当地时间2026年2月1日，一声汽笛划破了撒哈拉沙漠的沉寂。 这并非一条普通的铁路。它需穿越环境极端的撒哈拉沙漠腹地，高温与风沙曾是这里的主宰。但中国建设者与当地民众并肩作战，仅用24个月便在荒原上 铺就了575公里轨道，创造了令世界惊叹的中国速度。作为中企在阿尔及利亚最大的基建工程，这不仅是物理上的贯通，更是心理上的契合——中国团队 用汗水赢得了当地人民的尊重，共同将不可能变为可能。 技术硬实力是这条铁路的底色。面对重载与高速的双重挑战，中国团队坚持技术引领，刷新了多项当地铁路建设纪录。最令人瞩目的是，项目首次实现了 32.5吨大轴重货车与120公里/小时客车共线运营的预应力混凝土轨枕设计。这一突破不仅解决了沙漠地质难题，更标志着拥有100%自主知识产权的中国铁 路技术，完成了从设计、制造到应用的全链条输出，让"中国标准"在北非落地生根。 由中国铁建参建的非洲首条沙漠重载铁路——阿尔及利亚西部矿业铁路正式通车。这条全长950公里的钢铁巨龙，其中575公里由中方建设，不仅是连接阿 尔及利亚东西部的运输大动脉，更是一带一路倡议在非洲大地上的生动注脚。 这并非一条普通的铁路。它需穿越环境极端的撒哈拉沙漠腹地，高温 ...

Core Insights - The completion of the continuous beam for the Qu-Li Railway's Qujiang Grand Bridge marks significant progress in the project, laying a solid foundation for subsequent construction [2][4][6] Group 1: Project Overview - The Qu-Li Railway, located in the southwestern part of Zhejiang Province, spans approximately 160 kilometers, divided into two phases: Quzhou to Songyang and Songyang to Lishui [2] - The Qujiang Grand Bridge is the longest bridge in the Qu-Li Railway's Qu-Song section, measuring about 10.6 kilometers, and is a key engineering component [2][4] Group 2: Engineering and Construction Techniques - The continuous beam that was completed spans 112 meters and crosses the Zhi Creek waterway, facing high safety risks and strict environmental requirements during construction [2] - The project team employed innovative techniques such as cantilever symmetrical pouring, along with smart tensioning and grouting systems, and remote video monitoring to ensure real-time monitoring and safety during construction [2][6] Group 3: Economic and Regional Impact - Upon completion, the Qu-Li Railway will connect multiple railways in the Quzhou area, enhancing the regional railway network and promoting the development of tourism resources in southwestern Zhejiang [2] - The railway is expected to accelerate high-quality economic and social development in the region [2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國鐵建股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01186 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,076,296,000 | RMB | | 1 RMB | | 2,076,296,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 2,076,296,000 | RMB | | 1 RMB | | 2,076,296,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | ...

Group 1 - The core viewpoint of the article highlights the performance of the Infrastructure ETF Huaxia (159635), which rose by 1.24% to 1.140 yuan with a trading volume of 8.1113 million yuan as of the midday close on February 3 [1] - The major holdings of the Infrastructure ETF Huaxia include several companies, with notable increases in stock prices: XCMG Machinery up 2.75%, Zoomlion up 4.40%, and Sany Heavy Industry up 2.20% [1] - The performance benchmark for the Infrastructure ETF Huaxia is the CSI Infrastructure Index return, managed by Huaxia Fund Management Co., Ltd. Since its establishment on June 28, 2022, the fund has achieved a return of 12.52%, with a monthly return of 0.75% [1]

