公司、鲁班 ...

据央视新闻，2月13日全国铁路预计发送旅客1510万人次，客流保持高位运行，计划加开旅客列车2117 列。2月12日，全国铁路发送旅客1501.9万人次，2月2日春运启动以来累计发送旅客1.43亿人次，运输安 全平稳有序。截至2月13日8时，铁路12306（含网站、客户端等，下同）已累计发售春运期间火车票超 2.24亿张。 （文章来源：第一财经） ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced personnel changes in 14 central enterprises, involving 11 leadership appointments and removals. Group 1: Leadership Appointments - Pei Mingshan appointed as Deputy Secretary of the Party Committee and Director of China Railway Construction Group, nominated as General Manager candidate [1] - Hou Xiao appointed as Deputy Secretary of the Party Committee and Director of China National New Group, nominated as General Manager candidate [2] - Dong Baoliang appointed as Deputy Secretary of the Party Committee and Director of China Railway Signal and Communication Group, nominated as General Manager candidate [3] - Zheng Weili appointed as Member of the Standing Committee of the Party Committee of China Coal Technology and Engineering Group, nominated as Chief Accountant candidate [4] - Zhang Deyong appointed as Member of the Standing Committee of the Party Committee of China Electrical Equipment Group, nominated as Chief Accountant candidate [5] - Qu Xiaoli appointed as Member of the Standing Committee of the Party Committee of China CRRC Group, removed from the same position at China National Building Material Group [6] Group 2: Leadership Removals - Hu Naimin removed from the Standing Committee of the Party Committee of China Energy Conservation and Environmental Protection Group, retired [7] - Ma Shizhi removed from the Standing Committee of the Party Committee of China Coal Energy Group, retired [8] - Wu Xiangong removed from the Standing Committee of the Party Committee of China Chemical Engineering Group, retired [9] - Wang Shiqi removed from the Deputy Secretary and Standing Committee of the Party Committee of China Railway Engineering Group, retired [10] - Sun Lixia removed from the Standing Committee and Discipline Inspection Secretary of China Poly Group, retired [11]

Group 1 - 14 central enterprises have undergone leadership changes, with 11 personnel appointments and removals [1][2][3][4][5][6][7][8][9][10][11] - Pei Mingshan has been appointed as the Deputy Secretary and Director of China Railway Construction Group, nominated as the candidate for General Manager [1] - Hou Xiao has been appointed as the Deputy Secretary and Director of China Guoxin Holdings, nominated as the candidate for General Manager [2] - Dong Baoliang has been appointed as the Deputy Secretary and Director of China Railway Signal and Communication Group, nominated as the candidate for General Manager [3] - Zheng Weili has been appointed as a member of the Standing Committee of China Coal Technology and Engineering Group, nominated as the candidate for Chief Accountant [4] - Zhang Deyong has been appointed as a member of the Standing Committee of China Electrical Equipment Group, nominated as the candidate for Chief Accountant [5] - Qu Xiaoli has been appointed as a member of the Standing Committee of China CNR Corporation, removed from the Standing Committee of China National Building Material Group [6] Group 2 - Hu Naimin has been removed from the Standing Committee of China Energy Conservation and Environmental Protection Group and has retired [7] - Ma Shizhi has been removed from the Standing Committee of China Coal Energy Group and has retired [8] - Wu Xiangong has been removed from the Standing Committee of China Chemical Engineering Group and has retired [9] - Wang Shiqi has been removed from the Deputy Secretary and Standing Committee of China Railway Engineering Group and has retired [10] - Sun Lixia has been removed from the Standing Committee and Discipline Inspection Commission of China Poly Group and has retired [11]

Group 1 - Pei Mingshan appointed as Deputy Secretary and Director of China Railway Construction Group Co., Ltd., nominated as General Manager candidate, relieved of his position as Standing Committee member of China Communications Construction Group Co., Ltd., and no longer serves as Deputy General Manager of China Communications Construction Group Co., Ltd. [1] - Hou Xiao appointed as Deputy Secretary and Director of China Guoxin Holdings Co., Ltd., nominated as General Manager candidate. [2] - Dong Baoliang appointed as Deputy Secretary and Director of China Railway Communication Signal Group Co., Ltd., nominated as General Manager candidate, and no longer serves as External Director of China Automotive Technology Research Center Co., Ltd. [3] Group 2 - Zheng Weili appointed as Standing Committee member of China Coal Technology and Engineering Group Co., Ltd., nominated as Chief Accountant candidate. [4] - Zhang Deyong appointed as Standing Committee member of China Electrical Equipment Group Co., Ltd., nominated as Chief Accountant candidate. [5] - Qu Xiaoli appointed as Standing Committee member of China CNR Corporation Limited, relieved of his position as Standing Committee member of China National Building Material Group Corporation, and no longer serves as Deputy General Manager of China National Building Material Group Corporation. [6] Group 3 - Hu Naimin relieved of his position as Standing Committee member of China Energy Conservation and Environmental Protection Group Co., Ltd., no longer serves as Deputy General Manager, and is retiring. [7] - Ma Shizhi relieved of his position as Standing Committee member of China Coal Energy Group Co., Ltd., no longer serves as Deputy General Manager, and is retiring. [8] - Wu Xiangong relieved of his position as Standing Committee member of China Chemical Engineering Group Co., Ltd. and is retiring. [9] - Wang Shiqi relieved of his positions as Deputy Secretary and Standing Committee member of China Railway Engineering Group Co., Ltd. and is retiring. [10] - Sun Lixia relieved of her positions as Standing Committee member and Discipline Inspection Secretary of China Poly Group Co., Ltd. and is retiring. [11]

