Times Electric (03898) rose more than 4% at the end of the session. As of press release, it rose 4.27% to HK$31.7, with a turnover of HK$91.633 million.
The Zhitong Finance App learned that Times Electric (03898) rose more than 4% at the end of the session. As of press release, it had risen 4.27% to HK$31.7, with a turnover of HK$91.633 million.
According to a report published by HSBC Research, China Railway Group will open its first tender for locomotives in 2024, with a contract amount of 28 billion yuan, making it the largest high-speed rail train tender since 2018. The bank expects another tender in the fourth quarter of this year, which may raise the annual EMU tender scale to 220 units; railway locomotive tenders may be announced soon. For CRRC, the target price was raised from HK$5.6 to HK$6.1, and for Times Electric, the target price was raised from HK$38 to HK$41. The ratings were all “buy”.
Southwest Securities pointed out that China Railway's initial tender for advanced EMU repair reached 361 groups in '24, of which 207 were grade 5 repair groups, accounting for 57% (290 in '23, of which 108 were grade 5); subsequently, with the acceleration of equipment replacement, EMU maintenance volume, and the increase in tenders and deliveries of new locomotives, the rail transit industry may welcome a new round of growth opportunities.