【DT新材料】 获悉，7月17日， 金风科技 总裁曹志刚一行莅临中复神鹰西宁公司调研考察，并与 中复神鹰正式签署战略合作协议 ，双方将全面深化合 作关系，共同拓展碳纤维在新能源领域的无限应用潜力。 在随后召开的座谈会上，双方聚焦风电产业高质量发展的核心需求， 就碳纤维材料在实现风电叶片轻量化、提高刚性、增强关键结构性能、降低全生命 周期成本等方向的创新应用潜力与实施路径，进行了深入且富有成效的交流。另外还就零碳园区合作建设、地区风资源开发、联合课题研究等方面， 展 开了充分沟通并制定了后续工作规划。 未来 ，双方将充分发挥各自在技术、产品、市场与资源上的优势，打通先进材料与终端应用的创新链条，为新能源产业的技术革新与可持续发展注入强 劲动力 ，合力引领清洁能源装备的绿色未来。 金风科技 ， 是国内龙头风机企业， 在整机研发、产业链整合及全球市场布局方面拥有深厚积淀。 截至今年3月底，国际业务已遍及全球6大洲，47个国 家，在北美洲、澳洲、亚洲（除中国）及南美洲的装机量均已超过1GW，外部在手订单接近7GW。 2024年，金风科技风电新增装机容量在国内/全球市场份额占比分别为22%、15.9%，连续三年位列全球 ...

Investment Rating - The report maintains a "Buy" investment rating for China CNR Corporation Limited (601766.SH) [1] Core Views - The railway investment sector is experiencing high prosperity, driving steady performance for the company [5] - The company is expected to achieve a significant increase in net profit for the first half of 2025, with estimates ranging from 67.22 billion to 75.62 billion yuan, representing a year-on-year growth of 60% to 80% [4] - The company’s new industry segment, particularly in clean energy equipment, is becoming a crucial growth driver, with revenues from this segment reaching 863 billion yuan in 2024 [6] Summary by Sections Market Performance - The railway transportation industry is maintaining a high level of prosperity, with passenger and freight volumes projected to grow by 4.9% and 1.1% respectively in 2025 [5] - The demand for maintenance of high-speed trains is surging, with new orders for train sales reaching 602 billion yuan, a year-on-year increase of 162.48% [5] Business Structure Optimization - The company’s new industry segment, excluding rail transit components, has established clean energy equipment as a key growth area, with strong order growth expected in 2025 [6] - The global rail transit industry is recovering steadily, supported by policies promoting green and low-carbon development [6] Profitability and Financial Forecast - In Q1 2025, the company reported a revenue of 48.671 billion yuan, a year-on-year increase of 51.23%, with net profit soaring to 30.53 billion yuan, reflecting a growth rate of 202.79% [8] - The company forecasts revenues of 266.79 billion, 283.37 billion, and 299.71 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.47, 0.52, and 0.56 yuan [9]