| A H | | | | | | | --- | --- | --- | --- | --- | --- | | | 股代码：601390 股代码：00390 | | | | | | | | A H | | | | | | | | 股简称：中国中铁 股简称：中国中铁 | | | | | | | | 公告编号：临 | 2026-013 | 中国中铁股份有限公司 关于 2025 年第四季度对外担保实际发生情况的公告 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 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带责任。 重要内容提示： －1－ | | | | | | | | | | 是 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 担 | 受益人/ | | | | 否 | | 序 | 担保主 | 被担保人 | 担保 | 保 | 债权人 | 担保金额 | 担保开始日 | 担保结束日 | 有 | | 号 | 体全称 | 全称 | 方式 | 种 | 名称 | （万元） | 期 | 期 ...

中国中铁2025年第四季度新增担保的被担保人基本情况表 | 序号 | 担保主体全称 | 被担保人全称 | 担保方式 | 担保种类 | 受益人/债权人名称 | 担保金额 （万元） | 担保开始日期 | 担保结束日期 | 是否有反 担保 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 中铁一局集团有限公司 | 中铁一局集团第六建设有限公司 | 连带责任担保 | 保函担保 | 建行天津河东支行 | 134.46 | 2025/10/17 | 2026/10/31 | 否 | | 2 | 中铁一局集团有限公司 | 中铁一局集团（海南）国际建设有限公司 | 连带责任担保 | 票据担保 | 中信银行海口分行 | 812.8 | 2025/12/3 | 2026/5/3 | 否 | | 3 | 中铁电气化局集团有限公司 | 中铁电气化局集团西安电气化工程有限公 司 | 连带责任担保 | 票据担保 | 中国建设银行宝鸡金台区支行 | 841.48 | 2025/12/18 | 2026/6/26 | 否 | | 4 | 中铁装配式建筑 ...

