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Software copyright & R&D IP软件著作权与研发知识产权
15 · 2024-01-07 → 2026-05-09
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Registration of new software copyrights for railway, tunnel, bridge, and concrete analysis systems.注册铁路、隧道、桥梁和混凝土分析系统的新软件著作权。
2024-01-07China Railway registered a software copyright for 'High-speed Rail Track Slab Ultrasonic Continuous Detection Processing Software V1.0'.中国中铁注册了《高铁轨道板超声波连续检测处理软件V1.0》软件著作权。
2024-03-01China Railway registered software copyright for 'High Geostress Deep Tunnel Excavation Unloading Surrounding Rock Damage Degree Prediction Software V1.0'.中国中铁新注册《高地应力深埋隧道开挖卸荷围岩损伤程度预测软件V1.0》软件著作权。
2024-03-07China Railway registered software copyrights for 'Concrete Structure Durability Assessment and Prediction System V1.0' and 'Multi-factor Coupled Concrete Freeze-thaw Damage Model and Life Prediction System V1.0'.中国中铁新注册《混凝土结构耐久性评估与预测系统V1.0》和《多因素耦合作用下混凝土的冻融损伤模型和寿命预测系统V1.0》软件著作权。
2024-03-08China Railway registered software copyright for 'Railway Track-Bridge System Seismic Analysis Software Based on System Safety Performance V1.0'.中国中铁新注册《铁路轨道－桥梁系统基于系统安全性能的抗震分析软件V1.0》软件著作权。
2024-04-20China Railway registered a new software copyright 'Railway Line Case Big Data Modeling and Analysis System V1.0'; total 18 new software copyrights in 2024; R&D spending in 2023 was 30 billion yuan, up 8.14% YoY.中国中铁新注册《铁路线路案例大数据建模分析系统V1.0》软件著作权；2024年以来共注册18个；2023年研发投入300亿元，同比增长8.14%。
2024-08-16China Railway registered a new software copyright, 'Mechanical Property Testing and Maintenance Assistance System V1.0', bringing its total new software copyrights in 2024 to 19.中国中铁新注册《力学性能检测运维辅助系统V1.0》软件著作权，2024年以来累计新注册软件著作权19个。
2024-09-06China Railway registered a new software copyright, 'Bridge Technical Condition Rating Prediction Software V1.0', bringing its total new software copyrights in 2024 to 20.中国中铁新注册《桥梁技术状况等级预测软件V1.0》软件著作权，2024年以来累计新注册软件著作权20个。
2024-12-06China Railway registered a new software copyright 'Extended Finite Element Fracture Analysis Software Based on Minimum Total Energy Principle V1.0'; total 21 software copyrights registered in 2024, up 2000% YoY.中国中铁新注册《基于最小总能量原理的拓展有限元断裂分析软件V1.0》软件著作权；2024年共注册21个软件著作权，同比增长2000%。
2025-01-05China Railway registered 4 new software copyrights, including bridge durability assessment software, but R&D investment in H1 2024 was 92.25 billion yuan, down 10.36% YoY.中国中铁新注册4个软件著作权，包括桥梁耐久性评估软件等，但2024上半年研发投入922.5亿元，同比减少10.36%。
2025-01-23China Railway registered a new software copyright for 'Extreme Environment Structural Load Visualization Analysis Software V1.0'. Total software copyrights registered this year reached 6, down 45.45% YoY.中国中铁新注册《极端环境下结构荷载可视化分析软件V1.0》软件著作权，今年以来新注册6个，同比减少45.45%。
2025-02-11China Railway registered three new software copyrights: 'High-speed Railway Tunnel Crack Static-Dynamic Response Monitoring and Analysis Software V1.0', 'Prediction and Analysis Software for Water Pressure Characteristics under High-speed Railway Tunnel Bottom under Precipitation Influence V1.0', and 'Simulation and Analysis Software for Structural Response under Strong Wind Action V1.0'.中国中铁新注册3项软件著作权，包括《高铁隧道裂缝静动态响应监测分析软件V1.0》、《降水影响下高铁隧道隧底水压特征预测分析软件V1.0》、《一种强风作用下结构响应仿真分析软件V1.0》。
2026-03-10Registered a new software copyright: 'Railway Track Bed-Subgrade Multi-Source Monitoring Data Fusion Intelligent Early Warning and Decision System V1.0'.新注册软件著作权《铁路道床-路基多源监测数据融合智能预警与决策系统V1.0》。
2026-03-15Registered a new software copyright: 'Multi-Objective Optimization-Based High-Performance Concrete Mix Proportion Intelligent Design Platform V1.0'.新注册软件著作权《基于多目标优化的高性能混凝土配合比智能设计平台V1.0》。
2026-03-27Registered a new software copyright: 'Machine Vision-Based Intelligent Identification Software for Railway Ballast Bed Surface Contamination V1.0'.新注册软件著作权《基于机器视觉的铁路有砟道床表面脏污智能辨识软件V1.0》。
2026-05-09China Railway registered a new software copyright for 'Mill Pump Pool Liquid Level Intelligent Monitoring and Slurry Pump Automatic Frequency Regulation PLC Control System V1.0', bringing total software copyrights to 11 in 2026; R&D spending in 2025 was 22.443 billion yuan, down 15.73% YoY.中国中铁新注册《磨矿泵池液位智能监测与渣浆泵自动频率调节PLC控制系统V1.0》软件著作权，2026年累计新注册11个；2025年研发投入224.43亿元，同比减少15.73%。
Real estate & land acquisition房地产与土地收购
10 · 2024-01-08 → 2025-08-15
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Land parcel wins, property development results, and real estate joint ventures.土地中标、房地产开发业绩和房地产合资企业。
2024-01-08China Railway's subsidiary Xi'an Tianyu Hengye Real Estate won a 85.151-mu commercial-residential land parcel in Xi'an Chanba Ecological Zone for RMB 1.185 billion.中国中铁子公司西安天域恒业置业以11.85亿元竞得西安浐灞生态区85.151亩商住用地。
2024-01-17China Railway's Q4 2023 property development: new land reserve 501,000 sqm (down 38.4% YoY), contracted sales area 1.177 million sqm (down 18.7%), contracted sales amount RMB 22.586 billion (down 7.4% YoY).中国中铁2023年第四季度房地产开发新增土地储备50.1万平方米（同比降38.4%），签约面积117.7万平方米（同比降18.7%），签约金额225.86亿元（同比降7.4%）。
2024-03-28China Railway and Huafa Co., Ltd. jointly established Shanghai Huaxie Real Estate Development Co., Ltd. with registered capital of 3.688 billion yuan, for real estate development and leasing.中国中铁与华发股份共同成立上海铧协房地产开发有限公司，注册资本36.88亿元，从事房地产开发经营和住房租赁。
2024-04-19China Railway's Q1 2024 property development: contracted area 463,000 sqm (-52.7%), contracted amount 6.73 billion yuan (-60.5%); started area 185,000 sqm (-87.1%); completed area 146,000 sqm (-90.8%); new land reserve 148,000 sqm (+29.8%).中国中铁2024年一季度房地产开发：签约面积46.3万平方米（-52.7%），签约金额67.3亿元（-60.5%）；开工面积18.5万平方米（-87.1%）；竣工面积14.6万平方米（-90.8%）；新增土地储备14.8万平方米（+29.8%）。
2024-04-23China Railway's subsidiaries (China Railway Shanghai Investment Group, China Railway No.4 Engineering Group) jointly established Xuzhou Hucheng Kaizhi Real Estate Co., Ltd. with Xuzhou Metro Group, with registered capital of 100 million yuan.中国中铁全资子公司中铁（上海）投资集团、中铁四局集团与徐州地铁集团共同成立徐州沪铁城开置业有限公司，注册资本1亿元。
2024-04-24China Railway's subsidiary China Railway Real Estate's 'Zhongtie Hongqiao Yidu' project faced investor complaints about premature loan demands and lack of transparency in interior decoration and landscaping bidding.中国中铁子公司中铁置业的“中铁虹桥逸都”项目遭投资者投诉，涉及未封顶要求放款及室内装修、绿化招标不透明等问题。
2024-08-08China Railway established Nanjing Hutie Chengkai Investment Co., Ltd., a wholly-owned subsidiary, with registered capital of 10 million yuan, focusing on real estate development, construction, and investment activities.中国中铁成立全资子公司南京沪铁城开投资有限公司，注册资本1000万元，主营房地产开发经营、建设工程施工及投资活动。
2024-10-18China Railway set up a new subsidiary Beijing Jiuyue Real Estate Co., Ltd., with registered capital of 30 million yuan, held by China Railway Trust, covering real estate development and leasing.中国中铁旗下中铁信托全资设立北京玖樾置业有限公司，注册资本3000万元，业务含房地产开发经营及租赁。
2025-01-23China Railway's 2024 full-year property sales contract value was 43.43 billion yuan, down 37.6% YoY; contracted area was 2.459 million sqm, down 44.8% YoY. New land reserve was 417,000 sqm, down 48.1% YoY.中国中铁2024年全年房地产销售签约额434.3亿元，同比减少37.6%；签约面积245.9万㎡，同比减少44.8%；新增土地储备41.7万㎡，同比减少48.1%。
2025-08-15China Railway established a wholly-owned real estate subsidiary, Hohhot Tiegong Qingyun Real Estate Development Co., Ltd., with a registered capital of 30 million yuan.中国中铁成立全资房地产子公司呼和浩特铁工青云房地产开发有限公司，注册资本3000万元。
Share repurchase & cancellation股份回购与注销
14 · 2024-01-09 → 2026-06-21
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Repurchase and cancellation of restricted shares under equity incentive plans.根据股权激励计划回购和注销限制性股票。
2024-01-09China Railway repurchased and cancelled 1,566,166 restricted shares from 7 grantees at RMB 3.154 per share, totaling RMB 5.02 million.中国中铁以每股3.154元回购注销7名激励对象156.6166万股限制性股票，总金额502万元。
2024-03-12China Railway announced it would cancel approximately 1.5662 million restricted shares on March 11, 2024.中国中铁公告计划于2024年3月11日注销约156.62万股限制性股票。
