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中信证券:在新藏铁路重大工程实施下,看好基建、民爆、水泥三条主线
Zheng Quan Shi Bao Wang·2025-08-11 00:40

Group 1 - The core viewpoint of the report is optimistic about the infrastructure, civil explosives, and cement sectors due to the implementation of the Xinjiang-Tibet Railway project [1] Group 2 - In the infrastructure sector, China Railway Fifth Survey and Design Institute Group Co., Ltd. has won the bid for geological survey supervision of the middle section of the Xinjiang-Tibet Railway, indicating strong order elasticity for state-owned enterprises in the region [1] - In the civil explosives sector, the overall supply is constrained, and the industry has a "strong short leg attribute," suggesting that the growth in Xinjiang's infrastructure will benefit leading companies with capacity transfer and local raw material enterprises [1] - In the cement sector, the Xinjiang-Tibet Railway is expected to drive a demand of approximately 40 million tons of cement, translating to an average annual demand of about 5 million tons over an 8-year construction period, significantly boosting cement consumption in Xinjiang and Tibet [1]