证券日报网讯12月30日，辉煌科技（002296）在互动平台回答投资者提问时表示，飞天联合为公司的参 股公司，主要产品为机上高速互联网系统和飞机驾驶舱宽带实时数据系统软硬件产品等。飞天联合的机 载卫星系统不支持星链。 ...

Core Viewpoint - The company, Huiguang Technology, will not have any overseas sales revenue in the first three quarters of 2025, focusing primarily on the domestic rail transit industry [1] Group 1: Company Focus and Clientele - The company has concentrated on the rail transit industry for many years, with major clients including the China National Railway Group and various local urban rail transit projects [1] - The company collaborates with leading domestic and international enterprises and general contractors in the industry [1] Group 2: Business Development Efforts - The company actively participates in domestic and international project bidding related to its products to secure more business opportunities [1] - The company aims to enhance its performance through these efforts [1]

（记者 王晓波） 每经AI快讯，有投资者在投资者互动平台提问：请问飞天联合的机载卫星系统支持星链吗？ 辉煌科技（002296.SZ）12月30日在投资者互动平台表示，飞天联合为公司的参股公司，主要产品为机 上高速互联网系统和飞机驾驶舱宽带实时数据系统软硬件产品等。飞天联合的机载卫星系统不支持星 链。 ...

Group 1 - The communication equipment sector increased by 0.48% on December 30, with DingTong Technology leading the gains [1] - The Shanghai Composite Index closed at 3965.12, showing no change, while the Shenzhen Component Index closed at 13604.07, up by 0.49% [1] - Notable gainers in the communication equipment sector included DingTong Technology, which rose by 10.28% to a closing price of 129.61, and Dongfang Communication, which increased by 10.03% to 16.89 [1] Group 2 - The communication equipment sector experienced a net outflow of 2.781 billion yuan from institutional investors, while retail investors saw a net inflow of 2.513 billion yuan [2] - The top individual stock performers in terms of net inflow included Tianfu Communication with a net inflow of 3.55 million yuan from institutional investors [3] - DingTong Technology had a net inflow of 79.2142 million yuan from institutional investors, despite a net outflow from retail investors [3]

Group 1 - The core viewpoint of the news is that Huiguang Technology has shown a significant increase in stock price and financial performance, indicating a positive market sentiment and growth potential [1][2]. - As of December 30, Huiguang Technology's stock price rose by 2.10% to 11.68 CNY per share, with a total market capitalization of 4.55 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 21.54%, with notable gains of 9.06% in the last five trading days and 8.85% over the past 20 days [1]. Group 2 - For the period from January to September 2025, Huiguang Technology achieved a revenue of 578 million CNY, representing a year-on-year growth of 21.81% [2]. - The net profit attributable to the parent company for the same period was 163 million CNY, reflecting a year-on-year increase of 20.94% [2]. - The company has distributed a total of 331 million CNY in dividends since its A-share listing, with 117 million CNY distributed over the past three years [3]. Group 3 - Huiguang Technology's main business involves the research, production, sales, installation, and maintenance of high-end rail transit equipment, with the revenue composition being 85.16% from monitoring products, 7.06% from signal basic equipment, 4.60% from operation management products, and 2.81% from integrated operation and maintenance information [1]. - The company is classified under the communication industry, specifically in communication equipment and network devices, and is associated with various concept sectors including small-cap stocks, railway infrastructure, security, and lottery [1].

Core Insights - The railway signaling system is a crucial component of rail transport, ensuring safe and efficient operations, with significant government support and investment in China [1][10] - The market size of China's railway signaling system industry is projected to grow from 10.71 billion yuan in 2017 to 24.81 billion yuan in 2024, with a compound annual growth rate (CAGR) of 12.75% [1][11] - The industry is evolving towards greater safety, efficiency, and intelligence, driven by advancements in communication and information technology [1][10] Industry Overview - The railway signaling system is essential for automated train control and real-time monitoring, comprising various devices such as interlocking systems, block systems, and train control systems [1][9] - The system's core functions include ensuring safety, improving transport efficiency, and enhancing working conditions [1][9] Industry Development Background - China's economic growth has provided a solid financial foundation for railway construction, with fixed asset investment in railways reaching 850.6 billion yuan in 2024, a year-on-year increase of 11.26% [8] - The demand for intercity and suburban railway construction continues to grow, creating vast market opportunities for the railway signaling system industry [8] Industry Chain - The upstream of the railway signaling system industry includes raw materials and components such as steel, aluminum, plastics, and electronic components [8] - The midstream involves system integration and equipment manufacturing, while the downstream includes railway construction units and transportation enterprises [8] Market Dynamics - The industry is characterized by a competitive landscape with domestic companies like China Railway Signal Co., Ltd. leading the market, while international firms like Siemens and Alstom maintain competitiveness in high-standard projects [11][12] - The market is driven by technological advancements, ecological cooperation, and accelerated domestic substitution [11] Future Trends - The future of the railway signaling system will focus on intelligence, integrating artificial intelligence, big data, and the Internet of Things for dynamic analysis and optimization [14] - Standardization efforts will aim to create a unified technical standard for railway signaling systems, facilitating interoperability and reducing lifecycle costs [15] - Safety and reliability will evolve towards resilient systems with proactive fault tolerance and real-time simulation capabilities [15]