修路先寻石—— 荒漠中勠力攻坚 在当天的通车仪式上，阿尔及利亚总统特本表示，在中企参与下，项目建设速度创下纪录，"感谢中国 朋友们克服艰难的自然条件，圆满完成项目建设"。 "撒哈拉沙漠的环境复杂多变，铁路施工极具挑战。"中国铁建阿尔及利亚西部铁路矿业线项目经理董琳 介绍，两年来，在最高温达50余摄氏度的撒哈拉沙漠中，中阿建设者在"无人、无水、无油、无信号"的 环境中书写着勠力攻坚的故事。 建设初期，项目就上演了一场"寻石之旅"。 修铁路为啥要寻石？"这是铁路建设顺利推进的关键一环。"董琳说，道砟是铁路路基的石子材料，项目 消耗量预计约360万吨。项目初期，当地仅探明一处可用料场，若依赖外购，不仅距离遥远、成本高 昂，供应稳定性也难以保障。经多方研判，项目团队决定自建道砟生产线，寻找合格的石源成为破局关 键。项目副总经理吴海城牵头组建踏勘团队，开启荒漠寻石之旅。"荒漠中无地标可循，迷路、抛锚、 陷车是常态，最远一次踏勘，直线距离超过40公里。"吴海城回忆说。 晨曦中的撒哈拉沙漠，铁轨在沙海间延展，宛如一条墨色长带。 在阿尔及利亚西部腹地，8000余名中阿建设者昼夜攻坚，终迎硕果。当地时间2月1日，中国铁建承建的 ...

非洲首条沙漠重载铁路——阿尔及利亚西部铁路矿业线项目1日全线正式通车。阿尔及利亚总统特本在 贝沙尔省举办的通车仪式上宣布项目正式投入运营。该铁路矿业线全长950公里，中国铁建与当地国有 企业承建其中的575公里，是中企在阿承建的最大基建工程。项目通车后将进一步完善阿尔及利亚国家 铁路网，助力阿西南部省份互联互通和经济发展。（新华社） ...

Investment Rating - The report rates the industry as "Buy" [1] Core Insights - The cleanroom market is expanding due to increased investment in high-tech industries, benefiting companies like Yaxiang Integration, with related companies including Shenghui Integration and Bocheng Co., Ltd. [3][4] - The real estate market is showing signs of marginal improvement, with significant potential for transformation and development [5] Summary by Sections Cleanroom Industry - The growth in high-tech industry investments is driving the expansion of the cleanroom market, with Micron Technology planning to invest $24 billion in a NAND factory in Singapore over the next decade, which will include 700,000 square feet of cleanroom space [4] - The World Semiconductor Trade Statistics (WSTS) predicts a 26.3% increase in the global semiconductor market by 2026, reaching $975 billion, further supporting the cleanroom industry's growth [4] - Yaxiang Integration's parent company reported a consolidated revenue of NT$9.5 billion (approximately RMB 2.1 billion) in December, a year-on-year increase of 165.2% [4] Real Estate Market - The Central Economic Work Conference in December 2025 emphasized stabilizing the real estate market through targeted policies, including controlling inventory and encouraging the acquisition of existing properties for affordable housing [5] - An article published on January 2, 2026, highlighted the importance of managing expectations in the real estate market, which has significant financial asset attributes and broad social implications [5] Recommended Companies - The report recommends Yaxiang Integration for the cleanroom sector, with related companies including Bocheng Co., Ltd. and Shenghui Integration [7] - Other sectors recommended include commercial aerospace, controllable nuclear fusion, and renewable energy, with specific companies highlighted for each sector [7]

