证券日报网讯12月10日，铁建重工在互动平台回答投资者提问时表示，公司为工业母机在高端装备制造 领域的应用单位，专注于隧道掘进机、轨道交通装备及特种专业装备的设计、研发、制造、销售、租赁 与服务。公司深度践行"新型工业化"发展内涵，推动掘进机、特种专业装备等产业向智能化、绿色化升 级；深度融合人工智能与数字孪生技术，实现研发设计数字化与智能运维；贯彻绿色发展理念，建设绿 色工厂、拓展电动化产品，全面融入国家制造强国战略。 ...

Core Viewpoint - The company, 铁建重工, confirmed that it does not engage in nuclear power or controllable nuclear fusion-related businesses, focusing instead on tunnel boring machines, rail transit equipment, and specialized equipment for various sectors [2]. Company Overview - 铁建重工 primarily engages in the design, research and development, manufacturing, sales, leasing, and service of tunnel boring machines, rail transit equipment, and specialized professional equipment [2]. - The company's applications are mainly in the fields of railways, rail transit, water conservancy and hydropower (including pumped storage), and mining [2]. Business Focus - The company has not ventured into nuclear power, nuclear energy, or controllable nuclear fusion-related businesses as of now [2].

Core Insights - The company reported a new contract amount of 10.207 billion yuan for the period from January to September 2025, representing a year-on-year decrease of 3.61% [1] Summary by Category By Business Type - The tunnel boring machine segment signed new contracts worth 4.948 billion yuan, down 28.46% year-on-year [1] - The special professional equipment segment achieved new contracts of 2.265 billion yuan, an increase of 44.92% year-on-year [1] - The rail transit equipment segment secured new contracts totaling 2.993 billion yuan, reflecting a year-on-year increase of 41.89% [1] By Region - Domestic new contracts amounted to 8.013 billion yuan, showing a year-on-year increase of 2.23% [1] - International new contracts reached 2.193 billion yuan, down 20.25% year-on-year [1] Major Contracts - The significant contract signing/bidding amount from July to September 2025 was 1.255 billion yuan, accounting for approximately 12.49% of the 2024 revenue [1]

Core Viewpoint - China Railway Construction Heavy Industry Co., Ltd. has shown a significant stock performance with a year-to-date increase of 25.38% and a recent market capitalization of 28.85 billion yuan [1][2]. Financial Performance - For the first half of 2025, the company achieved a revenue of 4.84 billion yuan, representing a year-on-year growth of 0.71%, and a net profit attributable to shareholders of 735 million yuan, up 1.73% year-on-year [2]. - The company has distributed a total of 2.01 billion yuan in dividends since its A-share listing, with 1.49 billion yuan distributed over the past three years [3]. Stock Market Activity - As of September 29, the stock price reached 5.41 yuan per share, with a trading volume of 1.40 billion yuan and a turnover rate of 0.49% [1]. - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent net purchase on July 23 amounting to 26.54 million yuan [1]. Shareholder Structure - As of June 30, 2025, the company had 59,200 shareholders, with an average of 90,036 circulating shares per shareholder [2]. - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with both increasing their holdings compared to the previous period [3].

Company Overview - China Railway Construction Heavy Industry Co., Ltd. is located in Changsha Economic and Technological Development Zone, Hunan Province, established on November 23, 2006, and listed on June 22, 2021 [1] - The company's main business includes the design, research and development, manufacturing, sales, leasing, and service of tunneling machines, rail transit equipment, and special professional equipment [1] - Revenue composition: tunneling machines 61.05%, rail transit equipment 20.05%, special professional equipment 18.37%, others 0.53% [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 4.837 billion yuan, a year-on-year increase of 0.71%; net profit attributable to shareholders was 735 million yuan, a year-on-year increase of 1.73% [2] - Cumulative cash dividends since the A-share listing amount to 2.011 billion yuan, with 1.488 billion yuan distributed over the past three years [3] Stock Market Activity - As of September 2, the stock price decreased by 2.08% to 5.64 yuan per share, with a total market capitalization of 30.081 billion yuan [1] - Year-to-date, the stock price has increased by 30.71%, but has seen a decline of 5.53% in the last five trading days and 3.34% in the last 20 days [1] - The company has appeared on the "Dragon and Tiger List" three times this year, with the most recent instance on July 23, where net buying amounted to 26.5381 million yuan [1] Shareholder Information - As of June 30, the number of shareholders is 59,200, a decrease of 3.20% from the previous period; the average circulating shares per person increased by 272.80% to 90,036 shares [2] - Major shareholders include Hong Kong Central Clearing Limited, holding 24.0225 million shares, and Southern CSI 500 ETF, holding 23.8234 million shares, both showing increases in holdings [3]

