The 14th five year plan for the development of modern comprehensive transportation system issued on January 18 proposed that by 2025, the integrated development of comprehensive transportation will be basically realized, the intellectualization and greening will make a substantive breakthrough, the comprehensive capacity, service quality, operation efficiency and overall benefits will be significantly improved, and the development of transportation will move forward to the world-class level.
In terms of railway, the main channel of “eight vertical and eight horizontal” high-speed railway is the main framework, the regional connecting lines of high-speed railway are connected, and some intercity railways taking into account the functions of trunk lines are supplemented. The high-speed railway network with a speed standard of 250 km and above is mainly adopted, covering more than 95% of cities with a population of more than 500000, and the bottleneck sections of ordinary speed railway are basically eliminated.
Galaxy Securities pointed out that by the end of 2020, China’s railway business mileage had reached 146300 kilometers, including 37929 kilometers of high-speed railway, and the mileage of high-speed railway was the first in the world. The development of China’s high-speed railway has experienced the process from introduction, digestion and absorption to re innovation. During the 13th Five Year Plan period, the localization rate of high-speed railway equipment has increased year by year, and the Chinese standard system has been released. The Chinese standard EMU covers models ranging from 160 km to 400 km. The high-speed railway has also become a beautiful business card for China’s high-end equipment manufacturing. In the 14th five year plan, the development task of railway will change from construction scale to scientific and technological innovation, promote high-quality development, and become the original innovation and core technology center in the development of Railway Science and technology in the world.
The localization rate of core components of China’s high-speed railway is high. At present, the unfinished localization mainly focuses on core components such as braking system, axle, bearing and IGBT. It is estimated that the annual market space of braking system is about 8-10 billion and that of axle is about 4-5 billion. In addition to the core components to be broken through, the plan also puts forward requirements in the integration of new generation information technology and the upgrading of tunneling technology. In terms of targets, related targets in the field of vehicle equipment are Crrc Corporation Limited(601766) , CRRC Zhuzhou Crrc Times Electric Co.Ltd(688187) , Guangdong Huatie Tongda High-Speed Railway Equipment Corporation(000976) ; Relevant targets in the field of TBM China Railway Hi-Tech Industry Corporation Limited(600528) , China Railway Construction Heavy Industry Corporation Limited(688425) ; Relevant targets in the field of communication signals China Railway Signal & Communication Corporation Limited(688009) ; CRRC Zhuzhou Crrc Times Electric Co.Ltd(688187) related to IGBT.
