| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000927 | 中国铁物 | 2.87 | -2.71% | 268.71万 | 7.72亿 | | 688009 | 中国通号 | 5.63 | -2.09% | 77.81万 | 4.38亿 | | 601766 | 中国中车 | 6.60 | -1.93% | 314.42万 | 20.95 Z | | 688367 | 工大高科 | 35.22 | -1.29% | - 3.04万 | 1.08亿 | | 688485 | 九州一轨 | 20.75 | -1.24% | 4.11万 | 8731.97万 | | 000008 | 神州高铁 | 3.21 | -0.93% | 63.96万 | 2.04亿 | | 300851 | 交大思诺 | 30.30 | -0.62% | 1.56万 | 4718.33万 | | 603680 | 今创重团 | 15.77 | -0.50% | 7.34万 | 1.16亿 | | 603111 | 康 ...

Core Insights - As of December 2025, China's cumulative installed capacity for energy storage reached 213.3 GW, marking a 54% year-on-year increase [1] - The market share of pumped storage is 31.3%, while new energy storage, represented by lithium batteries, has seen a significant growth, accounting for over two-thirds of the total installed capacity [1] - New energy storage installations reached 144.7 GW, an 85% increase year-on-year, with the cumulative capacity being 45 times that of the end of the 13th Five-Year Plan [1] Installed Capacity and Market Trends - By the end of 2025, new energy storage installations included 66.43 GW and 189.48 GWh, with power and energy scales increasing by 52% and 73% respectively [1] - The top ten provinces in terms of installed capacity each exceeded 5 GWh, collectively accounting for nearly 90% of the total, with western provinces leading the way [1] Bidding and Pricing Dynamics - In 2025, the number of bidding sections for energy storage systems decreased by 10.4% to 690, while EPC bidding sections increased by 4.5% to 1,536 [2] - The bidding scale for energy storage systems reached 121.5 GWh, a 140.1% increase, and EPC bidding scale was 206.3 GWh, up 125.5% [2] - The procurement prices for lithium iron phosphate systems ranged from 391.14 to 913.00 yuan/kWh, with significant price variations based on system duration [2] Policy and Market Reforms - In 2025, 869 new policies related to energy storage were released, a 13% increase year-on-year, indicating a high level of policy activity [3] - The "14th Five-Year" planning goals for new energy storage across provinces exceed 91.6 GW, with most provinces having met their targets [3] - The market is transitioning towards a more market-oriented approach, with commercial energy storage expected to gradually move towards market participation [3] Future Outlook - The commercial energy storage sector is expected to maintain stable growth, with a shift from fixed price arbitrage to a more diversified revenue model [4] - The revenue structure for energy storage is anticipated to transform significantly, with energy arbitrage becoming the dominant revenue source [5] - The average duration of new energy storage installations is projected to increase from 2.58 hours in 2025 to 3.47 hours by 2030, reflecting advancements in technology and market demand [6]

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） 海外監管公告 此海外監管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條發出。 茲載列中國中車股份有限公司（「本公司」）在上海證券交易所網站刊登的《中國中車股 份有限公司關於全資子公司向其參股公司提供擔保的進展公告》，僅供參閱。 承董事會命 中國中車股份有限公司 董事長 孫永才 中國 • 北京 2026年1月22日 於本公告日期，本公司的執行董事為孫永才先生及王銨先生；獨立非執行董事為王 西峰先生、魏明德先生、楊家義先生及張振戎先生；非執行董事為范冰先生；職工 董事為易冉女士。 | 证券代码：601766（A | 股） | 证券简称：中国中车（A | 股） 公告编号：2026-002 | | --- | --- | --- | --- | | 证券代码： ...

| 证券代码：601766（A | 股） | 证券简称：中国中车（A | 股） | | --- | --- | --- | --- | | 证券代码： 1766（H | 股） | 证券简称：中国中车（H | 股） | | | | | 公告编号：2026-002 | 中国中车股份有限公司 关于全资子公司向其参股公司提供担保的进展公告 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法律责任。 重要内容提示： 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | | | 实际为其提供的 | | 是否在前 | 本次担保 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 担保余额（不含 | | 期预计额 | 是否有反 | | | | | | 本次担保金额） | | 度内 | 担保 | | Metro Trains | 合计约 亿澳 | 0.32 | 合计约 4.15 | | 亿澳 | | | | West Pty Ltd | 元（折合人民币 | | | 元（折合人民币 ...

