Core Viewpoint - The installation of traction transformers for the Chengyu Middle Line High-Speed Railway in Sichuan has been successfully completed, marking a significant step towards the commissioning of the railway's power supply system [1] Group 1: Project Progress - The last traction transformer, weighing 39.6 tons, has been installed at the Lezhi Traction Substation in Sichuan Province, completing the installation of all traction transformers along the Sichuan section of the Chengyu Middle Line High-Speed Railway [1] - A total of 12 traction transformers have been deployed at three traction substations located in Anyue, Lezhi, and Jianzhou, forming the core framework of the railway's power supply system [1] Group 2: Importance of Traction Transformers - Traction transformers are described as the "heart" of the railway traction power supply system, responsible for converting high-voltage electricity from the national grid into power suitable for electric locomotives [1] - The precision and quality of the installation of these transformers are critical for ensuring the safety, stability, and efficiency of future railway operations [1]

Core Viewpoint - China Railway announced the appointment of Zhao Dianlong as the new president, effective from the date of the board's approval until the end of the current board's term [1] Group 1 - The sixth board of directors held its 18th meeting on January 9, 2026, via communication voting [1] - The board approved the proposal to appoint Zhao Dianlong as the president of China Railway [1] - The appointment is set to last until the current board's term expires [1]

Core Viewpoint - China Railway announced the approval of key personnel changes and a shareholder meeting, indicating ongoing governance and strategic planning within the company [1] Group 1: Board Decisions - The sixth board of directors of China Railway held its 18th meeting, where several important resolutions were passed [1] - The company approved the appointment of a new president, reflecting a potential shift in leadership strategy [1] - Zhao Dianlong was nominated as a candidate for executive director, suggesting a focus on strengthening the board's capabilities [1] Group 2: Shareholder Engagement - A proposal was made to convene the first extraordinary general meeting of shareholders in 2026, highlighting the company's commitment to shareholder communication and governance [1]

Core Viewpoint - The 2025 land market is characterized by "quality improvement and quantity reduction," with a decline in both transaction area and amount, but an increase in floor prices, indicating a focus on investment in first- and second-tier cities [1][2]. Group 1: Supply and Transaction Data - In 2025, the total land supply area in sample cities nationwide is 117,242 million square meters, a year-on-year decrease of 16.9%, with first, second, and third/fourth-tier cities supplying 1,475/25,315/90,452 million square meters, respectively, down by -27.6%/-6.4%/-19.2% [2]. - The total land transaction area in sample cities is 98,663 million square meters, a year-on-year decline of 12.5%, with a transaction amount of 28,488 billion yuan, down 11.4%. The corresponding average transaction floor price is 2,887 yuan per square meter, an increase of 3.4% [2]. - The transaction areas for first, second, and third/fourth-tier cities are 1,388/22,133/75,142 million square meters, with year-on-year changes of -25.9%/-5.7%/-14.1%, and transaction amounts of 3,880/10,927/13,681 billion yuan, with year-on-year changes of -13.1%/-1.9%/-17.4% [2]. Group 2: Premium Rates and Market Dynamics - The average premium rate for land in sample cities is 5.3%, up 1.1 percentage points year-on-year, with first, second, and third/fourth-tier cities at 10.7%/6.2%/3.1%, showing increases of +3.8/+2.3/-0.6 percentage points [3]. - Major cities like Shanghai, Shenzhen, Hangzhou, and Chengdu have premium rates exceeding 10%, recorded at 15.3%/26.9%/25.4%/10.3% respectively [3]. - The land auction market saw a significant increase in premium rates at the beginning of the year due to various stimulating factors, but the rates have since declined as investment returned to rationality [3]. Group 3: Investment Strategies of Key Enterprises - In 2025, 12 real estate companies exceeded 10 billion yuan in land acquisition, with 11 being state-owned enterprises, including major players like China Overseas Land & Investment and Poly Developments [4]. - The land acquisition intensity for key enterprises has increased, with the overall acquisition intensity for the top 100 real estate companies rising by 70.6% year-on-year, reaching 0.29 [4]. - Among these, Binjiang Group has the highest land acquisition intensity at 81.9% [4].

