Zhi Tong Cai Jing·2025-09-30 03:47Core Viewpoint - The stock of Times Electric (03898) has risen over 4%, driven by significant growth in its rail transit business and the upcoming capacity release in emerging sectors [1] Group 1: Rail Transit Business - The second round of bidding for CRRC's new train sets has reached 210 units, in addition to the 68 units from the first round, totaling 278 units, which is a 13.5% increase compared to the 245 units planned for the entire year of 2024 [1] - The National Railway Administration aims to phase out old diesel locomotives by 2027, which is expected to drive growth in railway equipment as related regulations are gradually introduced [1] - The urban rail sector is recovering due to reduced local debt pressures, leading to improved profitability in subways and regional railways, indicating an overall upward trend in the company's rail transit business [1] Group 2: Emerging Business Prospects - The power semiconductor segment in Zhuzhou has reached full operational capacity, while the Yixing Phase III project is set to be fully operational by the end of 2024 [1] - The production capacity of medium and low-voltage devices is continuously increasing, with the Zhuzhou Phase III project currently under construction and expected to be operational by 2026 [1] - The rapid growth in power semiconductor capacity is anticipated with the upcoming launches of the Yixing Phase III and Zhuzhou Phase III projects [1]