Daqin Railway(SH:601006) Zhong Guo Jing Ying Bao·2025-10-22 00:09Core Insights - The national railway freight volume reached a record high of 3.912 billion tons in the first three quarters, marking a year-on-year increase of 2.8% [1] - In September alone, the freight volume was 445 million tons, up 4.2% year-on-year [1] - The transportation of key materials, such as coal and containers, showed significant growth, with coal transport at 232 million tons (up 2.5%) and container transport at 89 million tons (up 10.9%) in September [1] Group 1: Freight Volume Performance - The Daqin Railway's freight volume for the first three quarters was 286 million tons, a slight decrease of 0.2% year-on-year [1] - In September, Daqin Railway transported 33.05 million tons, reflecting a year-on-year increase of 3.3% [1] - The first eight months of the year saw a decrease of 0.6% in cumulative freight volume, while September showed a growth of 3.0% [1] Group 2: Maintenance and Future Projections - Daqin Railway is undergoing a concentrated maintenance phase starting in October, which includes replacing over 100 kilometers of tracks and more than 15,000 sleepers [2] - This maintenance is aimed at ensuring reliable coal transportation for the upcoming winter and spring seasons [2] - The projected freight volume for Daqin Railway during the winter of this year to spring of next year is expected to approach 500 million tons, with estimates of 485 million tons for the fourth quarter of 2024 and the first quarter of 2025 [2]