来源：金融界 中诚信国际认为深圳市的政治经济地位重要，经济财政实力及增长能力在国内领先，潜在的支持能力很 强。深圳市地铁集团有限公司（以下简称"深圳地铁"或"公司"）在深圳市轨道交通领域中发挥重要作 用，战略地位显著，具备极强的业务竞争力，能得到深圳市政府的大力支持，资本实力极强，地铁线路 运营良好。但同时，债务增长较快且未来面临一定的资本支出压力、站城开发业务易受房地产市场及调 控政策影响、受万科股份经营变化及减值计提影响，2024年公司净利润出现重大亏损。上述因素以及公 司与万科股份的关联交易事项对公司整体信用状况造成的影响需持续关注。正面强劲的区域经济财政 实力。深圳市作为我国首个经济特区，地理位置优越，经济高度发达，区域经济财政实力及增长能力在 国内处于领先水平。战略地位显著，具备极强的业务竞争力。公司是深圳市轨道交通建设和运营的重 要主体，战略地位显著，目前构建了"轨道+"的业务发展格局，具备极强的竞争力。有力的外部支 持。公司在进行地铁建设和运营以及站城开发过程中，持续获得了政府在相关政策和项目资本金拨付等 方面的大力支持，资本实力极强。地铁线路运营良好。截至2025年3月末，公司已开通地铁运营线 ...

Group 1 - The core achievement of the Shenzhen Metro Group in Q1 is a fixed asset investment of 14.688 billion yuan, representing a 14% increase compared to the same period last year, successfully meeting the initial annual target [1][3] - The total investment in ongoing projects exceeds 700 billion yuan, with a total of 598.7 kilometers of rail construction planned for the year, including multiple metro lines and intercity railways [3][6] - The operational mileage of the Shenzhen urban rail transit network has reached 595.1 kilometers, with 18 lines, achieving a "1 kilometer metro rate" of 97%, facilitating a convenient "one-hour living circle" for residents [5][6] Group 2 - In Q1, the operating revenue of the Shenzhen Metro Group was 3.132 billion yuan, with significant performance in various business sectors, including real estate development [6][7] - The company delivered 954 housing units in Q1, with a total sales revenue of 3.422 billion yuan, indicating strong market confidence and demand [6][7] - The metro system's passenger traffic in the first three months exceeded 747 million, with a public transport share of 68.3%, reflecting a 7.7% year-on-year increase in daily passenger flow [4][6]