Group 1 - The global manufacturing industry is undergoing profound changes, with digitalization, networking, and intelligence becoming essential for survival and long-term development [1] - High-end intelligent equipment is the fundamental cornerstone for upgrading the manufacturing industry, with industrial software acting as its "brain" and "soul" [1] - Artificial intelligence is a new means applied in industrial and manufacturing sectors, driving the formation of a new ecosystem of "AI and advanced manufacturing" [1] Group 2 - Digital transformation in the manufacturing sector is a deep cognitive and thinking revolution, requiring managers to integrate digital capabilities into core business operations [2] - AI is driving the industry towards a new phase of autonomous intelligent entities and physical intelligence, enhancing efficiency and reducing costs [2] - The practice of digital transformation in oil detection technology is being pioneered domestically, providing condition monitoring and operational guidance for large equipment [2] Group 3 - Equipment manufacturing companies are facing new challenges and opportunities in the new development cycle, with strategic focuses on refined management, globalization, and service-oriented transformation [3] - The essence of digitalization in high-end equipment manufacturing lies in the deep integration of information technology and manufacturing technology, enhancing precision, efficiency, and reliability [3] - The approach of cluster-based entrepreneurship in small and micro-special robots aims to address industry challenges and promote efficient collaboration across the supply chain [3]

Group 1 - The core viewpoint of the article highlights the trend of companies in the A-share market pursuing spin-off listings, with 30 companies currently in line for this process, indicating a significant shift towards independent financing for subsidiaries [2][5] - Spin-offs allow parent companies to focus on their core business while providing subsidiaries with independent financing channels, which has attracted institutional investors who are quick to capitalize on policy changes [2][5] - The article emphasizes the information asymmetry in the market, where institutional investors have the advantage of early access to signals and trends, leaving retail investors at a disadvantage [2][3] Group 2 - The biggest risk in a bull market is not a downturn but missing out on opportunities, as many investors become overly cautious after experiencing bear markets [3][5] - Market consensus plays a crucial role in bull markets, where the value of assets is often driven by the collective agreement among institutional investors [5][6] - Understanding institutional behavior is essential for retail investors, as true market intentions are often hidden behind superficial trading patterns [6][8] Group 3 - The article provides examples of specific stocks, such as Cambrian and Tibet Tianlu, to illustrate how institutional activity can signal potential price movements and the importance of monitoring these trends [8][10] - Quantitative data can help retail investors visualize capital flows, providing insights that traditional technical analysis may miss [11][13] - The relationship between spin-off announcements and institutional accumulation of shares is highlighted, suggesting that retail investors can benefit from observing these patterns [13][14] Group 4 - Recommendations for retail investors include focusing on who is buying rather than what to buy, establishing a personal observation system, and maintaining patience and emotional control in investment decisions [14]

Group 1 - The company will hold its third extraordinary general meeting of shareholders on December 29, 2025 [2][5] - The meeting will take place at the company's conference room located at No. 16-5, Xihuan Middle Road, Haidian District, Beijing [2][5] - Voting will be conducted through a combination of on-site and online methods, utilizing the Shanghai Stock Exchange's online voting system [5][6] Group 2 - The online voting period is set for December 29, 2025, with specific voting times during trading hours [3][6] - All resolutions to be discussed at the meeting have been approved by the company's board of directors [5][6] - The first ten agenda items are special resolutions requiring at least two-thirds of the voting rights to pass [6] Group 3 - Shareholders must register to attend the meeting by December 22, 2025, and can do so via various methods including mail or fax [12][14] - Personal identification is required for shareholders attending in person, and proxies must present authorization documents [13][14] - The meeting is expected to last half a day, with attendees responsible for their own travel and accommodation costs [16]

中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代碼：1766） 2025年12月29日（星期一）舉行的 2025年第三次臨時股東會之代表委任表格 地址為 （附註3） 為本人╱吾等的代表，代表本人╱吾等出席2025年12月29日（星期一）下午2時正於中國北京市海澱區西四環中路16-5號本公 司515會議室舉行的本公司2025年第三次臨時股東會（「臨時股東會」）及其任何續會，並依照下列指示代表本人╱吾等就本公 司日期為2025年12月5日的臨時股東會通告（「臨時股東會通告」）所列決議案投票，如無作出指示，則由本人╱吾等的代表自 行酌情投票表決。 | | 特別決議案 | （附註4） 贊成 | （附註4） 反對 | 棄權 | （附註4） | | --- | --- | --- | --- | --- | --- | | 1. | 審議及批准關於分拆所屬子公司中車戚墅堰機車車輛工藝研究所股份 | | | | | | | 有限公司至深圳證券交易所創業板上市背景及目的、商業合理性、必 | | | | | | | 要性及可行性分析的議案 | | | ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的持牌證券商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下全部中國中車股份有限公司股份售出或轉讓，應立即將本通函及隨附 的臨時股東會代表委任表格交予買方或承讓人，或送交經手買賣或轉讓的銀行、持牌 證券商或其他代理商，以便轉交買方或承讓人。 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文件的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本文件全部或任何部份 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。 中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代碼：1766） 關於分拆中車戚所至創業板上市 及 2025年第三次臨時股東會通知 中國中車股份有限公司謹訂於2025年12月29日（星期一）下午2時正（將於下午1時30分開 始辦理登記手續）假座中國北京市海澱區西四環中路16-5號本公司515會議室舉行臨時 股東會，臨時股東會通告載於本通函的第29至第30頁。 不論 閣下能否出席臨時股東會，務請細閱臨時 ...

