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。 本公司董事会及全体董事保证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、完整性承担法律责任。 中国中车股份有限公司（以下简称"公司"）第四届董事会第六次会议于 2026 年 1 月 23 日以书面形式发出通知，于 2026 年 1 月 28 日以现场与通讯相结合的 方式在北京召开。会议应到董事 8 人，实到董事 7 人；职工董事易冉女士因其他 公务未能亲自出席本次会议，委托执行董事王铵先生代其行使在本次会议上各项 议案的表决权和会议决议、会议记录等文件的签字权。公司部分高级管理人员及 有关人员列席了会议。本次会议的召开符合有关法律、行政法规 ...

中国中车股份有限公司（以下简称"公司"）第四届董事会第六次会议于 2026 年 1 月 23 日以书面形式发出通知，于 2026 年 1 月 28 日以现场与通讯相结合的 方式在北京召开。会议应到董事 8 人，实到董事 7 人；职工董事易冉女士因其他 公务未能亲自出席本次会议，委托执行董事王铵先生代其行使在本次会议上各项 议案的表决权和会议决议、会议记录等文件的签字权。公司部分高级管理人员及 有关人员列席了会议。本次会议的召开符合有关法律、行政法规、部门规章和《中 国中车股份有限公司章程》的有关规定。 会议由董事长孙永才先生主持，经过有效表决，会议形成以下决议： 一、审议通过《关于中国中车股份有限公司 2026 年度投资方案的议案》。 证券代码：601766（A 股） 股票简称：中国中车（A 股） 编号：2026-003 证券代码： 1766（H 股） 股票简称：中国中车（H 股） 中国中车股份有限公司 第四届董事会第六次会议决议公告 本公司董事会及全体董事保证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、完整性承担法律责任。 在提交本次董事会审议前，该议案已经公司第四届董 ...

Core Viewpoint - The report highlights the growth and production statistics of China's high-speed train industry, indicating a positive trend in the production of electric multiple units (EMUs) from 2020 to 2025, with a projected increase in output and cumulative production figures [1] Group 1: Industry Overview - By December 2025, the production of EMUs in China is expected to reach 304 units, representing a year-on-year growth of 4.1% [1] - The cumulative production of EMUs in China is projected to be 1,994 units by the end of 2025, reflecting a cumulative growth of 6.7% [1] Group 2: Companies Involved - Listed companies in the high-speed rail sector include China CRRC (601766), China Railway Signal & Communication (688009), and others such as Thinking Rail Control (603508) and Beijing-Shanghai High-Speed Railway (601816) [1] - The report is published by Zhiyan Consulting, a leading industry consulting firm in China, which specializes in providing in-depth industry research reports and strategic analysis [1]

中银证券鑫瑞6个月持有A（010170）成立日期2020年11月11日，最新规模2634.18万。今年以来收益 0.83%，同类排名8058/9018；近一年收益4.59%，同类排名7515/8192；成立以来收益10.61%。 中银证券鑫瑞6个月持有A（010170）基金经理为。 1月27日，中国中车跌1.53%，截至发稿，报6.44元/股，成交14.51亿元，换手率0.92%，总市值1848.21 亿元。中国中车股价已经连续5天下跌，区间累计跌幅6.67%。 资料显示，中国中车股份有限公司位于北京市海淀区西四环中路16号，成立日期2007年12月28日，上市 日期2008年8月18日，公司主营业务涉及公司主要从事铁路机车、客车、动车组、城轨地铁车辆及重要 零部件的研发、制造、销售、修理和租赁。主营业务收入构成为：铁路装备49.86%，新产业34.01%， 城轨与城市基础设施14.53%，现代服务1.60%。 从基金十大重仓股角度 数据显示，中银证券旗下1只基金重仓中国中车。中银证券鑫瑞6个月持有A（010170）三季度持有股数 3.4万股，与上期相比持股数量不变，占基金净值比例为0.53%，位居第二大重仓 ...

Market Overview - The Shanghai Composite Index rose by 0.33% on January 23, with 23 out of the 28 sectors experiencing gains. The leading sectors were electric power equipment and non-ferrous metals, with increases of 3.50% and 2.73% respectively. The machinery equipment sector also saw a rise of 1.31% [1] - In terms of capital flow, the main funds in the two markets experienced a net outflow of 8.576 billion yuan. However, 12 sectors saw net inflows, with the electric power equipment sector leading at a net inflow of 12.323 billion yuan, followed by non-ferrous metals with a net inflow of 5.432 billion yuan [1] Machinery Equipment Sector - The machinery equipment sector increased by 1.31%, with a total net outflow of 4.154 billion yuan. Out of 531 stocks in this sector, 384 rose, 12 hit the daily limit, and 130 fell. There were 222 stocks with net inflows, with 11 stocks having inflows exceeding 100 million yuan. The top stock for net inflow was Zhongkong Technology, with an inflow of 348 million yuan, followed by Aerospace Engineering and SANY Heavy Industry with inflows of 260 million yuan and 224 million yuan respectively [2] - The top gainers in the machinery equipment sector included Zhongkong Technology (up 7.46%), Aerospace Engineering (up 4.44%), and SANY Heavy Industry (up 1.64%). Other notable gainers included Meichang Co. (up 20.02%) and Zhengtai Power (up 10.00%) [2] - The sector also had significant outflows, with 10 stocks experiencing outflows exceeding 100 million yuan. The largest outflow was from Lio Co. at 2.601 billion yuan, followed by Fenglong Co. at 673 million yuan and CRRC Corporation at 606 million yuan [4]

Core Viewpoint - The railway transportation equipment sector experienced a decline of 0.57% on January 23, with China Railway Materials leading the drop. The Shanghai Composite Index rose by 0.33% to close at 4136.16, while the Shenzhen Component Index increased by 0.79% to 14439.66 [1]. Group 1: Market Performance - The railway equipment sector saw a mixed performance among individual stocks, with notable gainers including Tianzhixin Material, which rose by 5.41% to a closing price of 9.15, and Yonghui Electric, which increased by 3.09% to 19.33 [1]. - Conversely, China Railway Materials fell by 2.71% to a closing price of 2.87, marking the largest decline in the sector [2]. - The overall trading volume for the railway equipment sector was significant, with Tianzhixin Material achieving a transaction value of 478 million yuan and Yonghui Electric at 456 million yuan [1]. Group 2: Capital Flow - The railway equipment sector experienced a net outflow of 659 million yuan from institutional investors, while retail investors saw a net inflow of 395 million yuan [2]. - Among individual stocks, Xianghe Industry had a net inflow of 14.47 million yuan from institutional investors, while Dinghan Technology saw a net inflow of 11.89 million yuan [3]. - Notably, China Railway Materials had a significant net outflow of 22.81 million yuan from institutional investors, indicating a lack of confidence among larger investors [3].

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 ...

Core Viewpoint - China CNR Corporation announced that its wholly-owned subsidiary, China CNR (Hong Kong) Co., Ltd., has applied for three performance guarantees from banks to support its investment in the Australian project company MetroTrains West Pty Ltd, amounting to approximately AUD 0.32 billion (equivalent to about RMB 151 million) [1] Group 1 - The guarantees will be effective from January 22, 2026, and will last until September 10, 2032, to 2034 [1] - As of the announcement date, the total amount of external guarantees provided by the company and its subsidiaries is RMB 59.124 billion, which accounts for 35.03% of the audited net assets as of the end of 2024 [1] - There are no overdue guarantees reported by the company [1]