评级：增持 目标价：2.3港元 ◆18年业绩基本符合预期，派息情况良好 铁建装备公布2018年度业绩，18年实现收入24.1亿人民币，同比增长32.6%；实现归母净利润1.56亿人民币，同比增长 183.8%；每股收益为0.10元人民币，基本符合我们预期（预测0.11元人民币）。公司现金充沛，宣布年度派息每股 0.05元人民币，派息率达50%。 机构：光大证券 2018年，铁路投资超额完成年初计划，总投资从7300亿恢复至8000亿，提升约10%；我们估算其中的基建和设备投资 分别从6450/850亿恢复至6800/1200亿；基建投资回升不到10%，而设备投资回升超过40%。展望2019年，铁总会议确 认铁路投资将维持高景气度，我们认为大型养路机械需求将继续复苏。 ◆近期中标多项大单，行业龙头地位稳固 在2018年底的年度大型养路机械招标中，公司维持了主要产品领域的龙头优势，中标多项大单。18年11月，公司中标 大秦铁路5台大型养路机械项目，金额0.96亿人民币；18年12月，公司中标铁总52台大型养路机械采购项目，金额达 7.3亿人民币。我们预计公司19年的中标量有望同比上升。 ◆维持"增持"评级 公司营 ...

Group 1 - The second "Belt and Road" Technology Exchange Conference was held in Chengdu, Sichuan, focusing on building a technology innovation community among participating countries [2][3] - Chinese technology is increasingly becoming a driving force for industrial upgrades in "Belt and Road" countries, enhancing local industry development [2] - Collaboration between Chinese high-tech enterprises and local companies in Belarus is taking place in fields such as new energy, machinery, big data, artificial intelligence, and industrial internet [2] Group 2 - Qingdao Jicheng Electronics Co., Ltd. plans to localize water meter production in Saudi Arabia, significantly improving water resource management efficiency [2][3] - The conference announced the establishment of the Chengdu-Chongqing "Belt and Road" International Technology Transfer Center, aiming to create over 100 international cooperation projects within three years [5] - The "Double Thousand" plan aims to implement 1,000 technology exchange cooperation projects and support 1,000 young scientists' exchanges by 2030 [5] Group 3 - The focus of international cooperation is shifting from traditional product trade to the output of key intermediates, production capacity, supply chains, and standard management [5] - This transformation is expected to enhance international cooperation efficiency and lower collaboration barriers, aiding in the cultivation of localized brands in "Belt and Road" countries [5]