Gelonghui, April 2 | Guoxin Securities Research Report pointed out that China Railway (601390.SH)'s overall performance growth rate was steady, growth accelerated in the fourth quarter, overseas orders were high, and the volume of on-hand orders was sufficient. The mineral resources sector's contribution to performance is expected to increase, and the value needs to be reassessed. The company has a reasonable valuation of 8.08-8.9 yuan, with a 12.3%-23.8% premium over the current stock price, maintaining a “buy” rating. The company signed a new contract amount of 310.6 billion yuan in 2023, an increase of 2.2% over the previous year, the guarantee ratio for new orders was 2.45, and the uncompleted contract amount was 5876.41 billion yuan, an increase of 19.2% over the previous year. The order reserves are sufficient, and the steady growth in performance is supported.
研报掘金丨国信证券：中国中铁Q4增长提速，在手订单量充足，维持“买入”评级
Research Report Nuggets丨Guoxin Securities: China Railway Q4 is growing faster, has sufficient orders in hand, and maintains a “buy” rating
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