Core Viewpoint - China Communication Technology Co., Ltd. (China Tonghao) has won a total of 21 significant projects from November to December 2025, with a total bid amount of approximately RMB 5.26 billion, which accounts for about 16.20% of the company's audited revenue for 2024 under Chinese accounting standards [1][2]. Summary by Category Railway Market Projects - The company secured 8 important projects in the railway market, with notable bids including: - Guangzhou East Station renovation project: RMB 408 million - Baihe Railway Ulanhot to Arxan expansion project: RMB 360 million - Shanghai-Su-Zhou-Xiang-Chang intercity railway project: RMB 347 million - Chengdu-Dazhou-Wanzhou high-speed railway wireless block center procurement: RMB 121 million [1]. Urban Rail Transit Projects - The company won 13 significant projects in the urban rail transit market, including: - Chengdu to Meishan railway signal system project: RMB 576 million - Shanghai Metro Line 19 signal system procurement: RMB 450 million - Beijing Metro Line 1 signal system procurement: RMB 262 million - Riyadh KAFD monorail system project: RMB 146 million [1]. Financial Impact - The total bid amount of approximately RMB 5.26 billion is expected to have a positive impact on the company if formal contracts are signed and projects are implemented smoothly, although the impact on current performance remains uncertain due to the projects being phased over multiple years [2].

Core Viewpoint - China Communications Signal (688009.SH) has won a total of 21 significant projects between November and December 2025, with 8 in the railway market and 13 in the urban rail transit market [1] Railway Market Summary - The railway projects include: - Guangzhou East Station renovation and Guangzhou East to Xintang Line WLXSG7 segment project, with a bid amount of 408 million yuan - Bai'a Railway Ulanhot to Arxan capacity expansion project BASG-3 segment, with a bid amount of 360 million yuan - Shanghai-Su-Zhou-Xiang-Chang intercity railway Taicang pilot section "four electrical" engineering, with a bid amount of 347 million yuan - Chengdu-Dazhou-Wanzhou high-speed railway wireless block center RBC procurement project, with a bid amount of 121 million yuan - Other projects include various signal and communication system upgrades, totaling significant amounts [1] Urban Rail Transit Market Summary - The urban rail transit projects include: - Chengdu to Meishan line signal system integration procurement and construction project, with a bid amount of 576 million yuan - Shanghai Metro Line 19 signal system procurement project, with a bid amount of 450 million yuan - Beijing Metro Line 1 branch signal system equipment procurement project, with a bid amount of 262 million yuan - Other projects include various signal system upgrades and maintenance contracts, totaling significant amounts [1]

Core Viewpoint - China Communications Signal Company has won a total of 21 significant projects between November and December 2025, with a total bid amount of approximately 5.26 billion yuan [1] Railway Market Projects - The company secured eight projects in the railway market, including: - Guangzhou East Station renovation project with a bid amount of 408 million yuan - Baihe Railway expansion project with a bid amount of 360 million yuan - Shanghai-Su-Zi-Chang intercity railway project with a bid amount of 347 million yuan - Chengdu-Dazhou-Wanzhou high-speed railway project with a bid amount of 264 million yuan - New railway project from Hepu to Zhanjiang with a bid amount of 235 million yuan - Shanghai Railway Bureau's 300T ATP equipment repair project with a bid amount of 144 million yuan - Shitai passenger dedicated line system overhaul project with a bid amount of 140 million yuan - New Chengdu-Dazhou-Wanzhou high-speed railway wireless block center project with a bid amount of 121 million yuan [1] Urban Rail Transit Projects - The company won thirteen projects in the urban rail transit market, including: - Chengdu-Meishan suburban railway signal system project with a bid amount of 576 million yuan - Shanghai Metro Line 19 signal system project with a bid amount of 450 million yuan - Line 1 branch project electromechanical installation project with a bid amount of 268 million yuan - Shanghai Metro Line 23 signal system project with a bid amount of 264 million yuan - Beijing Metro Line 1 branch signal system project with a bid amount of 262 million yuan - Jiaxing to Fengnan and Jiaxing to Xitang suburban railway signal system project with a bid amount of 261 million yuan - Nanhui branch railway project communication and signal system project with a bid amount of 218 million yuan - Changchun Metro Line 4 platform door and signal system upgrade project with a bid amount of 188 million yuan - Shanghai Metro lines 6, 7, 9, 11, 15, 16, 18 maintenance project with a bid amount of 186 million yuan - Beijing Yizhuang Line Taihu vehicle depot project with a bid amount of 147 million yuan - Riyadh KAFD monorail system project with a bid amount of 146 million yuan - Shanghai Metro Line 15 southern extension signal system project with a bid amount of 145 million yuan - Beijing Metro 10 lines signal system upgrade project with a bid amount of 130 million yuan [1]