Summary of Key Points Core Viewpoint - The company reported a total of 7.727 billion yuan in new contracts signed in the first half of 2025, reflecting a year-on-year increase of 3.15% [1] Contract Breakdown - The tunneling machine business secured new contracts worth 4.199 billion yuan, showing a year-on-year decline of 11.70% [1] - The special professional equipment business achieved new contracts totaling 1.173 billion yuan, down 6.21% year-on-year [1] - The rail transit equipment business saw new contracts amounting to 2.355 billion yuan, marking a significant year-on-year increase of 58.62% [1] Domestic and International Contracts - New contracts signed domestically reached 5.888 billion yuan, representing a year-on-year growth of 10.30% [1] - New contracts signed internationally totaled 1.839 billion yuan, which is a year-on-year decrease of 14.57% [1]

Core Viewpoint - China Railway Construction Heavy Industry Group Co., Ltd. (CRCHI) emphasizes its commitment to environmental, social, and governance (ESG) practices, showcasing its achievements in sustainable development and innovation in the high-end equipment manufacturing sector. Company Overview - CRCHI is a leading enterprise in the research, design, manufacturing, and service of transportation equipment, ranked first among global tunnel engineering equipment manufacturers and among the top 50 specialized manufacturers in construction machinery [2][3]. Development Strategy - The company aims to become a world-class provider of modern high-end equipment manufacturing and service solutions, focusing on high-quality development and sustainable business practices [4]. Environmental Initiatives - CRCHI has established a comprehensive framework for addressing climate change, aiming for carbon peak and carbon neutrality by implementing a series of green low-carbon development strategies [5][6]. - The company has reduced its carbon emissions, achieving a carbon emission intensity of 0.0387 tons of CO2 equivalent per ten thousand yuan of output value, a decrease of 5.29% year-on-year [8]. Pollution Control - The company has implemented various measures to manage pollutant emissions, achieving VOCs emissions of 10.42 tons and particulate matter emissions of 5.89 tons [9][10]. - CRCHI has adopted advanced production processes and equipment to ensure compliance with environmental standards and reduce waste [11][12]. Waste Management - The company generated 367.38 tons of hazardous waste and 13,056.18 tons of general solid waste, with strict adherence to waste disposal regulations [12]. Energy Conservation - CRCHI has made significant strides in energy conservation, achieving a total energy consumption of 0.0113 tons of standard coal per ten thousand yuan of output value, a reduction of 1% year-on-year [13]. Social Responsibility - The company actively participates in rural revitalization efforts, providing support to local communities and enhancing living conditions through various initiatives [14][15]. - CRCHI has engaged in social welfare activities, including educational support and community service, benefiting numerous individuals and families [16][17]. Innovation and Technology - The company focuses on independent innovation, developing key technologies in underground engineering equipment and achieving significant breakthroughs in various fields [25][26]. - CRCHI has filed numerous patents, with a total of 3,006 effective patents, demonstrating its commitment to technological advancement [19]. Supply Chain Management - The company emphasizes supply chain security by diversifying suppliers and establishing long-term partnerships to mitigate risks [24][28]. - CRCHI has implemented inventory management strategies, including consignment and delivery models, to optimize procurement processes [27]. Quality Management - The company maintains a robust quality management system, ensuring high standards in product development and manufacturing processes [29][30].

Core Viewpoint - The announcement details the confirmation of daily related transactions for the year 2024 and the expected transactions for 2025, which require approval from the shareholders' meeting. The transactions are conducted fairly and transparently, ensuring no harm to the company's independence or minority shareholders' interests [1][2][15]. Summary by Sections Daily Related Transactions Overview - The company has confirmed the actual daily related transactions for 2024 and estimated transactions for 2025, which will be submitted for shareholder approval [1]. - The transactions are based on actual operational needs and adhere to principles of fairness, justice, and voluntary participation, ensuring compliance with relevant laws and regulations [2]. Transaction Details - The estimated and actual amounts for daily related transactions in 2024 are as follows: - Sales of products and services to related parties amounted to 150,000,000 CNY, with actual occurrences of 107,971,800 CNY, attributed to changes in sales activities [2][4]. - Other related transactions included 10,000,000 CNY estimated, with actual occurrences of 522,260 CNY, also due to sales activity changes [2][4]. - The total estimated amount for daily related transactions in 2025 is projected at 1,271,000,000 CNY, with various categories outlined [3][4]. Related Parties and Relationships - The main related party involved is China Railway Construction Corporation, which holds a controlling stake in the company [5][6]. - The company maintains a long-term cooperative relationship with its related parties, ensuring that transactions do not adversely affect its financial status or independence [14][15]. Pricing and Fairness of Transactions - The pricing for related transactions is determined based on market principles, ensuring fairness and transparency, with no detrimental impact on the company or its shareholders [10][12][14]. - The company has established agreements that govern the terms of transactions with related parties, ensuring compliance with legal and regulatory standards [11][12]. Conclusion and Endorsement - The sponsor institution has reviewed the daily related transactions and found them compliant with legal and regulatory requirements, affirming that they are necessary for the company's operations and do not harm the interests of non-related shareholders [15].