Core Insights - The company, Jingtou Transportation Technology, reported a cumulative new signed and awarded project amount of approximately RMB 1.23 billion for the nine months ending September 30, 2025 [1] - The company is focusing on maintaining its competitive advantage in various regional markets despite fluctuations in market bidding rhythms [1] Market Expansion - In the Beijing market, the company is steadily advancing the signing and implementation of the Beijing Subway Line 22 series projects, with a cumulative signed amount of approximately RMB 1.2 billion since 2024, further solidifying its local market advantage [1] - Outside Beijing, the company successfully signed the Jinan Subway Line 6 PIS project for approximately RMB 38.09 million and the Qingdao High-speed Rail PIS project for approximately RMB 42.34 million [1] - The company is also deepening its presence in the Middle East and Southeast Asia, enhancing the localization and customization of its products and technologies, and strengthening its brand influence and competitiveness in overseas markets [1] Project Implementation - The company is involved in the simultaneous opening and operation of three key subway lines, providing core equipment and full-process implementation for the Tianjin Subway Line 7 AFC system, and supplying critical equipment for the Shenzhen Subway Line 16 [2] - The company has tailored a new generation of onboard PIS systems for the Xuzhou Subway Line 6, enhancing urban public transport operational efficiency during peak travel periods [2] - The Beijing Subway Line 13, in which the company plays a key role, has entered the empty load trial operation phase, with ongoing comprehensive debugging tasks for communication, AFC, and PIS systems to ensure high-quality operation by year-end [2]