2024-08-30China Railway's board approved the repurchase and cancellation of 7.3846 million restricted shares held by 43 incentive recipients under the 2021 restricted stock incentive plan, using 23.1966 million yuan of self-owned funds, reducing total shares from 24.751 billion to 24.743 billion.中国中铁董事会批准回购注销2021年限制性股票激励计划中43名激励对象持有的738.46万股限制性股票，使用自有资金2319.66万元，总股本由247.51亿股减少至247.43亿股。
2024-10-30China中铁's board approved the repurchase and cancellation of 1,380,123 restricted shares from the 2021 restricted stock incentive plan at a repurchase price of 2.944 yuan per share, due to the departure of 5 incentive recipients.中国中铁董事会审议通过回购注销2021年限制性股票激励计划部分限制性股票，数量138.0123万股，回购价格2.944元/股，涉及5名激励对象。
2024-12-20China Railway announced the repurchase and cancellation of 8.7647 million restricted shares (from 2021 equity incentive plan) due to departures, retirement, resignations, or failed assessments; total shares will reduce from 24.751 billion to 24.742 billion, effective Dec 25, 2024.中国中铁公告回购注销876.47万股限制性股票（2021年激励计划），原因为激励对象调离、退休、辞职或考核不合格；总股本由247.51亿股变更为247.42亿股，2024年12月25日完成注销。
2025-03-13China Railway (601390.SH) 5th Supervisory Board 30th meeting reviewed a proposal to repurchase and cancel part of the restricted shares under the 2021 Restricted Stock Incentive Plan.中国中铁第五届监事会第三十次会议审议了《关于回购注销中国中铁2021年限制性股票激励计划部分限制性股票的议案》。
2025-11-19China Railway repurchased and cancelled 54,786,990 restricted shares held by 678 grantees under the 2021 restricted stock incentive plan, as the third vesting period's performance targets were not met; cancellation date Nov 24, 2025.中国中铁对2021年限制性股票激励计划第三个解除限售期未达业绩考核目标的678名激励对象持有的54,786,990股限制性股票进行回购注销，注销日期2025年11月24日。
2026-01-14China Railway announced the repurchase and cancellation of 63,700 restricted shares held by one incentive recipient due to unmet performance targets for the third release period of the 2021 restricted stock incentive plan, reducing total share capital to 24,686,221,929 shares.中国中铁公告，因2021年限制性股票激励计划第三个解除限售期业绩考核未达标，对1名激励对象持有的63700股限制性股票予以回购注销，总股本减至24686221929股。
2026-04-10China Railway completed its A-share buyback plan, repurchasing 9,465,000 shares for ~49,999,587 yuan, to be cancelled to reduce registered capital.中国中铁完成A股回购计划，回购9,465,000股，耗资约49,999,587元，将注销以减少注册资本。
2026-04-14China Railway repurchased 9,536,600 A-shares on April 13 at a total cost of 49,999,509 yuan (max price 5.26 yuan, min 5.22 yuan), to be cancelled.中国中铁于4月13日回购9,536,600股A股，总金额49,999,509元（最高价5.26元，最低价5.22元），将注销。
2026-05-07China Railway (601390.SH) announced that as of April 30, 2026, it had repurchased 89.94 million A-shares (0.3643% of total share capital) for a total of 480 million yuan, with the highest price 5.75 yuan/share and lowest 5.06 yuan/share, as part of a plan to repurchase 0.8-1.6 billion yuan of shares for cancellation.中国中铁(601390.SH)公告，截至2026年4月30日，累计回购A股8994万股（占总股本0.3643%），成交总金额4.8亿元，最高价5.75元/股，最低价5.06元/股，属于8-16亿元回购注销计划的一部分。
2026-05-18China Railway repurchased 10.2086 million A-shares on the Shanghai Stock Exchange on May 18, 2026, at a price range of 4.87-4.94 yuan per share, with a total payment of 49.9999 million yuan.中国中铁于2026年5月18日在上交所回购1020.86万股A股，回购价格区间4.87-4.94元/股，支付总金额4999.99万元。
2026-06-01As of May 31, 2026, China Railway has cumulatively repurchased 136 million A-shares (0.5498% of total share capital) for a total of 710 million yuan, with a highest price of 5.75 yuan/share and a lowest price of 4.87 yuan/share.截至2026年5月31日，中国中铁累计回购A股1.36亿股（占总股本0.5498%），成交总金额7.1亿元，最高价5.75元/股，最低价4.87元/股。
2026-06-21China Railway completed its A-share buyback, repurchasing 155 million shares (0.6275% of total share capital) for 800 million yuan at an average price of 5.16 yuan/share; all shares will be cancelled on June 22, 2026.中国中铁完成A股回购，实际回购1.55亿股（占总股本0.6275%），使用资金8亿元，回购均价约5.16元/股；全部股份将于2026年6月22日注销。
Asset revitalization & ABS资产盘活与资产支持证券
6 · 2024-01-10 → 2025-11-16
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Asset-backed securitization of expressway projects and capital recovery.高速公路项目的资产支持证券化和资金回收。
2024-01-10China Railway (Shanghai) Investment Group completed asset revitalization of the Xinyi Expressway project, recovering RMB 857 million in capital and releasing RMB 7.1 billion in interest-bearing debt.中铁（上海）投资集团完成新伊高速公路项目资产盘活，收回资本金8.57亿元，释放有息负债71亿元。
2024-09-24China Railway's 2024高速公路基础设施投资 asset-backed securities (ABS) project, with a proposed total of 14.582 billion yuan, was accepted by the Shanghai Stock Exchange.中国中铁2024年高速公路基础设施投资资产支持专项计划（ABS）项目状态更新为‘已受理’，拟发行总额145.82亿元。
2024-11-04China Railway's 14.582B yuan expressway infrastructure investment ABS project (by Huadian Jintai) received feedback from Shanghai Stock Exchange.中国中铁145.82亿元高速公路基础设施投资资产支持专项计划（由华电金泰发行）获上交所反馈。
2024-11-27China Railway successfully issued a 14.582B yuan expressway infrastructure investment ABS (class A: 14.581B yuan, rate 2.80%, AAA rating), setting records for the largest consolidated REITs and largest single ABS on the exchange market.中国中铁成功发行145.82亿元高速公路基础设施投资资产支持专项计划（优先级利率2.80%，AAA评级），创交易所市场并表型类REITs和单期ABS最大规模纪录。
2024-12-26China Railway confirmed that on Nov 25, 2024, it issued the '2024 Expressway Infrastructure Investment Asset-Backed Special Plan' with total size of 14.582 billion yuan (senior tranche 14.581 billion yuan, coupon 2.80%, AAA rating, tenor 5+5+5+5+5+2.7268 years).中国中铁确认于2024年11月25日发行“2024年高速公路基础设施投资资产支持专项计划”，发行规模145.82亿元（优先级145.81亿元，利率2.80%，评级AAA，期限5+5+5+5+5+2.7268年）。
2025-11-16China Railway's first holding-type real estate ABS, 'China Railway Noble Holding-type Immovable Property Asset-backed Special Plan', was listed on the Shanghai Stock Exchange, marking a key step in securitizing state-owned enterprise real estate assets.中国中铁首单持有型不动产ABS——“中铁诺德持有型不动产资产支持专项计划”在上交所挂牌，标志着央企证券化盘活不动产的关键进展。
Internal restructuring & subsidiary setup内部重组与子公司设立
2 · 2024-01-10 → 2024-01-12
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Equity transfers and new subsidiary establishments for internal optimization.为内部优化进行的股权转让和新子公司设立。
2024-01-10China Railway transferred 100% equity of China Railway Cultural Tourism Investment Group to China Railway Real Estate Group for internal restructuring.中国中铁将中铁文化旅游投资集团100%股权转让给中铁置业集团，进行内部重组。
2024-01-12China Railway Tunnel Bureau established a new subsidiary, China Railway Tunnel Bureau Group (Shanghai) Special High-Tech Co., Ltd., with registered capital of RMB 100 million, focusing on geological disaster control and new material R&D.中铁隧道局集团成立新子公司中铁隧道局集团（上海）特种高新技术有限公司，注册资本1亿元，专注于地质灾害治理和新材料研发。
Major contract wins重大合同中标
7 · 2024-01-17 → 2026-01-29
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Winning bids for major infrastructure projects across railways, highways, and urban transit.中标铁路、公路和城市交通等重大基础设施项目。
2024-01-17China Railway won 20 major projects with total bid value of approximately RMB 122.338 billion, accounting for 10.62% of its 2022 revenue.中国中铁中标20项重大工程，中标价合计约1223.38亿元，约占2022年营业收入的10.62%。
2024-07-24China Railway won multiple major projects with total bid price of approximately RMB 43.177bn, accounting for 3.42% of 2023 revenue.中国中铁近期中标多项重大工程，中标价合计约431.77亿元，约占2023年营业收入的3.42%。
2024-11-23China Railway won the bid for the Shenzhen Gangxiabei Comprehensive Transportation Hub project, as disclosed in a performance announcement.中国中铁中标深圳市岗厦北综合交通枢纽工程主体工程，业绩公示披露。
2025-01-24China Railway announced winning multiple major projects with a total bid price of approximately 86.335 billion yuan, accounting for about 6.85% of its 2023 revenue under Chinese accounting standards.中国中铁公告近期中标多项重大工程，中标价合计约863.35亿元，约占公司2023年营业收入的6.85%。
2025-04-07China Railway announced winning multiple major projects with total bid price of about 66.772 billion yuan, including Yichang-Fuling high-speed railway (24.709 billion yuan), Nantong-Ningbo high-speed railway (14.099 billion yuan), and Kunming Changshui Airport expansion (1.736 billion yuan).中国中铁公告近期中标多个重大工程，中标价合计约667.72亿元，包括宜昌至涪陵高速铁路（247.09亿元）、南通至宁波高速铁路（140.99亿元）、昆明长水机场改扩建（17.36亿元）等。
2026-01-27China Railway disclosed that it won multiple bids for the Guangzhou East Station renovation and the Guangzhou East to Xintang fifth and sixth railway line project.中国中铁披露，中标广州东站改造及广州东至新塘五六线施工总价承包项目多个标段。