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通告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任何 部份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。 中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代號：1766） 臨時股東會通告 茲通告中國中車股份有限公司（「本公司」）謹訂於2025年12月29日（星期一）下午2時正 （將於下午1時30分開始辦理登記手續）假座中國北京市海澱區西四環中路16-5號本公 司515會議室舉行的2025年第三次臨時股東會（「臨時股東會」），以審議並酌情通過下 列決議案（除非另有所指，本通告所用詞彙與本公司日期為2025年12月5日的通函所 定義者具有相同涵義）： 特別決議案 1 1. 審議及批准關於分拆所屬子公司中車戚墅堰機車車輛工藝研究所股份有限公司至 深圳證券交易所創業板上市背景及目的、商業合理性、必要性及可行性分析的議 案 2. 審議及批准關於分拆所屬子公司中車戚墅堰機車車輛工藝研究所股份有限公司至 深圳證券交易所創業板上市符合相關法律、法規規 ...

中国中车股份有限公司 2025 年第三次临时股东会 会 议 材 料 二〇二五年十二月 | | | | 议案 1：关于分拆所属子公司中车戚所至深圳证券交易所创业板上市背景 | | --- | | 及目的、商业合理性、必要性及可行性分析的议案 3 | | 议案 2：关于分拆所属子公司中车戚所至深圳证券交易所创业板上市符合 | | 相关法律、法规规定的议案 8 | | 议案 3：关于所属子公司中车戚所首次公开发行股票并在深圳证券交易所 | | 创业板上市方案的议案 9 | | 议案 4：关于《分拆所属子公司中车戚所至深圳证券交易所创业板上市的 | | 预案（修订稿）》的议案 12 | | 议案 5：关于分拆所属子公司至创业板上市符合《上市公司分拆规则（试 | | 行）》的议案 13 | | 议案 6：关于分拆所属子公司中车戚所至深圳证券交易所创业板上市有利 | | 于维护股东和债权人合法权益的议案 29 | | 议案 7：关于公司保持独立性及持续经营能力的议案 30 | | 议案 8：关于中车戚所具备相应规范运作能力的议案 32 | | 议案 9：关于本次分拆履行法定程序的完备性、合规性及提交的法律文件 | | 的 ...

证券代码：601766（A 股） 证券简称：中国中车（A 股） 公告编号：2025-053 证券代码： 1766 （H 股） 证券简称：中国中车（H 股） 中国中车股份有限公司 关于召开2025年第三次临时股东会的通知 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法律责任。 重要内容提示： 股东会召开日期：2025年12月29日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、召开会议的基本情况 （一） 股东会类型和届次：2025年第三次临时股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 （四） 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 12 月 29 日 14 点 00 分 召开地点：北京市海淀区西四环中路 16-5 号中国中车股份有限公司 515 会 议室 网络投票起止时间：自2025 年 12 月 29 日至2025 年 12 月 29 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日 ...

Core Viewpoint - China CRRC has successfully developed and launched its first megawatt-level PEM hydrogen production system, achieving full power operation, marking a significant advancement in PEM hydrogen technology [1][4]. Group 1: Technology and Performance - The PEM hydrogen production technology aligns with the intermittent and volatile characteristics of renewable energy, making it suitable for hydrogen production projects using wind and solar power [3][6]. - The megawatt-level PEM hydrogen system has a direct current energy consumption of less than 4.2 kWh/Nm³, with core performance indicators reaching industry-leading levels [3][6]. - The system incorporates high safety and reliability principles throughout its design, verification, integration, and operation lifecycle, utilizing advanced components to minimize hydrogen leakage and production energy consumption [3][6]. Group 2: Design and Application - The system features a containerized design, allowing for flexible transportation and rapid deployment, suitable for complex environments such as offshore platforms and deserts [3][6]. - It can be applied in scenarios such as wind-solar coupled hydrogen production, energy supply for remote areas, and green hydrogen substitution in chemical production, producing high-purity hydrogen for direct supply to fuel cells or chemical production [3][6]. - The system effectively reduces storage and transportation costs as well as carbon emissions [3][6]. Group 3: Strategic Implications - The successful commissioning of the megawatt-level PEM hydrogen system is a strong testament to China CRRC's commitment to the national "dual carbon" strategy and its efforts to create a "dual-track dual-cluster" industrial development pattern [3][6]. - Moving forward, China CRRC will continue to focus on new energy application scenarios, deepening technological exploration and innovation practices to provide efficient and reliable clean energy equipment solutions, thereby contributing significantly to the acceleration of the "dual carbon" strategic goals [3][6].

Core Insights - China CRRC Group has significantly improved local infrastructure and living conditions in Tianshui, Gansu, through targeted assistance programs, enhancing agricultural supply chains and access to clean water [2][3][4][5][6] Infrastructure Development - The company has constructed 18 water storage tanks in Gangu County, benefiting 2,817 households and 11,981 residents by providing reliable water supply [3][4] - CRRC has built roads connecting remote villages to external markets, facilitating better transportation for agricultural products [2][4] Educational Initiatives - CRRC has established 22 "CRRC Reading Rooms" in local schools, providing access to books and fostering a culture of reading among children [5] - The company organizes educational trips for students to experience advanced technology, inspiring them to pursue careers in fields like artificial intelligence [4][5] Economic Empowerment - The company promotes local industries by transforming agricultural products into profitable ventures, such as the development of high-value crops and employment opportunities in processing facilities [6] - CRRC has supported the establishment of employment workshops, enabling local residents to earn stable incomes, with some workers reporting monthly earnings of 4,000 yuan [6] Community Engagement - The company emphasizes a dual approach of "intellectual and motivational support," integrating cultural and industrial resources to enhance community development [5][6] - CRRC's initiatives have led to a significant transformation in local economies, with products like Maiji flower apples and Gangu chili gaining recognition in broader markets [6]