中国中铁股份有限公司 CHINA RAILWAY GROUP LIMITED ( 于中华人民共和国注册成立的股份有限公司 ) 股份代码：601390 25 3. 32 8 8 12 2 2 2 2 2025 半年度报告 中国中铁股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议 三、 本半年度报告未经审计 德勤华永会计师事务所（特殊普通合伙）对公司 2025 年半年度报告中财务报告进行了审阅。 四、 公司负责人陈文健、主管会计工作负责人孙璀及会计机构负责人（会计主管人员）于来新 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 不适用 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 ...

| H | A | | --- | --- | | 股代码：00390 | 股代码：601390 | | 股简称：中国中铁 H | 股简称：中国中铁 公告编号：临 A 2025-049 | 重要内容提示： －1－ 被担保人名称：本期被担保人涉及公司12家全资子公司：中铁一局 集团物资工贸有限公司、中铁一局集团天津建设工程有限公司、 中铁电气化局集团西安电气化工程有限公司、中铁电气化局集团 （香港）有限公司、中铁国际集团商贸有限公司、中铁二院昆明 勘察设计研究院有限责任公司、中铁电气化勘测设计研究院有限 公司、中铁武汉大桥工程咨询监理有限公司、中铁文化旅游投资 集团有限公司、鲁班工业品（天津）有限公司、中铁物贸集团西 安有限公司、中铁物贸集团武汉有限公司。2家参股公司：汕头市 牛田洋快速通道投资发展有限公司、上海铧协房地产开发有限公 司。 本期实际发生担保金额及累计担保余额：公司 2025 年第二季度实 际发生担保金额为 14.41 亿元；截至 2025 年 6 月 30 日，公司累 计担保余额为 922.45 亿元（其中差额补足承诺 411.53 亿元）。 本期担保事项是否有反担保：否 对外担保逾期的累计数量 ...

中国中铁2025年第二季度新增担保的被担保人基本情况表 | | | | | 一般项目：建筑材料销售；金属材料销售；水泥制 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 品销售；石油制品销售（不含危险化学品）；煤炭 | | | | | | | | | | | | | | | | | 及制品销售；机械设备销售；电气设备销售；机械 | | | | | | | | | | | | | | | | | 电气设备销售；通讯设备销售；电子专用设备销 | | | | | | | | | | | | | | | | | 售；特种设备销售；金属矿石销售；金属制品销 | | | | | | | | | | | | | | | | | 售；金属结构销售；高品质特种钢铁材料销售；有 色金属合金销售；高性能有色金属及合金材料销 | | | | | | | | | | | | | | | | | 售；电子元器件与机电组件设备 ...

一、财务公司基本情况 (一)工商登记情况 名称：中铁财务有限责任公司 企业性质：其他有限责任公司 注册地址：北京市海淀区复兴路69号6号中国中铁大厦C 座5层 中国中铁股份有限公司 关于中铁财务有限责任公司2025年上半 年风险持续评估的报告 根据国家金融监督管理总局以及上海证券交易所的相关要求，中 国中铁股份有限公司(以下简称"中国中铁")通过查验中铁财务有限 责任公司(以下简称"财务公司")的《营业执照》与《金融许可证》 等资料，并审阅包括资产负债表、利润表、现金流量表等在内的财务 公司的定期财务报告，对其经营资质、业务和风险状况进行了持续评 估。具体情况报告如下： 法定代表人：杨育林 注册资本：人民币90亿元 统一社会信用代码：91110000717838206Y (二)经营范围 吸收成员单位存款；办理成员单位贷款；办理成员单位票据贴现； 办理成员单位资金结算与收付；提供成员单位委托贷款、债券承销、 非融资性保函、财务顾问、信用鉴证及咨询代理业务；从事同业拆借； 1 办理成员单位票据承兑；办理成员单位产品买方信贷；从事固定收益 类有价证券投资。 (三)股东构成 | 序号 | 出资人名称 | 认缴资本 ( ...

Group 1 - The establishment of Henan Rushong Expressway Co., Ltd. with a registered capital of 200 million yuan is noted, focusing on services such as micro-car rental, solar power technology services, and sales of construction materials and rebar products [1][2]. - The company is jointly owned by the Design Research Institute (300732) and a wholly-owned subsidiary of China Railway (601390), namely China Railway Capital Co., Ltd. [1][3]. - The company is registered in Luoyang, Henan Province, and its business scope includes various services and sales related to construction and energy [2][3]. Group 2 - The legal representative of the company is Wang Guoqing, and it is currently in a state of operation with a business term extending until August 26, 2025 [2]. - The company is classified under the national standard industry of engineering construction [2]. - The major shareholder, China Railway Capital Co., Ltd., holds a 51% stake, indicating significant control over the company [3].

Core Insights - The establishment of the Shield Tunnel/Boring Machine (TBM) Big Data Mining Community marks a significant advancement in China's tunnel construction, transitioning into a data-driven and intelligent era [1] - The release of the first vertical large model in the tunnel and underground space sector, named "Pioneer Tunnel Model," showcases the integration of artificial intelligence and big data in enhancing construction efficiency and safety [1][2] Group 1 - The "Pioneer Tunnel Model" was developed by China Railway Tunnel Bureau's key laboratory, utilizing data from 773 engineering lines and 120 billion construction data points to create a comprehensive technology system for the tunnel and underground space lifecycle [1] - The model includes an AI assistant called "Tunnel Hero," which provides functionalities such as industry knowledge dissemination, professional Q&A, industry standards, text translation, and project planning support [1] - The model has achieved over 90% accuracy in predicting hazards like faults and sinkholes in complex geological conditions, significantly improving real-time detection capabilities [2] Group 2 - The newly formed Shield/TBM Big Data Mining Community aims to address industry challenges such as data silos, inconsistent standards, and insufficient collaboration across the entire construction lifecycle [2] - The community will focus on three core tasks: building a unified data center, collaborating on core algorithm development for TBM, and integrating industry-academia-research applications to accelerate technology transfer and foster new productivity [2]