2026-01-29China Railway announced winning 12 major projects with a total bid value of approximately 43.292 billion yuan, accounting for about 3.74% of its 2024 revenue under Chinese accounting standards. Projects include 8 railway, 3 highway, and 1 municipal project.中国中铁公告，近期中标12个重大工程，合计金额约432.92亿元，约占2024年营业收入的3.74%，包括8项铁路工程、3项公路工程和1项市政工程。
Quarterly & annual operating results季度及年度经营业绩
31 · 2024-01-17 → 2026-04-29
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Periodic disclosure of new contracts, revenue, and profit figures.定期披露新签合同、收入和利润数据。
2024-01-17China Railway reported Q4 2023 new contracts of RMB 1,298.35 billion; full-year 2023 new contracts reached RMB 3,100.6 billion, up 2.2% YoY.中国中铁2023年第四季度新签合同额12983.5亿元；全年新签合同额31006亿元，同比增长2.2%。
2024-03-28China Railway announced 2023 annual results: revenue of 1,260.841 billion yuan, up 9.5% YoY; net profit of 33.483 billion yuan, up 7.07% YoY; proposed dividend of 2.10 yuan per 10 shares, totaling 4.314 billion yuan.中国中铁发布2023年年报：营业收入12608.41亿元，同比增长9.5%；净利润334.83亿元，同比增长7.07%；拟每10股派发现金红利2.10元，合计43.14亿元。
2024-03-28China Railway reported 2023 new contracts of 3,100.6 billion yuan, up 2.2% YoY; engineering construction new contracts of 2,250.97 billion yuan, up 11.4% YoY; R&D spending exceeded 30 billion yuan, accounting for 2.38% of revenue.中国中铁2023年新签合同额31006亿元，同比增长2.2%；工程建造新签合同额22509.7亿元，同比增长11.4%；研发投入突破300亿元，占营收2.38%。
2024-04-17China Railway reported 2023 full-year results: new contracts 3.1006 trillion yuan (+2.2%), revenue 1.26348 trillion yuan (+9.5%), net profit 37.64 billion yuan (+7.6%), basic EPS 1.294 yuan (+8.0%), gross margin 10.15% (+0.14 ppt).中国中铁公布2023年全年业绩：新签合同额31006亿元（+2.2%），营收12634.8亿元（+9.5%），净利润376.4亿元（+7.6%），基本每股收益1.294元（+8.0%），综合毛利率10.15%（+0.14个百分点）。
2024-04-19China Railway reported Q1 2024 new contracts of 621.64 billion yuan, down 6.9% YoY; equipment manufacturing down 10.7%, asset management down 70.1%, resources utilization down 6.6%, financial trade up 4.8%; domestic contracts down 8.8%.中国中铁公布2024年一季度新签合同额6216.4亿元，同比下降6.9%；装备制造下降10.7%，资产经营下降70.1%，资源利用下降6.6%，金融物贸增长4.8%；境内合同下降8.8%。
2024-04-29China Railway reported Q1 2024 revenue of 265.011 billion yuan, down 2.56% YoY.中国中铁披露2024年第一季度营收2650.11亿元，同比下降2.56%。
2024-07-29China Railway reported Q2 2024 new contracts of RMB 456.86bn; cumulative H1 new contracts RMB 1,078.5bn, down 15.3% YoY.中国中铁公告2024年第二季度新签合同额4568.6亿元；上半年累计新签合同额10785亿元，同比下降15.3%。
2024-08-13China Railway reported new contracts of 750.44 billion yuan for Jan-Jul 2024, down 6.4% YoY, but overseas new contracts surged 83.0% to 44.39 billion yuan.中国中铁2024年1-7月新签合同额7504.4亿元，同比下降6.4%，但海外新签合同额443.9亿元，同比增长83.0%。
2024-08-30China Railway reported H1 2024 revenue of 543.285 billion yuan, down 7.84% YoY; net profit attributable to shareholders of 14.278 billion yuan, down 12.08% YoY. New contracts totaled 1,078.5 billion yuan, down 15.3% YoY.中国中铁2024年上半年营业收入5432.85亿元，同比下降7.84%；归母净利润142.78亿元，同比下降12.08%。新签合同额10785亿元，同比下降15.3%。
2024-09-01China Railway's H1 2024 net profit attributable to shareholders fell 12.08% YoY to 14.278 billion yuan; revenue fell 7.83% YoY to 544.522 billion yuan.中国中铁2024年上半年归母净利润同比下降12.08%至142.78亿元；营业收入同比下降7.83%至5445.22亿元。
2024-10-25China Railway reported third-quarter 2024 new contract value of 449.36 billion yuan, cumulative new contracts for the year of 1,527.86 billion yuan, down 15.2% year-on-year.中国中铁公告2024年第三季度新签合同额4493.6亿元，本年累计新签合同额15278.6亿元，同比下降15.2%。
2024-10-30China Railway reported Q3 2024 revenue of 275.194 billion yuan, down 6.22% year-on-year; net profit attributable to shareholders of 6.29 billion yuan, down 19.05% year-on-year; diluted EPS of 0.252 yuan, down 18.18%.中国中铁发布2024年第三季度报告：营业收入2751.94亿元，同比下降6.22%；归母净利润62.9亿元，同比下降19.05%；稀释每股收益0.252元，同比下降18.18%。
2024-11-01China Railway reported 2024 Q3 results: revenue 820.283B yuan, down 7.26% YoY; net profit 20.57B yuan, down 14.33% YoY; accounts receivable surged 53.5%.中国中铁发布2024年三季报：营业总收入8202.83亿元，同比下降7.26%；归母净利润205.7亿元，同比下降14.33%；应收账款同比增幅达53.5%。
2024-11-18China Railway disclosed that in the first nine months of 2024, its railway business secured new contracts worth 169.59B yuan.中国中铁披露2024年1-9月铁路业务新签合同额1695.9亿元。
2025-01-22China Railway's H1 2024 revenue was 543.285 billion yuan, down 7.84% YoY; net profit attributable to parent was 14.278 billion yuan, down 12.08% YoY; operating cash flow was -69.332 billion yuan.中国中铁2024年上半年营业收入5432.85亿元，同比下降7.84%；归母净利润142.78亿元，同比下降12.08%；经营活动现金流净额-693.32亿元。
2025-01-23China Railway's 2024 full-year new contract value was 2.718 trillion yuan, down 12.4% YoY. Engineering construction contracts fell 16.9% to 1.871 trillion yuan. Overseas contracts rose 10.6% to 220.9 billion yuan.中国中铁2024年全年新签合同额2.72万亿元，同比减少12.4%；工程建造新签合同额1.87万亿元，同比下降16.9%；境外新签合同额2209亿元，同比增长10.6%。
2025-03-28China Railway (601390.SH) reported 2024 annual results: net profit 27.887 billion yuan, down 16.71% YoY; revenue 1,160.311 billion yuan, down 8.17% YoY; new contracts 2,715.18 billion yuan, down 12.4% YoY.中国中铁发布2024年年报：净利润278.87亿元，同比下降16.71%；营业收入11603.11亿元，同比下降8.17%；新签合同额27151.8亿元，同比下降12.4%。
2025-04-02China Railway reported 2024 annual results: new contracts signed fell 12.4% YoY to 2715.18 billion yuan; engineering construction new contracts fell 16.9% YoY, with highway -24.3%, municipal -25.9%, urban rail -55.8%, housing -19.7%.中国中铁发布2024年年报：新签合同额27151.8亿元，同比下降12.4%；工程建造新签合同额同比下降16.9%，其中公路-24.3%、市政-25.9%、城轨-55.8%、房建-19.7%。
2025-04-25China Railway reported Q1 2025 new contracts signed of 560.1 billion yuan, down 9.9% YoY; engineering construction 421.43 billion yuan (-10.4%); overseas new contracts 65.67 billion yuan (+33.4%).中国中铁2025年一季度新签合同额5601.0亿元，同比下降9.9%；工程建造4214.3亿元（-10.4%）；境外新签合同额656.7亿元（+33.4%）。
2025-04-29China Railway reported Q1 2025 revenue of 248.56 billion yuan, down 6.2% YoY; net profit attributable to shareholders 6.025 billion yuan, down 19.46% YoY; operating cash flow -77.399 billion yuan.中国中铁2025年一季报：营业收入2485.6亿元，同比下降6.2%；归母净利润60.25亿元，同比下降19.46%；经营性现金流-773.99亿元。
2025-05-01China Railway reported 2025Q1 revenue of RMB 248.564 billion, down 6.21% YoY; net profit attributable to parent of RMB 6.025 billion, down 19.5% YoY; new contracts signed of RMB 560.1 billion, down 9.9% YoY; domestic new contracts down 13.6% YoY; overseas new contracts up 33.4% YoY. Full-year 2025 guidance: revenue ~RMB 1,132 billion (down 2.2% YoY), new contracts ~RMB 2,800 billion (up 3.12% YoY).中国中铁公布2025年一季度营收2485.64亿元，同比下降6.21%；归母净利润60.25亿元，同比下降19.5%；新签合同额5601.0亿元，同比下降9.9%；境内新签合同额同比下降13.6%；境外新签合同额同比增长33.4%。2025年全年指引：营收约11320亿元（同比下降2.2%），新签合同额约28000亿元（同比增长3.12%）。
2025-07-17China Railway released Q2 2025 operating data: new contracts in Q2 were 548.59 billion yuan, bringing H1 cumulative new contracts to 1,108.69 billion yuan, up 2.8% YoY. Domestic new contracts were 983.82 billion yuan, down 1.2%; overseas new contracts were 124.87 billion yuan, up 51.6%. Asset operation new contracts were 101.73 billion yuan, up 425.1%.中国中铁发布2025年第二季度主要经营数据：第二季度新签合同额5485.9亿元，上半年累计11086.9亿元，同比增长2.8%。境内新签合同额9838.2亿元，同比下降1.2%；境外新签合同额1248.7亿元，同比增长51.6%。资产经营新签合同额1017.3亿元，同比增长425.1%。
2025-08-29China Railway reported 2025 H1 results: revenue of 511.093 billion yuan, down 5.93% YoY; net profit attributable to shareholders of 11.827 billion yuan, down 17.17% YoY; EPS of 0.412 yuan.中国中铁发布2025年半年报：营业收入5110.93亿元，同比下降5.93%；归母净利润118.27亿元，同比下降17.17%；基本每股收益0.412元。
2025-09-02China Railway reported H1 2025 revenue of 511.093 billion yuan, down 5.93% YoY; net profit attributable to shareholders (excl. non-recurring) of 10.268 billion yuan, down 21.59% YoY; new contracts signed 1,108.69 billion yuan, up 2.8% YoY, with overseas new contracts surging 51.6% to 124.87 billion yuan.中国中铁2025年上半年营收5110.93亿元，同比下降5.93%；扣非净利润102.68亿元，同比下降21.59%；新签合同11086.9亿元，同比增长2.8%，其中海外新签合同1248.7亿元，同比增长51.6%。
2025-10-21China Railway reported Q3 2025 new contracts of 476.23 billion yuan; cumulative 9M new contracts reached 1,584.92 billion yuan, up 3.7% YoY. Overseas contracts surged 35.2% to 166.64 billion yuan.中国中铁公布2025年第三季度新签合同额4762.3亿元；前三季度累计新签合同额15849.2亿元，同比增长3.7%。境外合同额1666.4亿元，同比增长35.2%。
