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研報掘金丨中信建投:維持中國中車“買入”評級,動車組新造與高級修業務表現亮眼
格隆匯 03-31 16:04

中信建投證券研報指出,2024Q4中國中車(601766.SH)業績增速放緩,但動車組新造與高級修業務仍表現亮眼。軌交板塊,鐵路市場維持高景氣,城軌市場靜待拐點,公司在新增市場與存量更新市場同步受益。新增市場方面,2024年底斬獲動車組大額訂單,爲2025Q1 業績形成有力支撐,CR450的商業化值得期待。修理改裝方面,動車組五級修已進入高峯期,遠期空間廣闊。機車更新方面,新能源機車有望在2025年批量交付,爲公司貢獻增長動能。新產業板塊,風電等清潔能源裝備爲公司2024Q4新簽訂單貢獻較快增速,對2025年業績形成有效補充。維持“買入”評級。

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