智通财经APP讯，时代电气(03898)发布公告，2026年1月1日，株洲中车时代电气股份有限公司(以下简 称"公司")董事会收到公司副总经理牛杰先生的辞职报告。牛杰先生因工作调整原因辞去副总经理职 务。辞职后，牛杰先生仍然在公司任职，担任公司调研员及部分下属子公司的董事。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 作 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3898） 海外監管公告 本 公 告 乃 由 株 洲 中 車 時 代 電 氣 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有 限 公司證券上市規則第13.10B條而作出。 茲 載 列 本 公 司 在 上 海 證 券 交 易 所 網 站 刊 登 之《株 洲 中 車 時 代 電 氣 股 份 有 限 公 司 關 於 公 司 高 級 管 理 人 員 離 任 的 公 告》，僅 供 參 閱。 承董事會命 株洲中車時代電氣股份有限公司 董事長 李東林 | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 是否继续在上 市公司及其控 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | ...

Core Insights - The report emphasizes a positive outlook for the mechanical industry in 2026, driven by structural transformation and a rebound in external demand [3][4] - The report introduces a "risk排雷" manual to proactively identify potential market misjudgments and challenges within various sectors [3][4] Industry Overview - The mechanical industry is expected to experience a cyclical reversal, with growth in engineering machinery, industrial gases, shipbuilding, photovoltaic equipment, and lithium battery equipment [6][8] - Key assumptions include continued government support for emerging technology industries and a stable macroeconomic recovery [11][16] Engineering Machinery - The engineering machinery sector is witnessing a cyclical upturn, with increased overseas market share and a gradual domestic renewal cycle [17] - Key growth drivers include global market expansion, improved domestic demand due to favorable macro policies, and a stabilizing domestic infrastructure and real estate market [17] Shipbuilding - The shipbuilding industry is on an upward trend, with demand supported by a variety of vessel types and improving profitability for shipyards [19] - The sector is expected to benefit from supply constraints driving up ship prices and a focus on high-end, large-scale, dual-fuel vessels [20] Export Chain - The export chain is optimistic about demand recovery, particularly in the U.S. market, with a focus on strategic exports and emerging markets [22] - Key assumptions include a favorable trade environment and ongoing industrial shifts towards resource-rich countries [22] Industrial Gases - The industrial gases sector is viewed positively, with expectations of volume and price increases leading to improved valuations [27] - The report highlights the importance of leading companies in the sector and recommends focusing on those with operational highlights in niche markets [30] Lithium Battery Equipment - The lithium battery equipment sector is expected to emerge from a downturn, with solid-state battery technology creating significant market opportunities [51] - The report anticipates a substantial increase in market size, projecting a growth from 2.06 billion in 2025 to 33.62 billion by 2030 [51] Wind Power Equipment - The wind power industry is projected to maintain high growth, particularly in offshore wind projects, with significant investments expected [63] - The report recommends focusing on leading manufacturers and components that support the offshore wind market [64] Testing and Inspection - The testing and inspection sector is expected to see upward momentum, driven by increasing demand and a trend towards consolidation among leading firms [71] - The report emphasizes the importance of focusing on emerging fields and the long-term growth potential of comprehensive testing companies [71] Rail Transit Equipment - The rail transit equipment sector is expected to benefit from steady investment in fixed assets and high demand for passenger and freight transport [75] - The report highlights the potential for continued growth in the high-speed train sector and recommends key players in the industry [76] Oil Service Equipment - The oil service equipment sector is anticipated to thrive due to sustained demand driven by oil prices and energy security concerns [79] - The report suggests focusing on companies with strong technical barriers and those benefiting from domestic and international market opportunities [80]

证券代码：688187（A 股） 证券简称：时代电气（A 股） 公告编号：2026-001 证券代码： 3898（H 股） 证券简称：时代电气（H 股） 株洲中车时代电气股份有限公司 关于公司高级管理人员离任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： (一) 提前离任的基本情况 | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 是否继续在上 市公司及其控 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 到期日 | | 股子公司任职 | （如适用） | 毕的公开 承诺 | | 牛杰 | 副总经理 | 2026 年 1 | 2026 年 6 月 | 工作调整 | 是 | 公 司 调 研 | 否 | | | | 月 1 日 | 26 日 | | | 员；部分下 | | | | | | | | | 属 子 公 司 | | | | | | | | | 董事 | | (二) 离任对公 ...

时代电气1月5日公告，公司董事会收到公司副总经理牛杰的辞职报告，牛杰因工作调整原因辞去副总经 理职务。辞职后，牛杰仍然在公司任职，担任公司调研员及部分下属子公司的董事。牛杰的辞职自辞职 报告送达董事会时生效。 ...