2025-10-30China Railway reported Q3 2025 revenue of 262.72 billion yuan, down 4.53% YoY; net profit of 5.664 billion yuan, down 9.98% YoY. 9M revenue 776.06 billion yuan, down 5.39%; net profit 17.49 billion yuan, down 14.97%.中国中铁发布2025年第三季度报告：第三季度营收2627.2亿元，同比下降4.53%；净利润56.64亿元，同比下降9.98%。前三季度营收7760.59亿元，同比下降5.39%；净利润174.9亿元，同比下降14.97%。
2025-11-03China Railway reported Q1-Q3 2025 new contract value of 1,584.92 billion yuan, up 3.7% YoY; domestic contracts 1,418.28 billion yuan, up 1.0%; overseas contracts 166.64 billion yuan, up 35.2%.中国中铁公布2025年前三季度新签合同额15849.2亿元，同比增长3.7%；境内业务14182.8亿元，同比增长1.0%；境外业务1666.4亿元，同比增长35.2%。
2026-01-19China Railway reported Q4 2025 new contract value of 1.17 trillion yuan, bringing the full-year 2025 cumulative new contract value to 2.7509 trillion yuan, up 1.3% year-on-year. Overseas contracts rose 16.5% to 257.37 billion yuan, while domestic contracts edged down 0.03% to 2.49353 trillion yuan.中国中铁公告，2025年第四季度新签合同额1.17万亿元，全年累计新签合同额27509亿元，同比增长1.3%。境外合同增长16.5%至2573.7亿元，境内合同微降0.03%至24935.3亿元。
2026-03-302025 annual results: revenue 1,090.626 billion yuan (-5.77% YoY), net profit 22.892 billion yuan (-17.91% YoY), EPS 0.848 yuan. New contracts 2,750.9 billion yuan (+1.3% YoY). Proposed final dividend 0.086 yuan per share.2025年年报：营业收入10906.26亿元（同比-5.77%），归母净利润228.92亿元（同比-17.91%），每股收益0.848元。新签合同额27509亿元（同比+1.3%）。拟末期每股派息0.086元。
2026-04-01China Railway disclosed 2025 annual results: revenue 1,090.626 billion yuan, down 5.77% YoY; net profit attributable to parent 22.892 billion yuan, down 17.91% YoY; new contracts 2,750.9 billion yuan, up 1.3% YoY. 2026 guidance: revenue ~1,011.8 billion yuan, new contracts ~2,750 billion yuan.中国中铁披露2025年年报：营业收入10906.26亿元，同比下降5.77%；归母净利润228.92亿元，同比下降17.91%；新签合同额27509.0亿元，同比增长1.3%。2026年指引：营业收入约10118.00亿元，新签合同额约27500亿元。
2026-04-29China Railway reported Q1 2026 results: revenue 234.998 billion yuan, down 5.46% YoY; net profit attributable to parent 4.359 billion yuan, down 27.65% YoY; new contracts 338.51 billion yuan, down 39.6% YoY.中国中铁发布2026年一季报：营业收入2349.98亿元，同比下降5.46%；归母净利润43.59亿元，同比下降27.65%；新签合同额3385.1亿元，同比下降39.6%。
Corporate strategy & reform公司战略与改革
6 · 2024-01-19 → 2026-03-15
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Annual work conferences, strategic plans, and workforce reform initiatives.年度工作会议、战略规划和 workforce 改革举措。
2024-01-19China Railway held its 2024 annual work conference, setting priorities on cost reduction, quality improvement, reform, and accelerating 'High-Quality China Railway' construction.中国中铁召开2024年工作会议，部署降本提质增效、锐意改革进取，加快“高质量中铁”建设。
2024-03-13China Railway held a conference in Zhengzhou to launch a special action to deepen the reform of the industrial worker workforce from 2024 to 2025, selecting 4 benchmark units and 19 promotion units.中国中铁在郑州召开产业工人队伍建设改革推进会议，决定2024年至2025年开展深化产改专项行动，选树4家标杆单位和19家推进单位。
2024-07-18China Railway released 2024 'Quality Improvement and Efficiency Enhancement' action plan, focusing on strategic emerging industries and future industry layout.中国中铁发布2024年度“提质增效重回报”行动方案，聚焦战略性新兴产业和未来产业布局。
2024-09-04China Railway held its 2024 semi-annual业绩说明会, where Chairman Chen Yun adjusted the annual new contract target to 2.85 trillion yuan and revenue target to 1.234 trillion yuan.中国中铁举行2024年半年度业绩说明会，董事长陈云将年度新签合同额计划调整为28500亿元，营业收入计划调整为12340亿元。
2024-11-18China Railway announced it is drafting a market value management system, focusing on enhancing intrinsic value and optimizing information disclosure, in response to long-term trading below book value.中国中铁表示正在起草市值管理制度，通过提升内在价值、优化信息披露等方式推动市值提升，回应长期破净问题。
2026-03-15Held the 2026 'Big Business Management Enhancement and Debt Reduction Three-Year Action' on-site promotion meeting in Nantong, Jiangsu, emphasizing financial centralization, supply chain strengthening, and full-process value creation.在江苏南通召开2026年大商务管理再提升暨降负债三年行动现场推进会议，强调财务集约化、建强供应链及全流程价值创造。
Credit rating actions信用评级行动
3 · 2024-01-29 → 2024-05-08
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S&P rating withdrawal and other credit rating updates.标普评级撤销及其他信用评级更新。
2024-01-29S&P withdrew China Railway's 'BBB+' long-term issuer credit rating at the company's request; outlook was stable at withdrawal.标普应中国中铁要求撤销其“BBB+”长期发行人信用评级，撤销时展望稳定。
2024-03-22China Railway stated it actively requested S&P to withdraw its 'BBB+' long-term issuer credit rating, as no outstanding bonds required the rating; Moody's and Fitch maintain ratings of A3/A- with stable outlook.中国中铁表示主动申请标普撤销其“BBB+”长期发行人信用评级，因无存续债券；穆迪和惠誉维持A3/A-评级，展望稳定。
2024-05-08Joint Ratings gives China Railway a 2023 issuer credit rating of AAA/stable, citing strong profitability but heavy debt burden.联合资信给予中国中铁2023年主体信用评级AAA/稳定，指出盈利能力强但债务负担较重。
Equity incentive & share unlock股权激励与股份解锁
7 · 2024-02-05 → 2026-01-09
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Restricted share unlocking and equity incentive plan milestones.限制性股票解锁和股权激励计划里程碑。
2024-02-05China Railway will unlock 55.9108 million restricted shares on Feb 23, 2024, accounting for 0.23% of total share capital, from equity incentive plan.中国中铁将于2024年2月23日解禁5591.08万股限制性股票，占总股本0.23%，来自股权激励计划。
2024-02-06China Railway's board approved the first batch release of 55.9108 million restricted shares under the 2021 equity incentive plan, and repurchase of 1.5662 million shares from 7 grantees.中国中铁董事会批准2021年限制性股票激励计划第一批次解除限售5591.08万股，并回购注销7名激励对象156.6166万股。
2024-11-04China Railway confirmed that 2023 performance met vesting conditions for the 2021 restricted stock incentive plan, and the second batch of first tranche unlocking will proceed on schedule.中国中铁确认2023年度业绩已达到2021年限制性股票激励计划解锁条件，将按期开展首次授予部分第二批次解除限售工作。
2024-11-25China Railway will unlock 3.9581 million restricted shares (0.02% of total shares) on December 2, 2024, from the equity incentive plan.中国中铁将于2024年12月2日解禁395.81万股股权激励限售股份，占总股本0.02%。
2024-12-02395.81 thousand restricted shares (0.02% of total share capital) from equity incentive plan became unlocked on Dec 2, 2024.2024年12月2日，395.81万股股权激励限售股份解禁，占总股本0.02%。
2025-03-25China Railway (601390.SH) announced the second release period of the 2021 Restricted Stock Incentive Plan: 51.45 million shares (adjusted from 51.88 million due to ineligible participants) for 635 grantees will be listed on March 31, 2025; 2023 ROE (excl. non-recurring) was 11.47%, net profit CAGR 12.24%, meeting conditions.中国中铁公告2021年限制性股票激励计划首次授予部分第二个解除限售期：5145万股（因部分激励对象不符条件从5188万股调整）涉及635人，将于2025年3月31日上市；2023年扣非加权平均ROE为11.47%，净利润复合增长率12.24%，符合条件。
2026-01-09397.4 thousand restricted shares (0.02% of total share capital) from the 2021 restricted stock incentive plan were unlocked and became tradable on Jan 9, 2026.2021年限制性股票激励计划中的397.4万股限售股（占总股本0.02%）于2026年1月9日解禁上市流通。
Urban village renovation & old-city renewal城中村改造与城市更新
3 · 2024-02-16 → 2024-06-26
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Participation in urban village redevelopment and old-city renovation projects.参与城中村改造和旧城改造项目。
2024-02-16China Railway added the 'old-city renovation' concept; it participates in urban village redevelopment projects in mega cities like Shanghai and Guangzhou.中国中铁新增【旧改】概念，参与上海、广州等超大特大城市城中村改造项目。
2024-04-10China Railway disclosed on the interactive platform that it signed a strategic cooperation framework agreement with the main entity for urban village redevelopment in Guangzhou on September 1, 2023.中国中铁在互动平台披露，2023年9月1日与广州市城中村改造做地主体签署了战略合作框架协议。
2024-06-26China Railway stated in an investor interaction that it is actively participating in government housing stock buyback programs to reduce inventory, under the premise of preserving and increasing state-owned asset value.中国中铁在互动平台表示，在确保国有资产保值增值的前提下，积极参与政府收储工作，促进库存去化。
Project update & risk disclosure项目更新与风险披露
7 · 2024-02-26 → 2026-01-27
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Disclosure of project pipeline, debt-restructuring province exposure, and construction scale.披露项目储备、债务重组省份敞口和建设规模。
