智通财经网·2025-10-02 03:55Core Viewpoint - CITIC Securities has given a "outperform" rating to Times Electric (03898), highlighting strong order growth and a favorable market outlook for the company [1] Group 1: Company Performance - Times Electric announced a total new order value of 54 billion RMB for the period from July to September, which includes 37.8 billion RMB from the sale of high-speed trains [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, along with an upcoming railway equipment maintenance cycle, is expected to drive sustainable growth in the railway business for Times Electric over the next three years [1]