According to the news on the website of the State Railway Administration on December 23, the State Railway Administration recently issued the “14th five year plan” for railway scientific and technological innovation, which defines the guiding ideology, basic principles, development objectives and key tasks of China’s railway scientific and technological innovation during the 14th five year plan period. The plan is the first five-year development plan on scientific and technological innovation in China’s railway field. It is of great significance to promote the self-reliance of Railway Science and technology, promote the high-quality development of railway, and support the construction of a powerful country in science and technology and transportation.
The plan specifies that by 2025, the railway’s innovation ability and scientific and technological strength will be further improved, the technical equipment will be more advanced and applicable, the engineering construction technology will continue to be in the lead, the technical level of transportation services will be significantly enhanced, the intelligent railway technology will make a comprehensive breakthrough, the safety assurance technology will be significantly improved, the green and low-carbon technology will be widely used, the innovation system will be more perfect, and the overall technical level will be in the lead in the world, It also puts forward seven main objectives, and looks forward to the long-term objectives of 2035.
Zheshang Securities Co.Ltd(601878) pointed out that from the perspective of the national railway market, the main value of the industrial chain is distributed in the whole vehicle, signal and control system and post market. About 88 vehicles need to be purchased per 100 km; The cost of the signal system in the new line is 10 million yuan per kilometer, while the reconstruction of the existing line is 16 million yuan per kilometer; The actual classification system of maintenance market is 9 million yuan / train for three-level maintenance, 18 million yuan / train for four-level maintenance and 36 million yuan / train for five-level maintenance. From the perspective of urban rail market, the main value of industrial chain is also mainly distributed in vehicle, signal and control system and post market. About 6 vehicles need to be purchased per kilometer; The cost of the signal system in the new line is 10 million yuan per kilometer, while the reconstruction of the existing line is 16 million yuan per kilometer; Operation and maintenance costs 25 million yuan per train.
Zheshang Securities Co.Ltd(601878) three main investment lines are suggested: 1) underestimated vehicle leaders and core parts; 2) The first batch of high-speed railways began to enter the maintenance stage, and the companies with earlier layout in the post market; 3) Companies with large long-term incremental space for urban rail and high proportion of Urban Rail business. It is recommended to pay attention to the underestimated vehicle equipment leaders Crrc Corporation Limited(601766) , China Railway Hi-Tech Industry Corporation Limited(600528) ; Core parts manufacturers China Railway Signal & Communication Corporation Limited(688009) and Guangdong Huatie Tongda High-Speed Railway Equipment Corporation(000976) ; Benefit from Beijing Tianyishangjia New Material Corp.Ltd(688033) and China High-Speed Railway Technology Co.Ltd(000008) in the post high-speed rail market; Urban Rail business accounts for relatively high Traffic Control Technology Co.Ltd(688015) and Shanghai Huaming Intelligent Terminal Equipment Co.Ltd(300462) .
The Pacific Securities Co.Ltd(601099) securities recommend Zhejiang Tiantie Industry Co.Ltd(300587) . The company is a leading company in the field of vibration and noise reduction of rail transit. The downstream urban rail belongs to one of the main fields of “new infrastructure”, with relatively full medium and long-term demand.
(Securities Times)
