Zhi Tong Cai Jing·2025-08-27 09:06Group 1 - Goldman Sachs raised the target price for CRRC Corporation Limited (H-shares) from HKD 6.2 to HKD 6.8, maintaining a "Buy" rating; the target price for A-shares increased from CNY 5.7 to CNY 6.2, maintaining a "Neutral" rating [1] - For Times Electric (H-shares), the target price was raised from HKD 35.3 to HKD 37, maintaining a "Buy" rating; the target price for A-shares increased from CNY 48.7 to CNY 51, maintaining a "Neutral" rating [1] - Both CRRC and Times Electric's performance in the first half of the year met expectations, with a stable but differentiated pattern in railway and emerging businesses [1] Group 2 - The bidding volume for multiple units (MU) and locomotives reached 278 standard trains and 455 units, exceeding previous expectations of 230 standard trains and 400 units, providing substantial support for the group's annual profitability [1] - Earnings per share (EPS) forecasts for CRRC for 2025 to 2030 were raised by 8% to 12%; for Times Electric, EPS forecasts for 2026 to 2030 were increased by 4% to 7%, although the 2025 forecast was slightly lowered by 1% due to lower-than-expected profit margins [1]