（原标题：寻找"受尊敬"企业系列报道之五：1.62万亿元研发投入构筑A股上市公司发展"护城河"） 科技是第一生产力，科技创新成为现阶段转型发展的关键。当前，我们正经历百年未有之大变局，这个变局的"始作俑者"就是日新月异的科技进 步。今天，以新一代信息技术、机器人、人工智能、生命科学、新能源等为代表的科技革命正重塑产业、经济格局，科技竞争已经成为各方博弈 的重要方面。 对于企业而言，科技创新不仅是评价一个企业综合实力以及保持高质量发展的重要指标和核心推动力，还是衡量一个企业能否受到普遍尊敬，以 及能否负责任地扛起行业创新大旗的重要体现。由经济观察报主办的2024—2025年度"寻找'受尊敬'企业"征集评选工作以"智创未来，向新而行"为 主题，也彰显了科技创新的独特分量。 从公司来看，比亚迪（002594.SZ）2024年以531.95亿元研发费用居首，研发投入同比增加超过百亿元，被称为"研发之王"；中国电建 （601669.SH）2024年研发投入242.5亿元，排在第二位；中国石油（601857.SH）、宁德时代（300750.SZ）、美的集团（000333.SZ）、中国中车 （601766.SH）、中国石化 ...

（编辑 任世碧） 证券日报网讯 9月30日晚间，时代新材发布公告称，公司于2025年9月30日收到公司控股股东中车株洲 电力机车研究所有限公司（简称"中车株洲所"）《关于筹划株洲时代新材料科技股份有限公司股权划转 的函》，为落实国务院国有资产监督管理委员会（简称"国务院国资委"）层级压减相关工作要求，理顺 股权关系，中车株洲所决定将其持有的公司部分股份划转给中国中车股份有限公司（简称"中国中 车"）。本次划转完成后，中国中车将成为公司的控股股东（划转前后中国中车通过直接和间接方式合 计持有公司的股权比例不变），公司的实际控制人仍为中国中车集团有限公司，最终实际控制人仍为国 务院国资委。公司控制权不会发生变化。本次国有股权划转不会对公司的正常生产经营产生影响。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01766 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,371,066,040 | RMB | | 1 | RMB | | 4,371,066,040 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,371,066,040 | RMB | | | 1 RMB | | 4,371,066,040 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | ...

Market Overview - On September 30, the rail transit equipment sector rose by 0.89% compared to the previous trading day, with Tianyi New Materials leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance - Key stocks in the rail transit equipment sector showed varied performance, with Tianyi New Materials (688033) closing at 7.19, up 8.77% with a trading volume of 568,500 shares and a turnover of 401 million yuan [1] - Other notable performers included: - China CRRC (601766) at 7.47, up 1.77%, with a trading volume of 1,758,600 shares and a turnover of 1.326 billion yuan [1] - Times Electric (688187) at 52.63, up 1.74%, with a trading volume of 106,200 shares and a turnover of 559 million yuan [1] Capital Flow - The rail transit equipment sector experienced a net outflow of 51.8466 million yuan from institutional investors, while retail investors saw a net inflow of 30.6624 million yuan [2] - The capital flow for key stocks included: - China CRRC had a net outflow of 42.9406 million yuan from institutional investors [3] - Times Electric saw a net inflow of 11.2494 million yuan from institutional investors [3] - Tianyi New Materials experienced a net inflow of 9.6395 million yuan from retail investors [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國中車股份有限公司 呈交日期: 2025年9月30日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01766 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,371,066,040 | RMB | | 1 | RMB | | 4,371,066,040 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 4,371,066,040 | RMB | | | 1 RMB | | 4,371,066,040 | II. 已發行 ...

Core Viewpoint - China CRRC Corporation Limited (01766) has seen a stock increase of over 4%, currently at 6.1 HKD, with a trading volume of 73.42 million HKD, following the announcement of several significant contracts totaling approximately 54.34 billion RMB [1][2][3] Group 1: Contract Details - The company’s subsidiary in the high-speed train sector signed sales contracts with China National Railway Group totaling approximately 37.82 billion RMB [1] - The locomotive subsidiary entered into sales and maintenance contracts with China National Railway Group, Daqin Railway Co., Ltd., and Luxembourg Nexrail AssetCo S.à.r.1., amounting to about 9.45 billion RMB [1] - Contracts for urban rail vehicle sales and maintenance were signed with Changchun Metro Co., Shenyang Metro Group, and Buenos Aires Subterraneos, totaling around 3.48 billion RMB [1] - The freight subsidiary signed sales contracts with China National Railway Group worth approximately 2.48 billion RMB [1] - Additionally, the freight subsidiary signed repair contracts with various railway bureaus under China National Railway Group, totaling about 1.11 billion RMB [2] Group 2: Financial Impact - The total value of these contracts represents approximately 22% of the company's projected revenue for 2024 under Chinese accounting standards [3]