2024-02-26China Railway management disclosed that its projects under construction total over 5 trillion yuan; projects in 12 debt-restructuring provinces are less than 100 billion yuan, with suspended/reduced projects about 10 billion yuan, having limited impact.中国中铁管理层透露，在建项目超5万亿元，涉及12个化债省份项目不到1000亿元，缩减暂停项目约100亿元，影响较小。
2025-05-06China Railway stated it has no ongoing projects in the United States.中国中铁表示在美国暂无在建项目。
2025-07-04China Railway stated on the investor interaction platform that it participates in oil and gas-related projects in China and the Middle East, but mainly undertakes related infrastructure construction, not direct oil and gas extraction.中国中铁在投资者互动平台表示，在国内及中东均有参与涉及油气相关的项目，但主要承担相关基础设施建设等工程，并非直接开展油气开采业务。
2025-12-22China Railway confirmed on its interactive platform that it has ongoing projects in Fujian Strait including the Xiamen-Kinmen Bridge and Dongshan Cross-Sea Bridge.中国中铁在互动平台确认在福建海峡在建项目有厦金大桥、东山跨海大桥等。
2026-01-27China Railway stated on its interactive platform that it has built the No.2 launch pad of Hainan Commercial Space Launch Site and other major infrastructure projects in Hainan, including the island-ring tourist highway, airport express, and international cruise terminal.中国中铁在互动平台表示，承建了海南商业航天发射场2号发射工位以及环岛旅游公路、机场快速通道、国际邮轮港等海南省重大基础设施项目。
2026-01-27China Railway stated it holds qualifications for water conservancy, municipal, and environmental engineering, enabling it to undertake high-standard farmland, urban underground pipeline, and Three-North Shelterbelt projects.中国中铁表示，具备水利水电、市政公用及环保工程等资质，可承揽高标准农田、城市地下管网及三北防护林体系建设工程。
2026-01-27China Railway stated it has participated in multiple nuclear power supporting infrastructure projects as a main force in national infrastructure construction.中国中铁表示，作为基础设施建设主力军，参与了多个核电配套项目建设。
Joint ventures & new subsidiaries (domestic)国内合资公司及新子公司
52 · 2024-03-01 → 2026-06-24
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Establishment of new subsidiaries and joint ventures for construction, real estate, and investment.为建筑、房地产和投资设立新的子公司和合资企业。
2024-03-01China Railway established a joint venture, China Railway Tunnel Bureau (Xiamen) Smart Parking Investment Development Co., Ltd., with registered capital of 203 million yuan, for parking services and charging stations.中国中铁成立合资公司中铁隧道局(厦门)智慧停车投资发展有限公司，注册资本2.03亿元，从事停车场服务和充电站等业务。
2024-04-29China Railway's subsidiary China Railway Urban Development Investment Group jointly established Lanzhou Zhongtong Expressway Co., Ltd. with Gansu Road and Bridge Construction Group, with registered capital of 500 million yuan.中国中铁旗下中铁城市发展投资集团与甘肃路桥建设集团共同成立兰州中通道高速公路有限公司，注册资本5亿元。
2024-08-05China Railway established Zhongtie Bridge Bureau (Dongguan) Engineering Co., Ltd., a wholly-owned subsidiary, with registered capital of 20 million yuan, engaging in construction, engineering management, and municipal facility management.中国中铁成立全资子公司中铁大桥局（东莞）工程有限公司，注册资本2000万元，业务涵盖建设工程施工、工程管理服务及市政设施管理。
2024-08-09China Railway established Gulang Qingshui Water Co., Ltd., a wholly-owned subsidiary, with registered capital of 100,000 yuan, engaged in sewage treatment and water-related consulting services.中国中铁成立全资子公司古浪清源水务有限公司，注册资本10万元，从事污水处理及其再生利用及水利相关咨询服务。
2024-08-15China Railway established Zhongtie No.3 Bureau Hangzhou Engineering Co., Ltd., a wholly-owned subsidiary, with registered capital of 20 million yuan, focusing on construction and highway maintenance.中国中铁成立全资子公司中铁三局杭州工程有限公司，注册资本2000万元，主营建设工程施工及公路管理与养护。
2024-08-21China Railway established Zhongtie No.4 Bureau (Guangdong) Industrialized Construction Co., Ltd., a wholly-owned subsidiary, with registered capital of 50 million yuan, focusing on construction design and cement product sales.中国中铁成立全资子公司中铁四局（广东）工业化建筑有限公司，注册资本5000万元，主营建设工程设计及水泥制品销售。
2024-08-23China Railway established Zhongtie Northern Mining (Dalian) Co., Ltd., a wholly-owned subsidiary, with registered capital of 300 million yuan, engaged in mineral resource exploration, coal mining, and rare earth material sales.中国中铁成立全资子公司中铁北方矿业（大连）有限公司，注册资本3亿元，从事矿产资源勘查、煤炭开采及稀土功能材料销售。
2024-08-26China Railway established Suzhou Chengdong Development and Construction Co., Ltd., with registered capital of 100 million yuan, co-held by China Railway Trust and other parties, focusing on investment and urban greening.中国中铁旗下中铁信托等共同持股成立宿州城东开发建设有限公司，注册资本1亿元，主营投资活动及城市绿化管理。
2024-08-30China Railway established Zhongtie No.9 Bureau Group (Shenzhen) Engineering Co., Ltd., a wholly-owned subsidiary, with registered capital of 100 million yuan, focusing on landscaping, land remediation, and construction machinery leasing.中国中铁成立全资子公司中铁九局集团（深圳）工程有限公司，注册资本1亿元，主营园林绿化工程施工、土地整治服务及建筑工程机械与设备租赁。
2024-09-01China Railway established a subsidiary, China Railway Ninth Bureau Group (Shenzhen) Engineering Co., Ltd., with registered capital of 100 million yuan, covering landscaping construction.中国中铁成立子公司中铁九局集团（深圳）工程有限公司，注册资本1亿元，经营范围包括园林绿化工程施工。
2024-09-09China Railway established Guang'an Tiegong Urban Construction Development Co., Ltd. with registered capital of 50 million yuan, covering water environment pollution prevention services and asset management.中国中铁成立广安铁工城市建设发展有限公司，注册资本5000万元，经营范围包括水环境污染防治服务和资产管理服务。
2024-09-10China Railway established Huangshan China Railway Rail Tourism Development Co., Ltd. with registered capital of 200 million yuan, covering tourism, real estate development, and AI system integration services.中国中铁成立黄山中铁轨道旅游开发有限公司，注册资本2亿元，经营范围包括旅游业务、房地产开发经营和人工智能行业应用系统集成服务。
2024-09-12China Railway established Meizhou China Railway General Contracting Engineering Co., Ltd. with registered capital of 20 million yuan, covering water pollution control and metal material sales.中国中铁成立中铁总承包（梅州）工程有限公司，注册资本2000万元，经营范围包括水污染治理和金属材料销售。
2024-09-19China Railway established Xiong'an Tiegong North China Investment Development Co., Ltd. with registered capital of 40 million yuan, covering construction, real estate development, and property management.中国中铁成立中铁铁工华北（雄安）投资发展有限公司，注册资本4000万元，经营范围包括建设工程施工、房地产开发经营和物业管理。
2024-10-09China Railway set up a new subsidiary, China Railway Fourth Bureau Group Yantai Engineering Co., Ltd., with registered capital of 20 million yuan, covering construction quality inspection, survey, and real estate development.中国中铁新设子公司中铁四局集团烟台工程有限公司，注册资本2000万元，业务含建设工程质量检测、勘察及房地产开发经营。
2024-10-25China Railway set up a new subsidiary, China Railway Tunnel Bureau Group (Suzhou) Engineering Co., Ltd., with registered capital of 100 million yuan, covering cement product manufacturing, equipment repair, and machinery R&D.中国中铁新设子公司中铁隧道局集团（苏州）工程有限公司，注册资本1亿元，业务含水泥制品制造、专用设备修理及机械设备研发。
2024-10-29China Railway set up a new subsidiary, China Railway Capital Holdings (Beijing) Co., Ltd., with registered capital of 4.313 billion yuan, fully owned by China Railway, covering enterprise management, asset management, and investment services.中国中铁全资设立中铁资本控股（北京）有限公司，注册资本43.13亿元，业务含企业总部管理、资产管理服务及投资活动。
2024-11-06China Railway indirectly wholly-owned subsidiary Yangjiang Xinneng Technology Co., Ltd. was established with registered capital of 20M yuan, engaging in solar power technology and photovoltaic equipment leasing.中国中铁间接全资子公司阳江新能科技有限公司成立，注册资本2000万元，业务涵盖太阳能发电技术服务及光伏发电设备租赁。
2024-11-07China Railway indirectly wholly-owned subsidiary China Railway (Gansu) Investment Construction Co., Ltd. was established with registered capital of 20M yuan, covering investment, cost consulting, and land remediation.中国中铁间接全资子公司中铁（甘肃）投资建设有限公司成立，注册资本2000万元，业务包括投资、造价咨询及土地整治。
2024-11-11China Railway and Huadian Jintai established Sichuan Chengyijin Expressway Partnership (limited partnership) with capital of about 18.23B yuan, for highway management and maintenance.中国中铁与华电金泰共同出资成立四川城宜金高速公路合伙企业（有限合伙），出资额约182.3亿元，从事公路管理与养护。
2024-11-12China Railway's subsidiary China Railway Fourth Group and Chizhou Jinqiao Investment Group jointly established Chizhou Tiehang Construction Investment Development Co., Ltd. with registered capital of 200M yuan.中国中铁旗下中铁四局集团与池州金桥投资集团共同成立池州铁航建设投资发展有限公司，注册资本2亿元。
