9月28日至29日，北京上市公司协会(下称"协会")组织会员单位走进轨道交通装备制造类央企中国中车（601766）股份有限公司(下称"中国中车")，开展 以"并购重组与做强做大做优"为专题的第二场调研座谈活动。 协会秘书长李洪海在会上表示，并购重组是资本的重新组合，是产业的深刻整合，是企业发展的战略重塑。他呼吁上市公司抓住机遇，积极作为，在并购重 组的道路上取得优异成绩。 本次活动由北京证监局指导，协会主办，中国中车承办，北京上市公司董事会秘书、证券事务代表等40余人参加活动。活动以"调研参观+座谈交流"的形式 开展。 走进中国中车 并购重组与做强做大做优 "并购重组是资本的重新组合，是产业的深刻整合，是企业发展的战略重塑。"李洪海在29日召开的座谈会致辞时表示。 李洪海表示，并购重组可以发挥驱动资源优化配置，重塑市场竞争格局，打通增长关键脉络的重要作用；并购重组可以产生点燃创新活力火花，释放协同增 效潜力的重要影响；并购重组具备为产业升级注入动能，为市场活力添薪加火，为企业未来开辟新航道的重要意义。 座谈会上，中国中车董事会秘书对与会上市公司代表表示热烈欢迎。中国中车下属三家子公司——中车株机、中车株洲所、 ...

中车四方文化科技馆由历史文化馆和科技体验馆两部分组成。历史文化馆以四方机厂百年发展历程为线 索，系统呈现中国铁路工业的发展脉络，展示历史文化、红色文化、工业文化、创新文化与精益文化， 展馆通过实物展品、影像资料和互动装置，再现早期工人运动的热血场景，讲述铁路人艰苦奋斗、敬业 奉献、精益求精的精神故事，让观众在回望历史中感受工业文明的积淀。 展馆所在的中车四方智汇港园区依托工业遗产保护、城市更新与中车产业优势，吸引文化科技领域优质 企业集聚，构建文化+科技+制造产学研用协同创新体系，为工业文旅的长效发展提供支撑。 中证报中证网讯(记者刘丽靓)9月28日，中国中车（601766）首个工业文旅项目——中车四方文化科技 馆在青岛启幕。该馆是中国首个以"高铁"为主题的探索互动型科技展馆，不仅是速度密码的探索地，更 是尖端技术与中国精神的交融场，为全球游客打开了一扇近距离感知中国高铁魅力、读懂中国工业文明 的全新窗口。 科技体验馆以"高铁科技"为主题，以"点燃少年探索之火"为目标，将复杂的工程原理转化为生动的互动 体验。展馆设置了"极创领跑""极速之梦""极效智造""极致探秘""极达未来"和"火车乐园"等展厅，涵盖 高铁 ...

Core Insights - China CRRC (601766) celebrated the 10th anniversary of its reorganization by launching the "Zhuolun" AI model, marking a significant step in integrating AI into the manufacturing sector [1] - The "Zhuolun" AI model is the first industrial AI model in China that deeply integrates the entire equipment manufacturing chain, covering design, manufacturing, operation, maintenance, and safety [1] - The company is addressing challenges in industrial AI, such as low-quality data, customized scenarios, model opacity, and talent scarcity [1] Group 1 - The "Zhuolun" AI model will be officially launched in December 2024 and has already produced multiple products for application [1] - The industrial AI sector is a core battlefield in the ongoing "AI+" initiative, highlighting its importance in the current technological landscape [1] Group 2 - China CRRC employs a strategy of integrating large and small models to leverage their respective advantages, ensuring high precision and reliability [2] - The company promotes a mixed model approach, allowing for the decoupling and adaptation of various closed-source models on a single platform for maximum capability [2] - The strategy includes a comprehensive pathway from "cloud training" to "lightweight packaging" and "edge deployment," ensuring vertical integration of AI technology supply and application demand [2]

Core Viewpoint - China CRRC Group and China Orient Asset Management are strengthening their collaboration in financial and industrial integration, focusing on clean energy equipment and technological innovation [1] Group 1: Collaboration Details - The meeting between the leaders of China CRRC and China Orient Asset Management emphasized the importance of deepening cooperation in areas such as asset revitalization and enterprise financial services [1] - Both companies recognize their complementary resources, with China Orient Asset Management committed to supporting the high-quality development of China CRRC [1]

Market Overview - On September 26, the rail transit equipment sector declined by 0.37% compared to the previous trading day, with Yonggui Electric leading the decline [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Individual Stock Performance - Notable gainers in the rail transit equipment sector included: - Shenzhou Gaotie (Code: 000008) with a closing price of 2.90, up 2.84% on a trading volume of 1.2253 million shares and a transaction value of 357 million yuan [1] - XD Weiao (Code: 605001) closed at 7.44, up 1.64% with a trading volume of 66,400 shares and a transaction value of 49.3689 million yuan [1] - Kanni Electromechanical (Code: 603111) closed at 8.04, up 1.01% with a trading volume of 107,700 shares and a transaction value of 86.3257 million yuan [1] - Major decliners included: - Yonggui Electric (Code: 300351) closed at 17.79, down 2.57% with a trading volume of 96,900 shares and a transaction value of 174 million yuan [2] - Zhonghe Technology (Code: 000925) closed at 8.01, down 1.35% with a trading volume of 197,300 shares and a transaction value of 159 million yuan [2] - China CRRC (Code: 601766) closed at 7.32, down 0.95% with a trading volume of 757,000 shares and a transaction value of 557 million yuan [2] Capital Flow Analysis - The rail transit equipment sector experienced a net outflow of 74.0518 million yuan from institutional investors, while retail investors saw a net inflow of 54.5996 million yuan [2][3] - Key stocks with significant capital flow included: - Shenzhou Gaotie had a net inflow of 36.0983 million yuan from institutional investors, but a net outflow of 43.9351 million yuan from retail investors [3] - Times New Materials (Code: 600458) saw a net inflow of 29.3 million yuan from institutional investors, with a net outflow of 40.8737 million yuan from retail investors [3] - China CRRC had a net inflow of 13.3340 million yuan from institutional investors, but also faced a net outflow from retail investors [3]

