Zhi Tong Cai Jing·2025-08-27 06:56Core Viewpoint - Goldman Sachs reports that the performance of China CRRC (601766) and Times Electric (03898) in the first half of the year is generally in line with guidance, showing a mixed but stable status in railway and emerging businesses [1] Group 1: Company Performance - Goldman Sachs raised the target price for CRRC's H-shares from HKD 6.2 to HKD 6.8 and for Times Electric's H-shares from HKD 35.3 to HKD 37, maintaining a "Buy" rating for both [1] - The Ministry of Railways has cumulatively tendered for 278 high-speed trains and 455 EMUs this year, exceeding Goldman Sachs' forecasts of 230 and 400 respectively, which is expected to provide solid support for the companies' annual profits [1] Group 2: Earnings Forecasts - The earnings per share (EPS) forecast for CRRC from this year to 2030 has been raised by 8% to 12% [1] - The EPS forecast for Times Electric from 2026 to 2030 has been increased by 4% to 7%, although the EPS forecast for this year has been reduced by 1% due to lower-than-expected profit margins [1]