2024-11-12China Railway's subsidiary China Railway Tenth Group co-founded Huaneng (Yongxin) Pumped Storage Co., Ltd. with Huaneng International and others, registered capital of about 1.582B yuan, for hydropower and energy storage.中国中铁全资子公司中铁十局集团与华能国际等共同成立华能（永新）抽水蓄能有限责任公司，注册资本约15.82亿元，从事水力发电及储能技术服务。
2024-12-04China Railway and its subsidiaries set up Huicheng No.1 (Tianjin) Equity Investment Center (LP) with registered capital of 1.201 billion yuan, for investment and private equity activities.中国中铁及其子公司共同设立徽诚壹号（天津）股权投资中心（有限合伙），出资额12.01亿元，从事投资及私募股权投资等活动。
2024-12-17China Railway (via subsidiary China Railway No.8 Engineering Group) jointly established Guizhou Huitian Zhehong Expressway Co., Ltd. with registered capital of 100 million yuan, covering expressway operation, EV charging, etc.中国中铁（通过全资子公司中铁八局）等共同设立贵州会天蔗红高速公路有限责任公司，注册资本1亿元，经营范围包括高速公路运营、充电桩销售等。
2024-12-23China Railway (via subsidiary China Railway Tunnel Group) jointly established Anhui Construction Engineering Group (Chaohu) Expressway Co., Ltd. with registered capital of 100 million yuan, covering metal materials, building materials, and new energy technology.中国中铁（通过全资子公司中铁隧道局）等共同设立安徽建工集团（巢湖）高速公路有限公司，注册资本1亿元，经营范围包括金属材料、建筑材料销售及新兴能源技术研发等。
2025-03-20China Railway (601390.SH) co-founded Chongqing Yanjiang South Expressway Development Co., Ltd. with registered capital of 500 million yuan, covering EV charging infrastructure operations.中国中铁等共同持股成立重庆沿江南线高速公路发展有限公司，注册资本5亿元，经营范围含电动汽车充电基础设施运营。
2025-03-20China Railway (601390.SH) indirectly wholly-owned subsidiary China Railway No.3 Bureau (Shenyang) Urban Construction Co., Ltd. was established in Shenyang with registered capital of 20 million yuan.中国中铁间接全资持股的中铁三局（沈阳）城市建设有限公司在沈阳成立，注册资本2000万元。
2025-03-21China Railway's subsidiary China Tiegong Investment Construction Group co-founded Nanjing Tie Gong Shangmao Investment Development Co., Ltd. with Nanjing Jiangning Business & Trade Development Group, registered capital 200 million yuan, China Tiegong holding 65%.中国中铁旗下中国铁工投资建设集团与南京江宁商务商贸发展集团共同成立南京铁工商贸投资发展有限公司，注册资本2亿元，中国铁工持股65%。
2025-03-25China Railway (601390.SH) indirectly wholly-owned subsidiary China Railway Construction Engineering Group (Shenzhen) Engineering Construction Co., Ltd. was established with registered capital of 20 million yuan, covering electrical installation services.中国中铁间接全资持股的中铁建工集团（深圳）工程建设有限公司成立，注册资本2000万元，经营范围含电气安装服务。
2025-04-23China Railway indirectly wholly-owned subsidiary established Zhongtie Beijing Engineering Bureau Group Guangdong Yue Engineering Co., Ltd., registered capital 50 million yuan, covering power installation and intelligent construction.中国中铁间接全资子公司成立中铁北京工程局集团广东铁越工程有限公司，注册资本5000万元，含电力安装和建筑智能化工程施工。
2025-06-09China Railway established China Railway Bridge Bureau Group Zhoushan Engineering Co., Ltd. with registered capital of 2 million yuan, covering construction and electrical installation services.中国中铁在舟山成立中铁大桥局集团舟山工程有限公司，注册资本200万元，经营范围含电气安装服务。
2025-06-18China Railway (via subsidiary China Railway Tunnel Bureau) jointly established Chongqing Fuling West Ring Expressway Development Co., Ltd. with Anhui Construction Engineering, registered capital 50 million yuan.中国中铁（通过子公司中铁隧道局）与安徽建工等共同成立重庆涪陵绕城西环高速公路发展有限公司，注册资本5000万元。
2025-06-24China Railway established China Railway Sanju Group (Qinhuangdao) Ecological Environment Co., Ltd. with registered capital of 20 million yuan, covering ecological restoration and wastewater treatment.中国中铁成立中铁三局集团（秦皇岛）生态环境有限公司，注册资本2000万元，经营范围含生态恢复及污水处理。
2025-06-27China Railway (via China Railway Water Investment) established Tie Gong (Yutian) Water Resources Development and Operation Co., Ltd. with registered capital of 164 million yuan.中国中铁（通过中国铁工投资）成立铁工（玉田）水资源开发运营有限公司，注册资本1.64亿元。
2025-07-10Haiyida (Hainan) Economic and Trade Co., Ltd. was established, with legal representative Wang Xiyou, registered capital of 10 million yuan, and business scope including import and export of goods and food.海谊达（海南）经贸有限责任公司成立，法定代表人为王希友，注册资本1000万元，经营范围包含货物进出口、食品进出口。
2025-07-17Inner Mongolia Stereo Transportation Construction Development Co., Ltd. was established, with a registered capital of 40 million yuan, jointly held by Inner Mongolia Transportation Investment (Group) Co., Ltd. and China Railway's subsidiary China Railway No.3 Engineering Bureau Group Co., Ltd.内蒙古立体交通建设发展有限公司成立，注册资本4000万元，由内蒙古交通投资（集团）有限责任公司和中国中铁旗下中铁三局集团有限公司共同持股。
2025-07-18China Railway Electrification Engineering Bureau Group Shenyang Engineering Co., Ltd. was established, with a registered capital of 20 million yuan, indirectly wholly owned by China Railway, covering construction, electrical installation, and inspection services.中铁电气化局集团沈阳工程有限公司成立，注册资本2000万元，由中国中铁间接全资持股，经营范围包括建设工程施工、电气安装服务、检验检测服务等。
2025-07-29Suzhou Wujiang Tiegong City Investment Development Co., Ltd. was established, with a registered capital of 60 million yuan, jointly held by China Railway's subsidiary China Tiegong Investment and Construction Group Co., Ltd. and Suzhou Wujiang Economic and Technological Development Zone Development Group Co., Ltd.苏州吴江铁工城市投资发展有限公司成立，注册资本6000万元，由中国中铁旗下中国铁工投资建设集团有限公司、苏州市吴江经济技术开发区发展集团有限公司共同持股。
2025-08-07China Railway established a new subsidiary, China Railway No.8 Engineering Group Jiangsu Engineering Co., Ltd., with a registered capital of 20 million yuan, covering construction machinery and equipment leasing.中国中铁成立新公司中铁八局集团江苏工程有限公司，注册资本2000万元，含建筑工程机械与设备租赁业务。
2025-08-07China Railway established a joint venture, China Railway Communications Port & Shipping Development (Cangzhou) Co., Ltd., with a registered capital of 40 million yuan, for port and highway construction.中国中铁成立合资公司中铁交发港航发展（沧州）有限公司，注册资本4000万元，涉及港口和公路建设。
2025-08-12China Railway, via its subsidiary China Railway No.9 Engineering Group, co-founded Liaoning Snow Industry Development and Construction Co., Ltd. in Liaoning, with a registered capital of 80 million yuan, focusing on outdoor recreation and cultural venue services.中国中铁通过子公司中铁九局等在辽宁成立辽宁雪上产业开发建设有限公司，注册资本8000万元，主营户外游乐和文化场馆服务。
2025-08-13China Railway established a wholly-owned subsidiary, China Railway Wuhan Electrification Bureau Group Sichuan Engineering Construction Co., Ltd., with a registered capital of 50 million yuan, covering power generation, transmission, and railway auxiliary activities.中国中铁成立全资子公司中铁武汉电气化局集团四川工程建设有限公司，注册资本5000万元，含发电、输电及铁路辅助业务。
2025-08-29China Railway and its subsidiary China Railway Capital Co., Ltd. co-founded Henan Rusong Expressway Co., Ltd. with a registered capital of 200 million yuan, together with Sheyan Yuan (300732), for expressway construction and solar power services.中国中铁及全资子公司中铁资本等共同成立河南汝嵩高速公路有限公司，注册资本2亿元，含高速公路建设和太阳能发电服务。
2025-09-02China Railway's subsidiary China Railway Fourth Bureau jointly established Yantai Kangrun Water Co., Ltd. with Yikang Technology, registered capital 316 million yuan, for wastewater treatment and water pollution control.中国中铁全资子公司中铁四局与毅康科技等共同成立烟台康润水务有限公司，注册资本3.16亿元，从事污水处理及水污染治理。
2025-09-03China Railway's subsidiary China Railway Third Bureau jointly established Anhui Chitie Development Investment Co., Ltd. in Chizhou, Anhui, with registered capital 100 million yuan, for investment and asset management.中国中铁全资子公司中铁三局等在安徽池州共同成立安徽池铁开发投资有限公司，注册资本1亿元，从事投资和资产管理。
2025-09-03China Railway's subsidiary China Railway Capital jointly established Yucheng Yihao (Wenzhou) Equity Investment Center (Limited Partnership) with Beijing Zixintong Machinery Leasing, with contribution of 1.24 billion yuan, for private equity investment and venture capital.中国中铁全资子公司中铁资本与北京资信通机械租赁共同成立豫诚壹号（温州）股权投资中心（有限合伙），出资额12.4亿元，从事私募股权投资和创业投资。
2025-10-28China Railway's subsidiary China Railway No.5 Engineering Group co-founded Shanyang County Double Reserve Forest Farm Construction and Operation Co., Ltd., registered capital 20 million yuan, for forestry projects.中国中铁子公司中铁五局集团共同出资成立山阳县双储林场建设运营有限责任公司，注册资本2000万元，从事林业项目。
2025-12-18China Railway indirectly wholly-owned subsidiary China Railway Seventh Group (Xiong'an) Engineering Co., Ltd. was established in Xiong'an with registered capital of RMB 5 million, legal representative Li Dongmao, engaged in construction and related services.中国中铁间接全资子公司中铁七局集团（雄安）工程有限公司在雄安成立，注册资本500万元，法定代表人李东茂，从事建设工程施工等业务。
