以上内容基于公开资料整理，不构成投资建议。 经济观察网 中国中车港股（代码：01766.HK）在近一周（2026年2月17日至2月23日）表现活跃，受春 节后市场情绪影响。截至2月23日，股价报收5.90港元，单日上涨1.90%，振幅2.25%；近一周区间涨跌 幅为1.55%，区间振幅3.27%。资金面上，2月23日主力净流入224.79万港元，显示短期资金参与度提 升。技术面显示，股价近期震荡，布林带中轨位于5.839港元，压力位关注5.957港元。同期，轨交设备 板块整体上涨2.99%，恒生指数上涨2.57%，公司表现与板块趋势基本同步。 ...

Core Viewpoint - The company, CRRC Datong Electric Locomotive Co., Ltd., plays a crucial role in ensuring the safe and efficient transportation of goods during the Spring Festival, highlighting the integration of legal compliance and safety in its operations [1][8]. Group 1: Company Operations - The company has over 70 years of experience in manufacturing steam, diesel, and electric locomotives, contributing significantly to the national logistics network [1]. - During the Spring Festival, the company produces heavy-duty freight locomotives that transport essential goods like electricity and annual supplies across the country [1]. - The production facility emphasizes strict safety protocols, with mandatory safety gear and a clean, advanced manufacturing environment [4]. Group 2: Compliance and Safety - The company implements a three-tier safety training system that embeds legal regulations and risk prevention into daily operations, fostering a culture of compliance among employees [4][5]. - The precision in manufacturing is highlighted by the requirement that the alignment of locomotives and their components must not exceed a deviation of 0.1 millimeters, reflecting adherence to quality standards and legal regulations [6]. - The integration of legal principles into production processes ensures that every locomotive produced meets high safety and quality standards, contributing to reliable transportation during peak seasons [8]. Group 3: Service and Support - The company operates over 2,000 freight locomotives during the Spring Festival, with a comprehensive service network that includes standardized service stations and 24-hour expert availability [6]. - The focus on legal compliance extends to customer service, ensuring that all operational locomotives undergo thorough inspections and maintenance to guarantee their performance during high-demand periods [6][9]. - The commitment to legal education within the workforce transforms legal clauses into actionable operational standards, enhancing overall production efficiency and safety [8].

Group 1 - Pei Mingshan appointed as Deputy Secretary and Director of China Railway Construction Group Co., Ltd., nominated as candidate for General Manager, relieved of his position as a member of the Standing Committee of China Communications Construction Group Co., Ltd., and no longer serves as Deputy General Manager of China Communications Construction Group Co., Ltd. [2][14] - Hou Xiao appointed as Deputy Secretary and Director of China Guoxin Holdings Co., Ltd., nominated as candidate for General Manager [3][15] - Dong Baoliang appointed as Deputy Secretary and Director of China Railway Signal and Communication Group Co., Ltd., nominated as candidate for General Manager, and no longer serves as an external director of China Automotive Technology Research Center Co., Ltd. [4][16] Group 2 - Zheng Weili appointed as a member of the Standing Committee of China Coal Technology and Engineering Group Co., Ltd., nominated as candidate for Chief Accountant [5][17] - Zhang Deyong appointed as a member of the Standing Committee of China Electrical Equipment Group Co., Ltd., nominated as candidate for Chief Accountant [6][18] - Qu Xiaoli appointed as a member of the Standing Committee of China CNR Corporation Limited, relieved of his position as a member of the Standing Committee of China National Building Material Group Corporation, and no longer serves as Deputy General Manager of China National Building Material Group Corporation [7][19] Group 3 - Hu Naimin relieved of his position as a member of the Standing Committee of China Energy Conservation and Environmental Protection Group Co., Ltd., no longer serves as Deputy General Manager, and is retiring [8][20] - Ma Shizhi relieved of his position as a member of the Standing Committee of China Coal Energy Group Co., Ltd., no longer serves as Deputy General Manager, and is retiring [9][21] - Wu Xiangong relieved of his position as a member of the Standing Committee of China Chemical Engineering Group Co., Ltd., and is retiring [10][22] Group 4 - Wang Shiqi relieved of his positions as Deputy Secretary and member of the Standing Committee of China Railway Engineering Group Co., Ltd., and is retiring [11][23] - Sun Lixia relieved of her positions as a member of the Standing Committee and Secretary of the Discipline Inspection Commission of China Poly Group Co., Ltd., and is retiring [12][24]

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

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]

Core Insights - China CRRC (601766) is promoting its CR450 high-speed train and the "Qihang" 20 MW offshore wind turbine, emphasizing its strategy of "technology synergy and industrial chain collaboration" to expand in the clean energy equipment sector, forming a "dual-track dual-cluster" pattern [1] - The company has been focusing on direct exports to the European market and has established subsidiaries in Europe, while clarifying that it is not currently involved in the aerospace sector [1] Stock Performance - As of February 12, 2026, the latest stock price of China CRRC A-shares (601766.SH) is 6.41 CNY, with a slight increase of 0.16% on that day and a cumulative decline of 0.16% over the past five days, with a price range fluctuation of 1.87% [2] - Technical analysis indicates a Bollinger Bands resistance level at 6.94 CNY and a support level at 6.11 CNY; the MACD histogram has turned positive, suggesting a slight improvement in short-term momentum [2] - The wind power concept sector rose by 1.64% and the high-speed rail concept sector increased by 1.18% on the same day [2] Institutional Insights - Guosen Securities' mechanical equipment industry weekly report on February 10 highlights the sustained high prosperity of AI infrastructure and unexpected capital expenditures from overseas major manufacturers, recommending attention to sub-sectors like liquid cooling and gas turbines, which are related to the company's wind power business [3]

Core Viewpoint - The company has been actively exporting products and services to the European market in recent years, primarily through direct sales to customers [1] Group 1: Business Operations - The company has established subsidiaries in Europe to conduct overseas business [1] - The main method of sales to the European market is direct exports from domestic entities [1]

Group 1 - The core viewpoint of the article is that China CNR Corporation (601766.SH) has been actively exporting products and services to the European market in recent years, primarily through direct customer exports [1] - The company has established subsidiaries in Europe to conduct overseas business [1]