在中车青岛四方机车车辆股份有限公司总装调试厂房内，时速600公里高速磁浮、复兴号CR400AF-S智 能动车组、CINOVA H2氢能源智能城际市域动车组……一列列代表世界先进水平的轨道列车如同整装 待发的钢铁巨龙，静默中蕴藏着澎湃动能。日前，中国证券报记者走进被誉为中国高铁梦工厂的中车四 方，感受中国轨道交通从跟跑到并跑再到领跑的跃迁轨迹，近距离探寻这些国之重器背后的创新密码。 ● 本报记者 刘丽靓 中国速度领跑全球 来到宽敞的总装调试厂房区域，仿佛进入了一个轨道交通的未来世界，代表国内乃至全球先进水平的列 车在这里集中亮相。 最引人注目的，便是那列贴地飞行的黑科技——时速600公里高速磁浮列车。蓝银相间的流线型车身在 灯光下泛着冷冽的金属光泽，未来感十足。它静静地悬浮于轨道之上，一旦启动就能够实现全程无接触 运行。 "这款具有完全自主知识产权的列车能够快起快停，只需3分半钟即可实现从0加速到时速600公里，加速 距离仅为22公里。"中车四方高速磁浮技术专家类延霄介绍道，该列车采用"车抱轨"的结构形式，没有 脱轨风险，具备GOA3级自动驾驶能力，所有控制均由地面运控系统完成。它填补了轮轨高铁与航空飞 机之间 ...

Market Performance - The three major A-share indices collectively rose on September 29, with the ChiNext Index increasing by 2.74% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 21,781.43 billion yuan, an increase of over 12 billion yuan compared to the previous trading day [1] - More than 3,500 stocks closed higher, with 68 stocks hitting the daily limit up [1] Sector Performance - The leading sectors included metals such as zinc, nickel, and lead, while sectors like pork and military equipment restructuring saw significant declines [2] Institutional Ratings - A total of 21 buy ratings were issued by institutions today, covering 20 stocks, with three stocks receiving target price forecasts [3] - Stocks with buy ratings from institutions averaged a rise of 2.34%, outperforming the Shanghai Composite Index [4] Stock Highlights - Notable stocks that rose today included Lingyi Zhi Manufacturing and New Australia Holdings, with significant gains [5] - The top gainers included Feilihua, Luzhou Laojiao, and Huhua Electric, with increases of 5.24%, 4.3%, and 3.18% respectively [5] Institutional Buying and Selling - In the Dragon and Tiger list, 12 stocks saw net buying from institutions, with Tianqi Materials and Chuling Information receiving over 100 million yuan in net purchases [6] - The top net buying amounts included Tianqi Materials at 1 billion yuan and Lingyi Zhi Manufacturing at 987.78 million yuan [6] - Among the stocks sold by institutions, New Light Optoelectronics faced the highest net selling at 144 million yuan [7] Northbound Capital - Northbound funds saw net buying in 11 stocks, with Lingyi Zhi Manufacturing and Tianqi Materials leading the way [7] - Three stocks experienced net selling from northbound funds, with Wanxiang Qianchao facing a net sell of 105 million yuan [8] Company Announcements - Jingye Intelligent plans to acquire a 51% stake in Hefei Shengwen Information Technology for 1.08 billion yuan, aiming to enhance its military industry strategy [9] - Walton Technology is in the proposal stage for a project to enhance membrane materials and components, subject to internal approvals and market conditions [9] - ST Mingjiahui has received a court ruling for restructuring, which may lead to delisting risks if the restructuring fails [10] - Huayou Cobalt's subsidiary signed a supply agreement with LG Energy Solution for 76,000 tons of ternary precursor products from 2026 to 2030 [11] - China CRRC announced several major contracts totaling approximately 543.4 billion yuan, representing 22% of its projected 2024 revenue [11] - ST Mubang's actual controller is under investigation by the China Securities Regulatory Commission for failing to disclose non-operating fund transactions [11]

Core Insights - China CRRC celebrated its 10th anniversary since restructuring, emphasizing its commitment to brand development and high-quality growth in the rail transportation equipment industry [2] - The company introduced the "Dingxin" brand value contribution management model and the "Zhuolun" AI model, aiming to enhance brand value management through data-driven approaches [2] - The publication of "A Brief History of CRRC" highlights the company's 144-year journey and its role in the development of China's rail transportation industry [3] Brand Development Strategy - China CRRC has implemented a brand-led strategy, integrating brand value enhancement into all operational processes, which has strengthened its core competitiveness [4] - The "Xingchi Science Popularization" project aims to promote advanced equipment technology and green living concepts, further enhancing brand value [4] - The company has achieved significant milestones, including the development of the "Fuxing" series trains, which cover speed ranges from 160 km/h to 400 km/h, marking a transition from "catching up" to "leading" in the industry [4] Future Goals - By 2035, China CRRC aims to establish itself as a world-class brand characterized by product excellence, innovation leadership, and modern governance, enhancing its reputation in high-end equipment manufacturing [5]

（文章来源：证券日报） 证券日报网讯 9月29日晚间，中国中车发布公告称，公司及下属企业于近期（主要为2025年7月至2025 年9月）签订了若干项重大合同，合计金额约543.4亿元人民币。 ...