GLONGHUI, May 13 | CRRC rose sharply by more than 9%, and hit a new four-year high. Times Electric rose more than 7%. China Communications Construction, Guangshen Railway Co., Ltd., and China Railway all rose by more than 4%. China Express, China Metallurgical, and China Railway Construction all rose. According to the news, on May 10, the China Railway procurement platform issued an EMU tender notice. Shen Wan Hongyuan pointed out that 165 groups were first tendered in '24, and 103 groups were first tendered last year, an increase of 60%. All of the current tenders were 350 km/h models, which surpassed the total number of 164 tenders last year. This tender volume is the highest number of tenders in the past four years. Looking at the year, China Railway Group still has 2-3 tenders this year, and it is expected that there will be more than 300 tenders throughout the year. Huatai Securities pointed out that China Railway's first EMU tender in '24 has exceeded 23 full years, supporting CRRC's performance growth. If railway fixed asset investment maintains a 10% year-on-year increase throughout the year, the investment amount for the full year of '24 will reach 841 billion yuan. Continued growth in railway fixed asset investment is expected to drive EMU tenders/advanced EMU repairs.