中国中车公告称，为项目需要，其全资子公司中国中车（香港）有限公司近日向银行申请开具3笔交付 履约保函，为参股的澳洲项目公司MetroTrainsWestPtyLtd提供担保，金额约0.32亿澳元（折合人民币约 1.51亿元），担保期限自2026年1月22日起分别至2032 - 2034年9月10日。截至公告披露日，公司及其下 属子公司对外担保总额为591.24亿元，占2024年末经审计净资产的35.03%，无逾期担保情况。 ...

证券之星消息，1月22日轨交设备板块较上一交易日上涨0.89%，中国铁物领涨。当日上证指数报收于 4122.58，上涨0.14%。深证成指报收于14327.05，上涨0.5%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601766 | 中国中车 | 6.73 | -1.46% | 235.89万 | 16.02亿 | | 688367 | 工大高科 | 35.68 | -1.25% | 4.83万 | 1.76亿 | | 603500 | 祥和实业 | 13.70 | -0.80% | 12.02万 | 1.65亿 | | 600528 | 中铁丁业 | 8.52 | -0.58% | 14.37万 | 1.23亿 | | 688015 | 交控科技 | 24.65 | 0.20% | 1.85万 | 4582.96万 | | 300960 | 通业科技 | 26.03 | 0.35% | 1.12万 | 2904.99万 | | 688459 | 哈铁科技 ...

Summary of China Industrials 2026 Outlook Industry Overview - **Industry**: China Industrials - **Core Themes**: AI technology diffusion, industrial upgrades, and globalization are central to the industrial sector's recovery in 2026. The government is focused on enhancing productivity through equipment upgrades, particularly in high-end equipment [1][4]. Key Insights - **Industrial Cycle**: The industrial cycle is characterized by strong global demand for capital goods, driven by AI technology applications and supply chain security concerns. China's trend of localizing high-end equipment remains strong, with specific sectors like data centers, electronics, and robotics expected to show growth, while processing markets may experience muted demand [3][10]. - **AI Applications**: 2026 is anticipated to mark the beginning of significant capital expenditure on physical AI, which will benefit automation and robotics companies. The government is supporting this through initiatives aimed at increasing the deployment of AI-powered robotics [4][11][12]. - **Localization and Supply Chain**: The localization rates for automation and industrial robots are projected to rise, with expectations of reaching 60-70% by 2030. This trend is expected to benefit companies involved in automation and precision components [21][22][23]. Market Dynamics - **Overseas Expansion**: Equipment exports from China have grown significantly, outpacing overall export growth. Companies are motivated to expand into international markets to capture larger total addressable markets (TAM) and improve margins [24][25]. - **Margin Expansion**: The overall net margin for China's industrials is expected to increase from approximately 13.0% in 2025 to around 14.6% in 2027, driven by overseas growth and advancements in AI technology [26][27]. Stock Recommendations - **Preferred Stocks**: The report highlights several stocks that are expected to benefit from cyclical strength and structural tailwinds, including: - **Geekplus (2590.HK)**: OW - **Sany Heavy (600031.SS)**: OW - **Leaderdrive (688017.SS)**: OW - **Han's Laser (002008.SZ)**: OW - **Inovance (300124.SZ)**: OW - **Hengli (601100.SS)**: OW - **Wuxi Lead (300450.SZ)**: OW - **Envicool (002837.SZ)**: OW - **Underweight Stocks**: Stocks such as **CSCEC (601668.SS)**, **CRRC-H (1766.HK)**, and **Maxwell (300751.SZ)** are rated as underweight due to various market challenges [5][8][46]. Additional Considerations - **Geopolitical Factors**: The geopolitical landscape is influencing supply chain security, which is a critical factor for capital goods demand globally [3]. - **Investment in AI**: The anticipated investment in AI infrastructure is expected to redefine smart manufacturing and create new opportunities within the industrial sector [10][11]. - **Sector Performance**: The report indicates that most industrial stocks are trading at or above their historical five-year average P/E ratios, reflecting a positive outlook for continuous upgrades and AI-related demand [26][38]. This comprehensive analysis provides insights into the expected recovery and growth opportunities within the China Industrials sector for 2026, highlighting key themes, market dynamics, and stock recommendations.

