轨交设备Ⅱ：重庆东站进入静态验收阶段，西延高铁全线隧道贯通

Investment Rating - The industry rating is "Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [14]. Core Insights - The largest high-speed rail hub in Western China, Chongqing East Station, has entered the static acceptance phase, marking the completion of its construction [3]. - The Xi'an to Yan'an high-speed railway has successfully completed the tunneling of the Tongchuan tunnel, indicating that all tunnels for the line are now complete [4]. - The Chinese government has set ambitious targets for railway mileage, aiming for 165,000 kilometers by 2025 and approximately 200,000 kilometers by 2035, which is expected to create significant market opportunities for the rail transit equipment industry [5]. Summary by Sections Project Developments - Chongqing East Station, with a total construction area of approximately 1.23 million square meters and a scale of 15 platforms and 29 tracks, is a key hub in the national high-speed rail network [3]. - The Xi'an to Yan'an high-speed railway's Tongchuan tunnel, a challenging engineering project, has a length of 11,098 meters and is now fully completed [4]. Market Opportunities - The "14th Five-Year Plan" outlines a goal for the railway operating mileage to reach 165,000 kilometers by 2025, with high-speed rail accounting for 50,000 kilometers. To meet the 2035 target of 200,000 kilometers, approximately 35,000 kilometers of railway, including 20,000 kilometers of high-speed rail, need to be constructed from 2026 to 2035 [5]. Recommended Companies - China CNR Corporation: A leading global supplier of rail transit equipment, maintaining a strong industry position [5]. - China Railway Signal & Communication Corporation: A global leader in rail transit control systems [5]. - Times Electric: A leading supplier of traction and conversion systems, consistently leading the domestic market [5]. - Sifang Control: A core supplier in the field of high-speed rail comprehensive monitoring [5]. - China High-speed Rail Technology: A leading enterprise in intelligent operation and maintenance equipment for rail transit [5]. - Brilliant Technology: Provides integrated solutions for rail transit operation and maintenance, with rich experience in technology development and project implementation [5].