Jin Rong Jie·2025-08-21 03:24Core Viewpoint - China CRRC (01766) shares rose over 4%, reaching HKD 6.07 with a trading volume of HKD 73.1552 million, following the announcement of a new procurement project by the China State Railway Group for high-speed trains [1] Group 1: Procurement Announcement - On August 19, the China State Railway Group released a tender for the second batch of 350 km/h Fuxing intelligent train sets for 2025, which includes 108 sets of 8-car standard trains, 30 sets of 8-car cold-resistant trains, and 72 sets of 16-car standard trains, totaling 210 standard sets [1] - The tender for the second batch of train sets exceeded expectations, with a total of 278 sets of 350 km/h train sets tendered this year, including 68 sets in April and the current 210 sets [1] - Last year, the total tendered train sets by the China State Railway and local railways amounted to 265.5 sets, indicating continued growth in the current year [1] Group 2: Maintenance and Repair Tenders - This year, the China State Railway has conducted two tenders for advanced repairs of train sets, totaling 663.5 sets, which includes 90.25 sets for level three repairs, 235.25 sets for level four repairs, and 338 sets for level five repairs [1] - The number of tenders for advanced repairs is slightly lower than the same period last year, but the overall tendering activity aligns with previous expectations for high levels of new train set construction and advanced repairs in 2025 [1]