2025-12-25China Railway indirectly wholly-owned subsidiary Hainan Keruige International Trade Co., Ltd. was established in Hainan with registered capital of RMB 30 million, legal representative Zhu Xiaomin, engaged in metal materials, machinery, electronics, building materials sales and international freight forwarding.中国中铁间接全资子公司海南柯瑞格国际贸易有限公司在海南成立，注册资本3000万元，法定代表人朱晓旻，从事金属材料、机械设备、电子产品、建筑材料销售及国际货物运输代理。
2026-01-30Changfeng Fengrui Technology Development Co., Ltd. was established with registered capital of 50 million yuan, jointly owned by Shunyu Co., Ltd. and China Railway's wholly-owned subsidiary China Railway Shanghai Engineering Bureau Group, with business scope including AI application software development.长丰丰瑞科技发展有限责任公司成立，注册资本5000万元，由舜禹股份和中国中铁全资子公司中铁上海工程局集团有限公司等共同持股，经营范围包含人工智能应用软件开发。
2026-05-29Sichuan Zhicheng Low-Altitude Economy Development Co., Ltd. was established with a registered capital of 23.29 million yuan, jointly held by Sichuan Tianfu Low-Altitude Economy Industry Investment Development Co., Ltd. and China Railway's wholly-owned subsidiary China Railway Urban Development Investment Group Co., Ltd., covering general aviation services and civil airport operations.四川智城低空经济发展有限公司成立，注册资本2329万元，由四川天府低空经济产业投资发展有限公司与中国中铁全资子公司中铁城市发展投资集团有限公司共同持股，经营范围包括通用航空服务、民用机场运营等。
2026-06-24China Railway, through its subsidiaries China Tiegong Investment Construction Group and China Railway Water Group, jointly established Beijing Green City Technology Development Center (limited partnership) with a capital contribution of 3.201 billion yuan, focusing on emerging energy technology R&D.中国中铁旗下中国铁工投资建设集团、中铁水务集团与金泰产融共同出资32.01亿元成立北京绿城科技发展中心（有限合伙），经营范围包括新兴能源技术研发。
Government & strategic meetings政府及战略会议
30 · 2024-03-23 → 2026-06-24
▾
High-level meetings with provincial and municipal leaders to discuss cooperation.与省市领导举行高层会议讨论合作。
2024-03-23China Railway Vice President Liu Baolong met with Zhengzhou Mayor He Xiong to discuss deepening strategic cooperation in rail transit and urban construction.中国中铁副总裁刘宝龙会见郑州市市长何雄，就深化轨道交通和城市建设等领域战略合作进行交流。
2024-03-23China Railway Chairman Chen Yun and President Chen Wenjian met with Tianjin Party Secretary Chen Min'er and Mayor Zhang Gong to deepen cooperation in infrastructure, urban rail transit, and emerging industries.中国中铁董事长陈云和总裁陈文健与天津市委书记陈敏尔、市长张工会谈，深化基础设施、城市轨道交通和新兴产业合作。
2024-05-08Anhui Party Secretary meets China Railway Chairman Chen Yun; discusses deepening cooperation in highways, railways, ports, water conservancy, new infrastructure, and urban development.安徽省委书记与中国中铁董事长陈云会谈，商讨深化在公路铁路、港口码头、水利水电、新基建、城市综合片区开发等领域的合作。
2024-07-25Hainan Party Secretary Feng Fei met China Railway Chairman Chen Yun to discuss urban renewal, transport planning, infrastructure, SOE reform, and trade expansion under Hainan Free Trade Port policy.海南省委书记冯飞会见中国中铁董事长陈云，讨论利用海南自贸港政策推动城市更新、交通规划、基础设施、国企改革及拓展国际贸易。
2024-08-14China Railway signed a strategic cooperation agreement with Hegang City, Heilongjiang, to collaborate on infrastructure, railway investment, and urban development.中国中铁与黑龙江省鹤岗市签署战略合作协议，合作领域包括基础设施建设、铁路投资及城市发展。
2024-09-13China Railway signed a strategic cooperation agreement with Agricultural Bank of China to deepen cooperation in strategic emerging industries, digital finance, and major projects.中国中铁与中国农业银行签署战略合作协议，在战略性新兴产业、数字金融、重大项目等领域深化合作。
2024-09-20China Railway Chairman Chen Yun met with China Three Gorges Corporation Chairman Liu Weiping to discuss further cooperation in water conservancy, hydropower, clean energy, and ecological environmental protection.中国中铁董事长陈云与三峡集团董事长刘伟平座谈，就水利水电、清洁能源、生态环保等领域进一步合作进行交流。
2024-10-25China Railway chairman Chen Yun met with Guangdong Railway Construction Investment Group (Guangdong Tietou) chairman Wang Hongjun to discuss high-speed railway project cooperation, including existing projects like Guangfo East Ring, Yuedong Intercity, Guangzhan Railway, and Shanshan Railway.中国中铁董事长陈云与广东铁投集团董事长王红军会谈，就高速铁路项目合作进行交流，涉及广佛东环、粤东城际、广湛铁路、汕汕铁路等重点项目。
2024-10-31China Railway Eastern Regional Headquarters general manager Wu Jiaxing met with Hangzhou Iron & Steel Group (Hanggang) deputy general manager Wu Dongming to discuss cooperation in infrastructure, environmental protection, and digital technology.中国中铁东部区域总部总经理吴家兴与杭钢集团党委副书记吴东明会谈，就基础设施、节能环保及数字科技等领域合作进行交流。
2024-11-22China Railway's president Chen Wenjian met with Shanxi provincial governor Jin Xiangjun to discuss deepening cooperation in transportation, water conservancy, environmental protection, energy, and urban renewal.中国中铁总裁陈文健与山西省省长金湘军举行工作会谈，深化在交通、水利、环保、能源、城市更新等领域合作。
2024-12-18Bank of China Chairman Ge Haijiao met with China Railway Chairman Chen Yun; both sides agreed to deepen cooperation in transportation, energy, overseas projects, and integrated 'finance + construction' global collaboration.中国银行董事长葛海蛟与中国中铁董事长陈云会谈，双方同意在交通、能源、海外项目及“金融+建设”一体化全球协作等领域深化合作。
2024-12-27Hunan Provincial Government held a working meeting with China Railway; China Railway expressed willingness to continue investing in Hunan's transportation infrastructure, urban renewal, and cultural tourism industries.湖南省政府与中国中铁举行工作座谈，中国中铁表示将继续在湖南交通基础设施、城市更新、文旅康养等领域加强合作。
2024-12-27China South-to-North Water Diversion Group Chairman Wang Annan met with China Railway Chairman Chen Yun; both sides agreed to strengthen cooperation in follow-up water diversion projects, national water network construction, water-energy integration, and technological innovation.中国南水北调集团董事长汪安南与中国中铁董事长陈云座谈，双方同意在南水北调后续工程、国家水网建设、水能融合及科技创新等方面加强合作。
2025-05-16Liaoning Province and China Railway held a working meeting in Shenyang; China Railway pledged to increase investment in Liaoning, focusing on transport infrastructure, urban renewal, new urbanization, and rail transit.辽宁省与中国中铁在沈阳举行工作会谈，中国中铁表示将加大在辽投资建设力度，深化交通基础设施、城市更新、新型城镇化、轨道交通等领域合作。
2025-05-21China Railway's cooperation with Chongqing since the 14th Five-Year Plan exceeded RMB 300 billion by end-April 2025, covering 12 rail transit lines, 13 expressway projects (1,028 km), 8 port projects, and the Jiangbei Airport T3B terminal.“十四五”以来截至2025年4月底，中国中铁与重庆合作金额超3000亿元，累计参与重庆12条轨道交通线路、13条高速公路（1028公里）、8个港口码头及江北机场T3B航站楼等项目。
2025-06-13China Railway Chairman Chen Wenjian met with China Huaneng Group Chairman Wen Shugang; both sides agreed to deepen cooperation in infrastructure, new energy, and international projects.中国中铁董事长陈文健会见中国华能集团董事长温枢刚，双方同意在基础设施、新能源、国际化等领域深化合作。
2025-07-25Sichuan Provincial Governor Shi Xiaolin met with China Railway Engineering Group Party Secretary and Chairman Chen Wenjian in Chengdu, discussing expanding business in Sichuan, participating in transportation, water conservancy, urban renewal, and high-end equipment manufacturing projects.四川省委副书记、省长施小琳在成都会见中国铁路工程集团党委书记、董事长陈文健，双方讨论加大在川业务布局，参与交通基础设施、重大水利工程、城市更新及高端装备制造等领域合作。
2025-08-14Chen Wenjian, Chairman of China Railway Engineering Group, met with Zhang Zhigang, Chairman of State Grid Corporation of China, to discuss deepening cooperation in rail transit, infrastructure, pumped storage, and emerging industries.中国中铁董事长陈文健与国家电网董事长张智刚会谈，双方就轨道交通、基础设施、抽水蓄能、战新产业等深化合作进行交流。
2025-08-28Yunnan Provincial Party Secretary and Governor met with China Railway Chairman Chen Wenjian in Kunming to discuss deepening cooperation in transportation infrastructure, water conservancy, port construction, and urban renewal.云南省委书记、省长在昆明与中国中铁董事长陈文健会谈，深化交通基础设施、水利、口岸建设、城市更新等领域合作。
2025-08-29Kunming municipal leaders met with China Railway Chairman Chen Wenjian to discuss further cooperation in infrastructure, ecological protection, urban renewal, and Mohan international port city construction.昆明市领导会见中国中铁董事长陈文健，就基础设施建设、生态环保、城市更新、磨憨国际口岸城市建设等深化合作。
2025-10-22China Railway signed investment agreement with Zhaoqing City Government for the Huizhou-Zhaoqing Expressway (Sanshui-Fengkai section), ~159 km, total investment 37.6 billion yuan, construction 2026-2029.中国中铁与肇庆市政府签署惠州至肇庆高速公路（三水至封开段）投资协议，长约159公里，总投资376亿元，计划2026年开工，2029年底建成。
