2026年的元旦，挤满广州塔、北京路、番禺天河城的年轻人体验了一把凌晨1点半还在全市堵车的跨年 气氛。当晚广州各大商圈爆红的热力图不仅展示了年轻人旺盛的朝气，也顺带帮助广州打破了全国地铁 的客流纪录。 2025年的最后一天，广州地铁线网总客运量达1409.3万人次，不仅再度刷新2024年最后一天创造的全市 地铁单日客运量历史纪录，也成为国内唯一突破1400万人次大关的城市地铁系统。 同时，早在三周前，白云机场（600004）历史性实现了年旅客吞吐量突破8000万人次（国际旅客超1660 万人次），对比2024年创下当时新高的全年客流7636.9万人次，今年机场客流也毫无悬念地再创新纪 录。 来自美团旅行数据显示，2026年元旦假期广州跃居全国元旦跨年机票预订最热门目的地，另据去哪儿旅 行的数据，元旦假期广州酒店预订量登顶全国热门城市榜，同比增长近3倍。 新年新气象，一连串的破纪录数据不仅为2025年广州爬坡过坎、顶压前行的发展进程顺利画上句点，也 为2026年广州经济社会发展继续前进带来了"开门红"。 地铁城际机场客流连破纪录 2025年最后一天的跨年夜，广州地铁客流打破全国纪录。 随着2025年多条地铁城际 ...

园区以工业化、数智化、绿色化"三化融合"为主线，构建起以"临港重型装备"为核心的"1+3"产业体 系，重点打造海洋工程装备、轨道交通装备、清洁高效发电装备、模块化建筑、高技术船舶与动力装备 等产品矩阵，并联合共建一批智能制造创新平台，加快粤港澳技术融合与产业协同。借助南沙临港优 势，园区建成南沙核心区唯一的重型装备挖入式港池码头，靠泊能力达1500吨，打通了大型装备高效出 海"黄金通道"。 当天，一系列合作签约仪式同步举行。中建科技、中铁装备天津公司、广重集团、广柴股份集中与工控 产业园集团签署入驻协议，标志着央企、地方国企在资源整合、技术共享与市场协作方面迈出关键一 步，将共建共享高端装备制造新生态。 据了解，广州工控大湾区高端装备产业园坐落于南沙穗港智造基地，由工控产业园集团运营，占地面积 640多亩，总投资达47亿元。 2025年12月31日上午，随着悠长的汽笛声，一艘装载着重工装备产品的货轮从广州工控大湾区高端装备 产业园自有码头出航，标志着该园区正式开园，开启了"广州智造"走向"全球应用"的崭新航程。 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company [3] Core Views - The company's Q3 performance met expectations, with a significant improvement in profitability on a quarter-over-quarter basis [7] - The company is positioned as a leading enterprise in high-end energy equipment, with strong growth potential in multiple core business areas [7] Financial Performance Summary - For the first three quarters, total revenue reached 55.52 billion yuan, a year-on-year increase of 16.03%, while net profit attributable to shareholders was 2.966 billion yuan, up 13.02% year-on-year [1] - Q3 revenue was 17.37 billion yuan, reflecting a year-on-year increase of 20.7% but a quarter-over-quarter decrease of 19.6% [7] - The gross profit margin for Q3 was 15.21%, with a year-on-year decrease of 1.42 percentage points but a quarter-over-quarter increase of 0.63 percentage points [7] Order Growth Summary - New orders for the first three quarters totaled approximately 88.6 billion yuan, a year-on-year increase of 9% [7] - Q3 new orders were about 23.1 billion yuan, showing a year-on-year decrease of 8% and a quarter-over-quarter decrease of 22% [7] - The company anticipates strong growth in orders from wind power, hydropower, and nuclear fusion sectors [7] Future Earnings Forecast - The company is expected to achieve net profits of 4.034 billion yuan and 4.784 billion yuan in 2025 and 2026, respectively [7] - The current market capitalization corresponds to a PE ratio of 20x for 2025 and 17x for 2026 [7] Key Financial Metrics - The company reported a total market value of 83.9 billion yuan and a circulating market value of 54.9 billion yuan [3] - The return on equity (ROE) is reported at 7.3% [3] - The asset-liability ratio stands at 71.3% [3]

Core Viewpoint - The "Power Equipment Industry Steady Growth Work Plan (2025-2026)" aims to enhance revenue growth in traditional and renewable energy equipment sectors, focusing on innovation and efficiency improvements [2][10][12]. Group 1: Revenue Growth Targets - The plan targets an average annual revenue growth rate of approximately 6% for traditional power equipment from 2025 to 2026 [1]. - For the renewable energy equipment sector, steady growth in revenue and an increase in export volume are anticipated [1]. - The advanced manufacturing cluster in the power equipment sector aims for an average annual revenue growth rate of 7%, with leading enterprises targeting around 10% [5]. Group 2: Strategic Focus Areas - The plan emphasizes demand-driven growth, quality improvement, structural optimization, and safety control as core components [7]. - New growth points include accelerating the construction of projects like the "Shagehuang" renewable energy base and integrated wind-solar-hydro bases [7]. Group 3: International Cooperation and Innovation - The plan encourages deepening cooperation with emerging market countries across the entire industry chain in wind, solar, and energy storage sectors [10]. - It promotes organized overseas expansion for energy development and equipment manufacturing enterprises, as well as financial institutions [10]. Group 4: Industry Significance and Transformation - The power equipment industry is recognized as a foundational and strategic sector for national economic development, playing a crucial role in stabilizing economic growth [12]. - The industry is transitioning towards high-end, intelligent, and green development, with a focus on clean and efficient power generation equipment [15][17].