随后，中国中铁（601390）发布公告称，经公司第六届董事会提名委员会第六次会议审议通过，公司董 事会同意聘任赵佃龙先生为公司总裁。 公告显示，赵佃龙，52岁，正高级工程师，于1998年毕业于北方交通大学土木建筑系铁道工程专业，获 得研究生学历和工学硕士学位。现任中国中铁公司总裁、党委副书记，同时担任中国铁路工程集团有限 公司(以下简称"中铁工")总经理、董事、党委副书记。 1月9日，中国铁建（601186）发布公告称，因工作调动，赵佃龙提请辞去公司副总裁职务。辞任后，赵 佃龙先生不再担任公司任何职务 赵佃龙于1998年参加工作，曾任中国铁建国际集团有限公司党委书记、副董事长，中国土木工程集团有 限公司总经理、董事、党委副书记；2019年4月至2021年7月任中国土木工程集团有限公司党委书记、董 事长；2021年7月至2021年8月任中国铁道建筑集团有限公司党委常委；2021年8月至2026年1月，任中国 铁道建筑集团有限公司党委常委，中国铁建股份有限公司党委常委、副总裁。 ...

Core Viewpoint - China Railway (601390) has appointed Mr. Zhao Dianlong as the company's president, effective from January 9, 2026, until the end of the sixth board's term [1] Group 1 - The board of directors made the decision to appoint Mr. Zhao Dianlong as president on January 9, 2026 [1] - Mr. Zhao Dianlong has also been nominated as a candidate for the company's executive director, with the term starting from the date of approval by the shareholders' meeting until the end of the sixth board's term [1]

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發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告乃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。 中國 • 北京 2026年1月9日 於本公告日期，本公司的執行董事為陳文健先生（董事長）及王士奇先生；本公司的非執 行董事為文利民先生及房小兵先生；本公司的獨立非執行董事為修龍先生、孫力實女士 及屠海鳴先生。 A 股代码：601390 A 股简称：中国中铁 公告编号：临 2026-004 H 股代码：00390 H 股简称：中国中铁 中国中铁股份有限公司 第六届董事会第十八次会议决议公告 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。 茲載列中國中鐵股份有限公司於2026年1月9日在上海證券交易所網站刊登的「中國中鐵股 份有限公司第六屆董事會第十八次會議決議公告」，僅供參閱。 承董事會命 中國中鐵股份有限公司 陳文健 董事長 亦不存在《上海证券交易 ...

格隆汇1月9日丨中国中铁(00390.HK)公告，董事会已于2026年1月9日通过决议委任赵佃龙为公司总裁， 任期自有关董事会决议日(即2026年1月9日)起至第六届董事会任期届满日止。董事会进一步宣布，董事 会已于2026年1月9日通过决议提名赵为公司执行董事候选人，任期自公司股东大会通过有关决议日起至 第六届董事会任期届满日止。 ...

本公告乃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。 茲載列中國中鐵股份有限公司於2026年1月9日在上海證券交易所網站刊登的「中國中鐵股 份有限公司關於聘任公司總裁的公告」，僅供參閱。 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發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 於本公告日期，本公司的執行董事為陳文健先生（董事長）及王士奇先生；本公司的非執 行董事為文利民先生及房小兵先生；本公司的獨立非執行董事為修龍先生、孫力實女士 及屠海鳴先生。 | A | 股代码：601390 | A | 股简称：中国中铁 | 公告编号：临 | 2026-005 | | --- | --- | --- | --- | --- | --- | | H | 股代码：00390 | H | 股简称：中国中铁 | | | 中国中铁股份有限公司 关于聘任公司总裁的公告 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 ...

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發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 月，任中國鐵道建築集團有限公司黨委常委，中國鐵建股份有限公司黨委常委、副總 裁。趙先生於1998年畢業於北方交通大學土木建築系鐵道工程專業，獲得研究生學歷和 工學碩士學位。 除上述履歷披露者外，趙先生確認(1)其於過往三年沒有在本公司或其任何附屬公司擔任 任何其他職務及並無在其他上市公司擔任任何董事職位；(2)其與本公司或其任何附屬公 司的任何董事、高級管理人員、主要或控股股東沒有任何關係；及(3)並無於本公司股 份、相關股份及債券中持有根據證券及期貨條例（香港法例第571章）第XV部所指的任何 權益。 就趙先生獲選舉為本公司總裁及獲提名為本公司執行董事而言，趙先生確認並無其他根 據香港聯合交易所有限公司證券上市規則第13.51(2)(h)條至13.51(2)(v)條的任何規定須予 披露的資料或其他事宜需提請本公司股東注意。 趙先生的建議委任須待股東於本公司股東會上批准後方行生效。一份載有建議委任之詳 ...