Core Insights - The overall new contract signing by the eight major state-owned construction enterprises in China for the first half of 2025 is approximately 7.87 trillion yuan, reflecting a slight year-on-year decrease of 0.19% [1] - China State Construction Engineering Corporation (CSCEC) leads the industry with over 2.5 trillion yuan in new contracts, followed by China Railway Group and China Railway Construction Corporation with over 1.1 trillion yuan and 1.06 trillion yuan respectively [1][2] Group 1: Company Performance - CSCEC's new contract total exceeds 2.5 trillion yuan, showing a year-on-year growth of 0.9%, with infrastructure contracts growing by 10% to 823.7 billion yuan [2] - China Railway Group's new contracts reached 1.1 trillion yuan, marking a 2.8% increase, with asset management contracts surging by 425% [3] - China Railway Construction Corporation's new contracts totaled 1.06 trillion yuan, down 4.04%, but its overseas contracts grew by 57.43% [3] Group 2: Market Trends - The construction industry is experiencing a shift towards high-quality and high-tech competition, with larger firms consolidating their market positions [4] - The performance of the eight major construction enterprises shows a divergence, with six companies achieving positive growth in new contracts, while China Metallurgical Group and China Chemical Engineering saw declines [5] - The overseas contract signing by the eight enterprises totaled 994.46 billion yuan, a 16.33% increase from the previous year, indicating strong international expansion [7] Group 3: Future Outlook - The expansion of overseas markets is driven by the Belt and Road Initiative, global infrastructure demand, and the competitive advantages of Chinese construction firms [8] - The construction industry is expected to play a crucial role in stabilizing the economy and improving the real estate market through effective investment strategies [6]

Group 1: ESG Forum and Initiatives - The third "Vibrant ESG" Innovation Forum was held in Shanghai, focusing on green transformation and high-quality development, with participation from regulators, leading companies, multinational corporations, financial institutions, and universities [1] - A total of 56 cases were selected for the "Vibrant ESG" Practice Report (2025), categorized into three types: environmental friendliness (30 cases), social responsibility (20 cases), and corporate governance (6 cases) [2] Group 2: Safety Incidents in Companies - China Railway announced an investigation into a construction accident at the Qianzhai Yellow River Bridge, resulting in 12 fatalities and 4 missing persons, with the bridge having a total length of 1596.2 meters and a contract value of approximately 436 million yuan [5] - Hunan Gold reported a temporary production halt at its subsidiary due to a fatal accident during operations, with the subsidiary generating 472 million yuan in revenue and 129 million yuan in net profit for the 2024 fiscal year [6] - Rhine Biology experienced an explosion in a drying workshop, leading to 1 death and 7 injuries, with initial property damage estimated at over 2 million yuan [7]

Core Insights - The 2025 ENR "Top 250 International Contractors" list shows that 76 companies from mainland China made the list, maintaining the highest number globally. The total international revenue of these companies reached $127.32 billion in 2024, a year-on-year increase of 3.6%, accounting for 25.4% of the global total [1][3]. Group 1: Company Rankings - Four Chinese companies ranked in the top ten: China Communications Construction Company (4th), China State Construction Engineering (6th), China Power Construction Group (8th), and China Railway Construction Corporation (9th) [1][3]. - The average international revenue for Chinese companies was $1.675 billion, with a year-on-year growth of 10.2%. The average international business share increased by 1 percentage point to 9.5% [1][3]. Group 2: Market Presence - Chinese companies lead in the Asian, African, and Middle Eastern markets with shares of 59.2%, 61.6%, and 27.1% respectively, but they have not made significant inroads into the U.S. and Canadian markets [3]. - In the European market, European companies dominate in North America, Australia, and Latin America [3]. Group 3: Business Segments - The primary business sectors for these contractors include transportation, building construction, petrochemicals, and power engineering, with Chinese firms showing strong competitiveness, particularly in power, transportation, and building construction [3]. Group 4: Overall Performance - Among the 76 Chinese companies listed, 46 saw their rankings improve compared to the previous year, with Hunan Construction Investment Group entering the list at 124th [3]. - The overall performance of Chinese international contractors indicates strong adaptability and sustained growth potential in a complex global environment [3].

Group 1 - The Shanghai Composite Index opened high and rose, with the Shanghai 180 Infrastructure Index increasing by 1.19% to 1889.98 points and a trading volume of 39.504 billion yuan [1] - The Shanghai 180 Infrastructure Index has seen a decline of 2.53% over the past month, 1.62% over the past three months, and 3.00% year-to-date [2] - The index is based on the Shanghai 180 Index and includes listed companies in infrastructure, resources, and transportation themes, reflecting their overall performance in the secondary market [2] Group 2 - The top ten weighted stocks in the Shanghai 180 Infrastructure Index include: Yangtze Power (13.97%), China Telecom (8.57%), China State Construction (8.4%), China Mobile (7.18%), China Unicom (6.69%), China Nuclear Power (5.47%), Three Gorges Energy (4.45%), China Railway (4.31%), China Power Construction (3.9%), and Guodian Power (3.1%) [2] - The index's holdings are entirely from the Shanghai Stock Exchange, with the public utility sector accounting for 40.05%, industrial sector for 36.17%, and communication services for 23.79% [3] - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December each year [3]