High-speed rail concept stocks rose collectively. As of press release, CRRC (01766) rose 4.09% to HK$4.83; Times Electric (03898) rose 3.44% to HK$31.55; China Express (03969) rose 2.07% to HK$3.45; and China Railway (00390) rose 1.84% to HK$4.43.
The Zhitong Finance App learned that high-speed rail concept stocks rose collectively. As of press release, CRRC (01766) rose 4.09% to HK$4.83; Times Electric (03898) rose 3.44% to HK$31.55; China Express (03969) rose 2.07% to HK$3.45; and China Railway (00390) rose 1.84% to HK$4.43.
According to Everbright Securities, on May 10, 2024, China Railway Group tendered 165 standard trains, which exceeded the total number of 164 standard EMU tenders for 23 years. The cumulative number of EMU tenders in the first half of the year increased 60% year-on-year. From January to April 2024, railways across the country completed fixed asset investment of 184.9 billion yuan, an increase of 10.5% over the previous year. From January to March 2024, railways across the country sent 1.01 billion passengers, an increase of 28.5% over the previous year. We believe that the rail transit equipment industry will directly benefit from the increase in railway investment, the increase in demand for EMU due to the recovery in passenger flow, and the increase in demand for locomotive renewal and EMU maintenance.
According to statistics from the Ministry of Transport, according to statistics from the Ministry of Transport, in April, 54 cities operating urban rail transit across the country completed a total of 2.76 billion city rail passenger traffic, a slight decrease of 1.6% over the previous month and an increase of 8.8% over the previous year. We believe that urban rail is an effective way to solve the travel problem in the metropolitan area. Urban rail construction is expected to continue to grow in the future, and fixed asset investment in rail transit is expected to continue to grow under the goal of building a strong transportation country.