Core Viewpoint - The report highlights the significant growth in China's railway locomotive production, with a projected increase in output and a strong year-on-year growth rate for 2025 [1] Group 1: Industry Overview - The railway locomotive production in China is expected to reach 137 units in October 2025, representing a year-on-year increase of 71.3% [1] - Cumulatively, the production of railway locomotives from January to October 2025 is forecasted to be 762 units, showing a cumulative growth of 23.9% [1] Group 2: Companies Involved - Listed companies in the railway locomotive sector include China CRRC (601766), China Railway (601390), China Railway Construction (601186), Jinxi Axle (600495), Taiyuan Heavy Industry (600169), Times New Material (600458), Shenzhou High-speed Railway (000008), Kanni Electromechanical (603111), Huihong Technology (002296), and Jinyi Industrial (601002) [1] Group 3: Research and Analysis - The report titled "2025-2031 China Railway Locomotive Industry Market Status Analysis and Future Outlook" was published by Zhiyan Consulting, a leading industry consulting firm in China [1] - Zhiyan Consulting has been dedicated to industry research for over a decade, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1]

资料显示，河南辉煌科技股份有限公司位于河南省郑州市高新技术产业开发区科学大道188号，成立日 期2001年11月15日，上市日期2009年9月29日，公司主营业务涉及轨道交通高端装备的研发、生产、销 售、安装和维护等。主营业务收入构成为：监控产品线85.16%，信号基础设备产品线7.06%，运营管理 产品线4.60%，综合运维信息化及运维装备2.81%，其他(补充)0.37%。 辉煌科技所属申万行业为：通信-通信设备-通信网络设备及器件。所属概念板块包括：壳资源、铁路基 建、小盘、储能、智慧城市等。 12月18日，辉煌科技盘中上涨2.06%，截至13:14，报10.41元/股，成交5693.44万元，换手率1.59%，总 市值40.56亿元。 资金流向方面，主力资金净流入281.22万元，特大单买入371.09万元，占比6.52%，卖出222.08万元，占 比3.90%；大单买入1021.48万元，占比17.94%，卖出889.27万元，占比15.62%。 辉煌科技今年以来股价涨8.32%，近5个交易日跌0.76%，近20日跌2.98%，近60日跌8.84%。 分红方面，辉煌科技A股上市后累计派现3.31亿元 ...

（文章来源：证券日报） 证券日报网讯 12月16日，辉煌科技在互动平台回答投资者提问时表示，公司近年来研发的铁路信号机 械室智能巡检系统目前已完成研发试点验证工作，后续公司将持续提升产品市场竞争力，加大市场推广 力度，努力获取市场订单。 ...

Core Viewpoint - The report highlights the growth in China's high-speed train production, indicating a significant increase in output and market potential for related companies in the industry [1]. Group 1: Industry Overview - As of October 2025, China's high-speed train production reached 97 units, marking a year-on-year increase of 136.6% [1]. - From January to October 2025, the cumulative production of high-speed trains in China totaled 1,524 units, reflecting a cumulative growth of 7.8% [1]. Group 2: Listed Companies - The report mentions several listed companies in the high-speed rail sector, including China CRRC (601766), China Railway Signal & Communication (688009), and others [1]. - These companies are positioned to benefit from the growing demand and production in the high-speed rail market [1]. Group 3: Market Research - The insights are derived from a report by Zhiyan Consulting, which provides strategic analysis and forecasts for the high-speed rail industry in China from 2026 to 2032 [1]. - Zhiyan Consulting is recognized as a leading industry consulting firm, specializing in comprehensive industry research and tailored consulting services [1].