Core Viewpoint - UBS maintains an optimistic stance on Chinese stocks, particularly favoring A-shares due to their relative valuation attractiveness, which is at a 30% discount compared to the MSCI World Index and aligns with historical averages [1] Industry Preferences - UBS is bullish on the AI theme, A-share brokerage firms, and high-dividend stocks [1] - The firm selectively supports the "anti-involution" theme, showing preference for sectors such as solar energy, chemicals, and lithium batteries [1] Preferred Stocks - UBS has listed its top picks for Chinese stocks, including A-shares such as Huatai Securities, Northern Huachuang, Yutong Bus, Kingsoft Office, Yangtze Power, and Small Commodity City, all rated as "Buy" [1] - For H-shares, the preferred stocks include China Mobile, Tencent, CRRC, and BYD, also rated as "Buy" [1] - ADRs highlighted by UBS include NetEase, Alibaba, and Global Data, all receiving a "Buy" rating [1]

Group 1 - The China Central Enterprises Innovation-Driven Index rose by 0.04% as of September 25, 2025, with notable increases in stocks such as Yunnan Copper (up 5.34%) and Lightway Technology (up 4.83%) [3] - The Central Enterprises Innovation-Driven ETF (515900) showed a recent price of 1.55 yuan, with a cumulative increase of 7.89% over the past three months, ranking in the top quarter among comparable funds [3] - The trading volume for the Central Enterprises Innovation-Driven ETF was 439.54 million yuan, with an average daily trading volume of 24.01 million yuan over the past year, leading among comparable funds [3] Group 2 - In August, the construction machinery operating rate was 43.42%, with excavator sales showing a recovery trend and double-digit growth in both domestic and international markets [4] - The demand for construction machinery is expected to continue growing due to favorable downstream factors such as hydropower projects and urban renewal actions, alongside a reduction in global tariff disruptions [4] - The Central Enterprises Innovation-Driven ETF saw a significant growth of 1.15 billion yuan in scale over the past three months, ranking in the top quarter among comparable funds [4] Group 3 - The top ten weighted stocks in the Central Enterprises Innovation-Driven Index as of August 29, 2025, include Hikvision, State Grid NARI, and Chang'an Automobile, collectively accounting for 33.39% of the index [4]

Core Points - The meeting between Shanxi Provincial Government and CRRC Group focused on high-quality development and modernization in Shanxi [1] - Both parties aim to enhance cooperation in various fields including rail transit equipment, green transportation, high-end motor manufacturing, new energy equipment, and AI+energy [1] - A specialized mechanism will be established to strengthen communication and project implementation, aligning with the 14th Five-Year Plan and promoting joint scientific research [1] Group 1 - The meeting was attended by key officials from both Shanxi Province and CRRC Group, including the provincial governor and the chairman of CRRC [1] - The collaboration will focus on comprehensive energy solutions and complete equipment supply [1] - Emphasis will be placed on technological innovation to drive industrial innovation and energy transition [1]

Market Overview - On September 24, the rail transit equipment sector rose by 0.44% compared to the previous trading day, with Gongda Gaoke leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Gongda Gaoke (688367) closed at 20.99, up 5.16% with a trading volume of 35,500 shares and a turnover of 74.22 million yuan [1] - Jiuzhou Yitui (688485) closed at 13.31, up 3.26% with a trading volume of 18,300 shares and a turnover of 24.03 million yuan [1] - Jiao Da Sino (300851) closed at 27.76, up 3.16% with a trading volume of 11,100 shares and a turnover of 30.46 million yuan [1] - Other notable stocks include Langjin Technology (300594) up 2.95%, Kanni Electromechanical (603111) up 2.14%, and Shidai New Materials (600458) up 1.91% [1] Capital Flow - The rail transit equipment sector saw a net inflow of 22.49 million yuan from institutional investors, while retail investors experienced a net outflow of 0.94 million yuan [2] - The main capital inflow and outflow for specific stocks include: - Shidai New Materials (600458) had a net inflow of 33.77 million yuan from institutional investors [3] - Zhonghe Technology (000925) had a net inflow of 22.86 million yuan from institutional investors [3] - However, Shidai New Materials also saw a significant outflow from retail investors amounting to 61.71 million yuan [3]

Group 1 - The core point of the article is that CRRC Datong Electric Locomotive Co., Ltd. has increased its registered capital from 656 million yuan to 1.14 billion yuan, representing an increase of approximately 74% [1] - The company underwent changes in some of its senior management [1] - CRRC Datong was established in February 2003 and is wholly owned by CRRC Corporation Limited, with its business scope including the manufacturing, design, and maintenance of railway locomotives and vehicles [1]