春运期间，不少网友在社交平台反映带儿童回家，抢票时被安排至静音车厢；还有网友称在候补车票时并未勾选 静音车厢的选项，但还是和孩子被分配至静音车厢。对于"带儿童同行会优先分配到静音车厢"的说法，2月13日， 12306客服回应南都N视频记者称，该说法不准确，车厢是随机分配，今年2月起，"静音车厢"服务拓展至"D"字 头、"G"字头动力分散动车组列车。 对于没勾选静音车厢仍被分配的情况，客服表示可能该趟列车只剩下静音车厢的余票，"如果退票的人正好是静音 车厢的，候补到下一个乘客的话只能是静音车厢的票。现在静音车厢比较多。若乘客认为静音车厢不方便，上车 后可与列车上工作人员协调是否可以调换位置。" 此外，有网友认为"是春运的原因，铁路增开了静音列车"。对此，12306客服告诉南都记者，自2月1日起，"静音 车厢"服务将拓展至除动卧列车之外的"D"字头、"G"字头动力分散动车组列车，并非因春运而设置。 南都记者从12306官方公众号了解到，目前全国铁路提供"静音车厢"服务的列车增至超8000列。提供"静音车厢"服 务的列车在铁路12306购票界面上标注"静"字，旅客购票时须同意静音约定，方可购买"静音车厢"车票。 （ ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In 2025, the number and scale of issued accounts - receivable asset - backed securities increased year - on - year. The actual financiers were still concentrated in construction central enterprises and their subsidiaries, with a more prominent head - effect. These entities were more inclined to introduce in - system factoring companies, capital companies, asset management companies, trust companies, other financial platforms, and off - system commercial factoring companies as original equity holders or agents of original equity holders to issue securitized products. - In 2025, the average issuance scale of single accounts - receivable asset - backed special plans decreased compared to the previous year, the product term was slightly shortened, the issuance interest rate continued to decline, the securities were mainly of AAAsf credit rating, and the overall product credit risk remained at a low level. The trading activity in the secondary market increased significantly [38]. 3. Summary According to the Directory Issuance Situation - In 2025, 157 accounts - receivable asset - backed securitization products were issued in the exchange market, with a total issuance scale of 180.806 billion yuan. The number of issuances increased by 22, and the issuance scale rose by 9.40% year - on - year. The issuance scale accounted for 12.37% of the total issuance scale of enterprise asset - securitization products for the whole year, a decrease of 0.85 percentage points year - on - year [4][5]. - In terms of issuance venues, 140 products with an issuance amount of 172.474 billion yuan (accounting for 95.39%) were issued on the Shanghai Stock Exchange, and 17 products with an issuance amount of 8.332 billion yuan (accounting for 4.61%) were issued on the Shenzhen Stock Exchange [8]. - Regarding the distribution of original equity holders, the top five original equity holders were China Railway Capital Co., Ltd., China Railway Trust Co., Ltd., China Railway Construction Asset Management Co., Ltd., CCCC Commercial Factoring Co., Ltd., and Shenzhen United Factoring Co., Ltd., with issuance scale proportions of 32.27%, 16.95%, 11.06%, 2.73%, and 2.48% respectively. The total issuance scale of the top five original equity holders was 118.429 billion yuan, accounting for 65.50%; the total issuance scale of the top ten was 134.983 billion yuan, accounting for 74.66% [8]. - In terms of actual financiers, the total issuance scale of the top ten actual financiers was 165.964 billion yuan, accounting for 91.79%, an increase of 1.89 percentage points year - on - year. The actual financiers were mainly concentrated in central enterprises and their subsidiaries, with an issuance scale of 162.126 billion yuan, accounting for 89.67%, a year - on - year increase of 3.06 percentage points. In terms of industries, the actual financiers in the construction industry had an issuance scale of 165.423 billion yuan, accounting for 91.49% [10]. - Regarding the distribution of managers, the top five managers with the highest proportion of new management scale were CITIC Securities Co., Ltd., Huaxi Securities Co., Ltd., Ping An Securities Co., Ltd., Shanghai Guotai Haitong Securities Asset Management Co., Ltd., and CITIC Construction Securities Co., Ltd., with scale proportions of 17.61%, 16.95%, 14.64%, 10.13%, and 9.39% respectively. The total new management scale of the top five managers was 124.244 billion yuan, accounting for 68.72%, a year - on - year increase of 5.54 percentage points; the total new management scale of the top ten managers was 160.486 billion yuan, accounting for 88.76%, a year - on - year increase of 9.70 percentage points [14]. - In terms of product scale distribution, the highest single - product issuance scale was 5.4 billion yuan, and the lowest was 100 million yuan. The products with a single - scale in the (5, 10] billion yuan range had the largest number of issuances, with 51 units and a scale proportion of 21.47%. The average single - issuance scale was 1.152 billion yuan, a decrease of 73 million yuan compared to the previous year [16]. - Regarding the term distribution, the shortest term was 0.69 years, and the longest was 4.99 years. The products with a term in the (1, 3] - year range had the largest number of issuances, with 88 units and a scale proportion of 49.97%. The weighted average term was 2.14 years, slightly shorter than the previous year [17]. - In terms of level distribution, in 2025, AAAsf - rated securities accounted for 90.08%, AA + sf - rated securities accounted for 6.33%, and sub - grade securities accounted for 3.59% [19]. - Regarding the issuance interest rate, the median issuance interest rate of AAAsf - rated securities with a term of around 1 year was 1.85%, a year - on - year decrease of about 29BP [4][21]. Issuance Spread Statistical Analysis - Compared with government bonds of the same term, the average issuance spreads of 1 - year and 3 - year accounts - receivable asset - backed securities in 2025 narrowed compared to the previous year. For example, the average 1 - year spread decreased from 0.74 percentage points in 2024 to 0.48 percentage points in 2025 [26][28]. - Compared with AAA - rated corporate bonds of the same term, the average issuance spreads of 1 - year and 3 - year AAAsf - rated accounts - receivable asset - backed securities in 2025 also narrowed compared to the previous year. The average 1 - year spread decreased from 0.18 percentage points in 2024 to 0.14 percentage points in 2025 [31][32]. - In terms of issuance cost, the average issuance interest rate of 1 - year AAAsf - rated accounts - receivable asset - backed securities issued in 2025 decreased by 32BP year - on - year [32]. Filing Situation - In 2025, 105 accounts - receivable asset - backed special plans were filed with the Asset Management Association of China, with a total scale of 129.051 billion yuan. Compared with the previous year, the number of filings decreased by 12, and the filing scale decreased by 14.02% [4][33]. Secondary Market Trading Situation - In 2025, accounts - receivable asset - backed securities had 5,596 transactions in the secondary market, a year - on - year increase of 102.90%. The total transaction scale was 147.768 billion yuan, a year - on - year increase of 47.63%. The transaction scale accounted for 13.76% of the total transaction scale of enterprise asset - backed securities in the current period, a decrease of 1.11 percentage points year - on - year, ranking second in terms of transaction scale [4][36]. Maturity Situation in 2026 - It is estimated that 261 outstanding accounts - receivable asset - backed securities will mature in the exchange market in 2026, with a maturity scale of 168.808 billion yuan, accounting for 21.19% of the total maturity scale of all enterprise asset - backed securities in 2026, ranking second in terms of maturity scale [4][37]. - From the perspective of original equity holders, China Railway Capital Co., Ltd. had 43 maturing accounts - receivable asset - backed securities, with a repayment scale of 43.229 billion yuan, accounting for 25.61%; China Railway Trust Co., Ltd. had 33 maturing securities, with a repayment scale of 33.605 billion yuan, accounting for 19.91%; China Railway Construction Asset Management Co., Ltd. had 22 maturing securities, with a repayment scale of 25.449 billion yuan, accounting for 15.08% [37].