2025年11月27日晚间，全球轨道交通装备龙头中国中车（601766.SH）发布重磅公告，拟将控股子公司 中车戚墅堰机车车辆工艺研究所股份有限公司（下称"中车戚所"）分拆至深交所创业板上市。 这一决策引发资本市场强烈关注，不仅因为中国中车超2000亿元的市值体量，更在于此次分拆是央企响 应国家战略、深化国企改革的典型实践，也是2025年A股近30家分拆上市案例中，高端装备制造领域的 标杆性事件。 根据公告披露，本次分拆已通过中国中车第四届董事会第四次会议审议，同意票占比100%，后续需提 交股东会批准，并履行交易所及证监会相关程序。 此外，中车戚所拥有国家级企业技术中心、国家金属材料检测中心、博士后工作站，累计授权专利超 1200项，主导或参与制定国家及行业标准130余项。 高速动车组齿轮传动系统累计装车超6600列，国内市场占有率稳居第一。 风电主齿轮箱从1.5MW覆盖至16MW，是远景、明阳、金风等头部整机厂核心供应商。 分拆完成后，中国中车仍将直接持有中车戚所84.20%股权，保持绝对控股地位，后者的财务数据仍将 纳入合并报表范围。 中车戚所作为1959年始建的行业老兵，2023年入选"科改企业"，2 ...

Core Insights - The central enterprises in China have significantly enhanced their overall strength during the "14th Five-Year Plan" period, with total assets exceeding 90 trillion yuan, up from less than 70 trillion yuan [3] - Profit totals have increased from 1.9 trillion yuan to 2.6 trillion yuan, with average annual growth rates of 7.3% and 8.3% respectively [3] - The quality and efficiency of state-owned enterprises have improved, with operating income profit margins rising from 6.2% to 6.7% and labor productivity increasing from 594,000 yuan to 817,000 yuan per employee [3] Investment and Strategic Development - Central enterprises have invested a cumulative 8.6 trillion yuan in strategic emerging industries, with notable acceleration in sectors such as integrated circuits, biotechnology, and new energy vehicles [7] - In 2024, investments in strategic emerging industries are expected to account for over 40% of total investments, with revenue from these sectors approaching 30% of total income [7] - Revenue from strategic emerging industries is projected to exceed 11 trillion yuan in 2024, with five key sectors each generating over one trillion yuan [9] Structural Optimization and Reforms - The layout of central enterprises has been optimized, with six groups of ten enterprises undergoing strategic restructuring and nine new central enterprises established [5] - The focus on enhancing core competitiveness is driving reforms, with over 70% of revenue from central enterprises coming from sectors critical to national security and the economy [9] - The State-owned Assets Supervision and Administration Commission (SASAC) has initiated actions to revitalize industries and support future industries, enhancing assessment and policy support [7]