针对极硬岩层，项目团队为"镜岭2号"TBM配备高刚度刀盘与重载刀座以增强破岩能力，并搭载超前地 质预报系统，能够提前100米至150米探明前方地质状况，实现对前方不良地质的超前感知与精准研判， 显著提升设备在复杂地层施工的安全性与适应性。 镜岭水库建成后，将显著优化区域水资源配置格局，为绍兴及周边地区城乡居民提供更加稳定可靠的优 质供水，并有效提升曹娥江流域防洪减灾能力，对服务区域经济社会高质量发展具有重要意义。 [ 责编：袁晴 ] 新华社北京2月1日电（记者樊曦）记者1日从中国铁建股份有限公司了解到，浙江镜岭水库关键输水隧 洞工程取得重要进展。应用于这一工程的"镜岭2号"全断面隧道掘进机（TBM）成功实现日掘进63米， 单月掘进突破1000米，实现了在"长距离、极硬岩、多断层"复杂地质条件下隧道施工的新突破。 浙江镜岭水库工程位于绍兴，是集防洪、供水、灌溉等主要功能于一体的国家重大水网工程，是浙江水 网乃至东南地区水网的重要节点工程。工程分为水库枢纽工程和输水工程两大部分，输水线路长约76.3 公里，其中由中铁十八局承建的土建5标TBM隧道全长13.55公里，穿越8条断层破碎带，岩石最高强度 达243兆帕， ...

Investment Rating - The report maintains a "Strong Buy" rating for the construction decoration industry, indicating a positive outlook for the sector [3]. Core Insights - The report emphasizes the arrival of a new industrial era, highlighting significant opportunities for construction companies to engage in cross-industry transformations [17]. - It notes that the net financing of special bonds has increased year-on-year, with a total of 3,086 billion yuan in net financing as of January 30, 2026, which is higher than the average of the past three years [22][23]. - The report identifies key sectors for investment, including commercial aerospace, low-altitude economy, quantum technology, AI, and future energy sources like nuclear power and controlled nuclear fusion [17][20]. Summary by Sections Industry Outlook and Investment Recommendations - The report suggests focusing on the construction of key projects in the western region during the "14th Five-Year Plan," recommending state-owned enterprises such as China Railway Construction and China State Construction [11]. - It highlights the potential benefits for companies involved in tunneling, civil explosives, and geotechnical engineering due to high demand in these sectors [28]. - The report also encourages investment in new economic directions such as commercial aerospace, low-altitude economy, computing power, and AI, recommending companies like Roman Technology and Honglu Steel Structure [28]. Market Performance Review - The construction decoration index fell by 1.44% this week, underperforming the overall A-share index, which declined by 0.44% [34]. - Notable performers included Roman Technology (+18.6%) and Taiji Industry (+16.03%), while companies like Hexin Instruments (-20.65%) and Su Testing (-15.05%) saw significant declines [34][35]. Key Company Dynamics - The report tracks significant company developments, including China Railway Construction signing new contracts worth 1.6 trillion yuan in Q4, showing stability compared to the previous year [21]. - It also notes that Zhite New Materials expects a net profit of 160-200 million yuan for 2025, reflecting a year-on-year increase of 117.11% to 171.39% [21].

Investment Rating - The report maintains a "Positive" investment rating for the construction and engineering sector [11] Core Insights - In the inflation cycle, the prices of commodities such as copper and gold are rising, benefiting construction state-owned enterprises with quality mining rights, while the chemical industry is also expected to show profit resilience due to price elasticity [2][10] Summary by Relevant Sections Resource Sector - China Railway has invested in five modern mines, producing significant quantities of copper, cobalt, molybdenum, lead, zinc, and silver, with a revenue increase of 8.04% year-on-year in resource utilization business [6] - China Power Construction holds a 25.28% stake in Huagang Mining, with copper and cobalt production figures reported for 2025 [7] - Shanghai Construction's mining operations include a significant gold mine in Eritrea, contributing to substantial revenue from gold sales [8] - Sichuan Road and Bridge has developed a resource reserve system focusing on various minerals, with significant overseas projects [9] Chemical Industry - China Chemical has a broad chemical industrial layout, including significant production capacities for various chemicals and advancements in technology for epoxy propylene production [10] - The company has also made progress in potassium and phosphate mining, with substantial production and sales figures reported for 2025 [10] Market Performance - The construction sector's performance has varied, with specific sub-sectors showing positive growth rates year-to-date, such as chemical engineering and steel structure [20][21]