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688367 | 工大高科 | 36.13 | 8.50% | 6.31万 | | 2.22亿 | | 300594 | 朗进科技 | 24.47 | 8.42% | 7.22万 | | 1.73亿 | | 603500 | 祥和实业 | 13.81 | 2.91% | 7.35万 | | 1.00亿 | | 300011 | 鼎汉技术 | 86'8 | 2.39% | 19.76万 | | 1.77亿 | | 688485 | 九州一轨 | 20.41 | 2.10% | 2.87万 | | 5841.78万 | | 688187 | 时代电气 | 57.80 | 1.60% | 9.65万 | | 5.53亿 | | 002972 | 科安达 | 12.39 | 1.39% | 3.49万 | | 4291.61万 | | 300923 | 研奧股份 | 27.58 | 1.36% | 1.34万 | | 3673.03万 | ...

新中国成立后，一穷二白、百业待兴。又是一家家企业，响应号召、自力更生，起高炉、修电站、造汽 车，用日复一日的耕耘建立起比较完整的工业体系。 建船队、挖煤矿、筑铁路、兴办电力通信，鸦片战争以降，无数仁人志士发愤图强，先后创办一批工矿 企业，奠定近代中国工业基础。 从开启近代中国航运业先河的"伊敦"轮，到为新中国航运事业打下基础的"海辽"轮，从伴随改革开放大 潮诞生的"明华"轮，再到代表新质生产力发展方向的"新伊敦"轮……招商局的"四艘船"里，有百年老企 的艰辛跋涉，也写着中国企业的历史、当下与未来。 中国企业有着光辉的历史。 改革开放后，对生产力的束缚被进一步打破，国有企业焕发新机，个体工商户、乡镇企业、民营企业蓬 勃兴起。广大企业一道创新产品、开拓市场，助力中国成为全球第二大经济体、第一制造业大国。 时序更替、岁月流转，有的企业在风云变幻中隐入历史尘烟，也有不少企业百折不挠、基业长青。所有 那些为民族复兴奋斗过、为国计民生贡献过、为实现自身价值而努力过的企业，都值得铭记与尊敬。正 是靠着一代代人赓续传承、接力拼搏，实业强国的梦想一步步更近了！ 中国企业有着精彩的当下。 2026年新年伊始，中国汽车产业传出好消 ...

证券之星消息，1月20日轨交设备板块较上一交易日上涨0.77%，工大高科领涨。当日上证指数报收于 4113.65，下跌0.01%。深证成指报收于14155.63，下跌0.97%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 688367 | 工大高科 | 33.30 | 5.05% | 5.22万 | 1.74亿 | | 920027 | 交大铁发 | 23.70 | 3.77% | 2.62万 | 6125.12万 | | 603500 | 祥和实业 | 13.42 | 2.60% | 11.07万 | 1.48亿 | | 600528 | 中铁丁业 | 8.52 | 1.67% | 26.52万 | 2.25亿 | | 688015 | 交控科技 | 24.50 | 1.62% | 4.23万 | 1.04亿 | | 601766 | 中国中车 | 6.90 | 1.47% | 128.19万 | 8.80亿 | | 605001 | 威奧股份 | 8.15 ...