Fintegrity | JPMorgan stated that the recent development of China's railroads industry has highlighted a stable investment environment, especially against the backdrop of increased financial volatility triggered by the U.S. election, making Chinese railroad investments seen as a safe haven. The bank pointed out that the increase in passenger volumes for rail transportation is driving strong demand for trains. On November 5, the national railway group released the second round of bids for 80 standard train units, helping to support CRRC Corporation (01766) and Times Electric (03898) in the fourth quarter of 2024 and the first quarter of 2025. Furthermore, CRRC Corporation's financial situation is improving, and the fare increase implemented in June has further eased financial pressure. Therefore, the bank holds an optimistic view on CRRC Corporation and Zhuzhou CRRC, believing that they will benefit from the growth in China's railroad equipment capital expenditure.