智通财经网·2025-10-02 03:52Core Viewpoint - CITIC Securities has given a "outperform" rating to Times Electric (03898), highlighting strong order growth and market demand for high-speed trains in China [1] Group 1: Company Performance - Times Electric announced a total of 54 billion RMB in new orders from July to September, including 37.8 billion RMB from high-speed train sales [1] - The sales from high-speed trains are attributed to the second batch of high-speed train tenders released by China National Railway Group on August 19 [1] Group 2: Industry Trends - As of this year, a total of 278 high-speed train units have been tendered, surpassing the total of 247 units from the previous year, indicating strong demand for rail passenger transport and replacement needs [1] - The stable tendering momentum from China National Railway Group and the upcoming railway equipment maintenance cycle are expected to drive sustainable growth in Times Electric's railway business over the next three years [1]