时代电气公告称，2026年1月1日，公司董事会收到副总经理牛杰辞职报告。牛杰因工作调整辞去副总经 理职务，原定任期到2026年6月26日。辞职后，他仍在公司任职，担任调研员及部分下属子公司董事。 牛杰已做好交接工作，其辞职不会对公司日常经营产生不利影响。截至公告披露日，牛杰未持有公司股 票，无未履行的承诺事项。 ...

Core Viewpoint - The merger and acquisition (M&A) trend is expanding across various industries, supported by new policies from local governments in Shanghai, Beijing, and Shenzhen aimed at promoting high-quality M&A activities from 2025 to 2027 [1][2]. Group 1: Government Initiatives - The Shanghai Municipal Government has released the "Shanghai Action Plan to Support Mergers and Acquisitions of Listed Companies (2025-2027)" outlining twelve key objectives [1]. - The Beijing Securities Regulatory Bureau and the Beijing Municipal Financial Office held a seminar on M&A activities in the Beijing area on November 27 [1]. - The Shenzhen Municipal Financial Office has issued a draft action plan for promoting high-quality M&A development [1]. Group 2: Market Activity - The A-share M&A market remains active, with 22 listed companies disclosing M&A progress this week, including notable firms such as Huylu Ecology, Daye Co., and Wens Foodstuffs [1][2]. - Yibin Paper recorded six consecutive trading days of gains after announcing plans to acquire a 67% stake in vinegar fiber company [1]. - Youa Co. achieved three consecutive trading days of gains following its announcement to acquire 100% of Shangyang Tong Technology [1]. Group 3: Specific M&A Transactions - Huylu Ecology plans to increase its stake in Diaoheng Technology, constituting a major asset restructuring [1]. - Daye Co. intends to acquire 100% of AL-KO Gerate GmbH, marking a significant asset restructuring [1]. - Wens Foodstuffs is set to acquire 91.38% of Jun Cheng He Rui for 1.61 billion yuan, focusing on biomass energy [1]. - Hason Co. is planning to acquire 100% of Chenling Optical and 45% of Suzhou Langkes, with its stock already suspended [3]. - Youa Co. aims to purchase 100% of Shenzhen Shangyang Tong Technology, marking a strategic shift into the power semiconductor sector [2].

Group 1 - Major investment banks like Goldman Sachs, Morgan Stanley, and UBS are optimistic about the global stock market outlook for 2026, expecting double-digit gains in both developed and emerging markets due to strong earnings growth, declining interest rates, and reduced policy headwinds [1] - The United States is projected to maintain its position as the global growth engine, driven by a resilient economy and an AI-driven supercycle that is leading to record capital expenditures and rapid earnings expansion [1] - The momentum of the AI industry is spreading globally across various sectors including technology, utilities, banking, healthcare, and logistics, creating both winners and losers amid an already imbalanced K-shaped economy [1] Group 2 - Goldman Sachs has released a list of recommended stocks for investment based on the Earnings Revision Leading Indicator (ERLI), which includes companies such as AIA Group (01299.HK), Xiaomi Group-W (01810.HK), Lenovo Group (00992.HK), and Hong Kong Exchanges and Clearing (00388.HK) [1] - Other notable stocks on the list include China Ping An (02318.HK), Zijin Mining (02899.HK), Techtronic Industries (00669.HK), and China Pacific Insurance (02601.HK) [1] - Additional companies mentioned are ZTO Express-W (02057.HK), Luoyang Molybdenum (03993.HK), Hua Hong Semiconductor (01347.HK), and China Aluminum (02600.HK) [1]

本月底法定/註冊股本總額： RMB 1,357,948,412 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: 2025年12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: 株洲中車時代電氣股份有限公司 呈交日期: 2025年12月31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) | 03898 | 說明 | H 股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 489,040,900 | RMB | | 1 | RMB | | 489,040,900 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 489,040,900 | RMB | | ...

Core Viewpoint - The rail transit equipment sector experienced a slight increase of 0.21% on December 31, with Lei Erwei leading the gains, while the Shanghai Composite Index rose by 0.09% and the Shenzhen Component Index fell by 0.58% [1] Group 1: Market Performance - The closing price of Lei Erwei was 22.58, with a significant increase of 8.77% and a trading volume of 99,700 shares, resulting in a transaction value of 218 million yuan [1] - Other notable performers included Shidai Electric at 51.29, up 2.76%, and Zhonghe Technology at 8.98, up 2.75% [1] - The overall trading volume in the rail transit equipment sector showed varied performance, with some stocks experiencing declines [2] Group 2: Capital Flow - The rail transit equipment sector saw a net outflow of 61.13 million yuan from institutional investors, while retail investors contributed a net inflow of 29.52 million yuan [2] - Lei Erwei had a net inflow of 14.14 million yuan from institutional investors, but a net outflow of 20.21 million yuan from retail investors [3] - Other companies like Zhonghe Technology and Gongda Gaoke also experienced mixed capital flows, indicating varied investor sentiment across the sector [3]