研报掘金丨中邮证券：今创集团上半年业绩爆发式增长，维持“增持”评级

Core Insights - The report from Zhongyou Securities indicates that Zhongchuang Group achieved a net profit attributable to shareholders of 367 million yuan in the first half of the year, representing a year-on-year increase of 149% [1] - The company's net profit after deducting non-recurring items reached 409 million yuan, marking a year-on-year growth of 195% [1] - The significant improvement in profitability is attributed to changes in product structure and effective cost control [1] Industry Outlook - As the final year of the 14th Five-Year Plan, the China National Railway Group plans to put into operation 2,600 kilometers of new railway lines in 2025, with 301 kilometers already completed in the first half of 2025 [1] - The majority of new line completions are expected to occur in the second half of the year [1] - By the time of the company's 2025 semi-annual report, the China National Railway Group had announced two batches of high-speed train tenders totaling 278 sets, surpassing the total of 265 sets for the entire year of 2024, indicating a sustained positive market demand [1] - The rating for the company is maintained at "Buy" [1]