2025-12-05China Railway chairman Chen Wenjian met with Xinjiang Party secretary Chen Xiaojiang and chairman Erkin Tuniyaz in Urumqi to discuss cooperation on major projects and infrastructure construction.中国中铁董事长陈文健在乌鲁木齐与新疆党委书记陈小江、主席艾尔肯·吐尼亚孜会面，讨论重大项目合作和基础设施建设。
2025-12-12China Railway chairman Chen Wenjian held talks with Yunnan Party secretary Wang Ning and governor Wang Yubo in Beijing to deepen central-local cooperation in comprehensive transportation, water conservancy, urban renewal, and other fields during the '15th Five-Year Plan' period.中国中铁董事长陈文健在北京与云南省委书记王宁、省长王予波会谈，深化在综合交通、水利设施、城市更新等领域的央地合作，谋划“十五五”重大项目。
2025-12-17China Railway chairman Chen Wenjian held a meeting with Guiyang Party secretary Hu Zhongxiong in Beijing to discuss deepening strategic cooperation.中国中铁董事长陈文健在北京与贵阳市委书记胡忠雄举行座谈，就深化战略合作进行交流。
2025-12-23China Railway chairman Chen Wenjian met with OCT Group chairman Wu Bingqi to discuss deepening cooperation in engineering construction and urban renewal.中国中铁董事长陈文健与华侨城集团董事长吴秉琪会面，讨论在工程建设、城市更新等领域深化合作。
2026-01-13China Railway Chairman Chen Wenjian and President Zhao Dianlong met with Transport Minister Liu Wei in Beijing to discuss national transportation strategy and major infrastructure projects.中国中铁董事长陈文健、总裁赵佃龙在京拜会交通运输部部长刘伟，双方围绕国家交通战略和重大基础设施项目建设进行交流。
2026-03-04Signed a strategic cooperation agreement with Tsinghua University to jointly build high-level research institutions, focusing on scientific research, talent training, and technology transfer.与清华大学签署战略合作协议，共建高水平科研机构，聚焦科研联合攻关、人才培养及成果转化。
2026-05-09Fujian Governor Zhao Long met with China Railway Chairman Chen Wenjian in Fuzhou to discuss deepening cooperation in transportation infrastructure, public facilities, and urban renewal under the '15th Five-Year Plan'.福建省省长赵龙在福州会见中国中铁董事长陈文健，双方围绕“十五五”战略部署，深化交通基础设施、公共设施、城市更新等领域合作交换意见。
2026-05-28Sichuan Provincial People's Government and China Railway signed a deepening strategic cooperation agreement in Chengdu, covering rail transit, highways, water conservancy, hydropower and environmental protection, urbanization, industrial manufacturing, and technology and culture.四川省人民政府与中国中铁在成都签署深化战略合作协议，合作领域涵盖轨道交通、高速公路、水利水电环保、城镇化建设、工业制造、科技文化等。
2026-06-24China Railway Chairman Chen Wenjian met with Minister of Water Resources Li Guoying; Li praised China Railway's water business achievements and encouraged deeper participation in national water network construction during the 15th Five-Year Plan period.中国中铁董事长陈文健与水利部部长李国英会谈；李国英祝贺中国中铁水利业务成绩，鼓励其深度参与'十五五'国家水网建设。
Overseas railway & infrastructure projects海外铁路及基建项目
15 · 2024-03-28 → 2026-05-21
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International project wins, construction progress, and completions across Africa, Europe, Asia, and South America.在非洲、欧洲、亚洲和南美洲的国际项目中标、建设进展和完工。
2024-03-28China Railway's Zambian Western Province Water Supply Project Phase 2 in Kaoma area achieved initial water supply, serving 200,000 residents; full water supply for 600,000 people expected by September 2024.中国中铁承建的赞比亚西方省供水项目二标段卡奥马区域实现通水，惠及20万居民；预计2024年9月前全线通水，惠及60万人。
2024-04-10China Railway's subsidiary China Railway Construction Engineering started construction of the Arusha Stadium in Tanzania, a 30,000-seat national-level modern stadium for the 2027 Africa Cup of Nations, on a 14.75-hectare site.中国中铁旗下中铁建工承建的坦桑尼亚阿鲁沙体育场项目开工，可容纳3万人，占地14.75公顷，将作为2027年非洲杯比赛场地。
2024-05-11China Railway No.1 Engineering Group completes and puts into operation the Andijan Conch cement production line in Uzbekistan, with a capacity of 6,500 t/d clinker.中铁一局承建的乌兹别克斯坦安集延海螺水泥生产线竣工达产，产能为6500吨/天熟料。
2024-07-10China Railway President Chen Wenjian met Chinese Ambassador to Sweden Cui Aimin; discussed Stockholm metro extension project progress and further cooperation.中国中铁总裁陈文健会见中国驻瑞典大使崔爱民，讨论斯德哥尔摩地铁延长线项目进展及进一步合作。
2024-11-21China Railway's Budapest-Belgrade Railway (Hungary section) project, undertaken by China Railway, entered final electrical and signaling stages; completion expected in 2025.中国中铁承建的匈塞铁路（匈牙利段）进入电气化、通信信号等最后专业工程实施阶段，预计2025年完成。
2024-12-26China Railway confirmed it completed the construction of the Qiankai Tunnel, a key supporting project of Peru's Chancay Port, a flagship Belt and Road project.中国中铁确认完成秘鲁钱凯港关键配套工程——钱凯隧道建设，该项目是“一带一路”标志性合作项目。
2025-01-24China Railway stated it is closely following the China-Kyrgyzstan-Uzbekistan railway project and bidding orderly. Planned 2025 projects include Morocco Kenitra-Marrakech high-speed rail, Saudi Nairyah power plant, Kazakhstan highway reconstruction, and Dubai DH2 villa project.中国中铁表示正在密切跟进中吉乌铁路项目并有序投标，2025年计划开工项目包括摩洛哥高铁、沙特电厂、哈萨克斯坦公路重建、迪拜别墅项目等。
2025-02-20China Railway No.10 Engineering Group's Mariana Salt Lake Plant in Argentina was officially put into operation, with an annual target of producing 20,000 tons of lithium chloride. This is China Railway's first infrastructure project in Argentina.中铁十局承建的阿根廷马里亚纳盐湖工厂正式投入使用，目标年产2万吨氯化锂，是中国中铁在阿根廷落地的首个基建项目。
2025-04-07China Railway disclosed winning the Tanzania/Burundi/DRC Standard Gauge Railway Phase 2 (Tanzania/Burundi section) EPC contract, single project amount 18.22445 billion yuan.中国中铁披露中标坦桑尼亚/布隆迪/刚果（金）标准轨距联合铁路项目第二阶段（坦桑尼亚/布隆迪段）设计施工总承包，单项目金额182.2445亿元。
2025-05-06China Railway confirmed it is implementing the Hungary-Serbia Railway (Hungary section) project in Europe, its first railway project in an EU country.中国中铁确认正在欧洲实施匈塞铁路（匈牙利段）建设，这是其在欧盟国家的首个铁路项目。
2025-05-06China Railway stated its subsidiaries are implementing a hydropower station project in Malaysia.中国中铁表示其下属单位正在马来西亚实施水电站项目工程建设。
2025-06-30China Railway's subsidiaries China Railway Erju, China Railway Tunnel Bureau, and China Railway Sanju won bids for the China-Kyrgyzstan-Uzbekistan railway project (Kyrgyzstan section) for sections ZJWZQ-4, -8, -9, total contract amount approx. 5.343 billion yuan.中国中铁下属中铁二局、中铁隧道局、中铁三局分别中标中吉乌铁路项目（吉尔吉斯共和国境内段）ZJWZQ-4、-8、-9标段，合计合同金额约53.43亿元。
2025-07-01China Railway's subsidiaries (China Railway No.2 Engineering Bureau, China Railway Tunnel Bureau, China Railway No.3 Engineering Bureau) won three bids for the China-Kyrgyzstan-Uzbekistan Railway project in Kyrgyzstan, with a total contract amount of approximately 5.343 billion yuan, including sections ZJWZQ-4 (1.654 billion yuan), ZJWZQ-8 (1.879 billion yuan), and ZJWZQ-9 (1.810 billion yuan), with a total construction period of 2190 calendar days. Cumulative contract amount including the earlier section bid in April reaches 6.859 billion yuan.中国中铁下属中铁二局、中铁隧道局、中铁三局中标中吉乌铁路项目吉尔吉斯共和国境内段三个标段，合同金额总计约53.43亿元人民币，包括ZJWZQ-4标段16.54亿元、ZJWZQ-8标段18.79亿元和ZJWZQ-9标段18.10亿元，总工期均为2190日历天。加上4月已中标先期开工段，累计合同金额达68.59亿元。
2025-12-22China Railway stated on its interactive platform that its subsidiary is participating in the Kazakhstan Kyzylorda region Eurasian Corridor highway upgrade project.中国中铁在互动平台表示，所属单位正在参与哈萨克斯坦克孜勒奥尔达州欧亚通道公路升级改造项目建设。
2026-05-21China Railway's subsidiary China Railway Major Bridge Engineering Group completed the trial operation of the Rupa Cross-Sea Bridge in Sarawak, Malaysia, a 4,844-meter-long landmark bridge under the Belt and Road Initiative, using full offshore non-trestle construction technology and self-developed marine equipment.中国中铁旗下中铁大桥局承建的马来西亚砂拉越州鲁巴跨海大桥通车试运营，全长约4844米，为“一带一路”重点项目，采用全水上无栈桥施工技术及自主研发的海上作业装备。
Strategy & guidance战略与指引
2 · 2024-03-28 → 2026-05-11
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Annual guidance, strategic updates, and investment plans.年度指引、战略更新及投资计划。
2024-03-28China Railway's 2024 guidance: planned revenue of approximately 1,300 billion yuan and new contracts of approximately 3,300 billion yuan.中国中铁2024年计划：营业总收入约13000亿元，新签合同额约33000亿元。
2026-05-11China Railway stated on the investor interactive platform that it will deepen the 'infrastructure + mineral resources' dual-drive strategy, promote technical transformation and capacity expansion of existing mines, increase high-quality mineral resource layout, and strengthen the 'China Railway Expressway' brand in the highway sector.中国中铁在互动平台表示，持续深化“基建+矿产资源”双轮驱动，推动现有矿山技改扩产，加大优质矿产资源布局，发展壮大“中铁高速”品牌。
Environmental approvals & green initiatives环保批复与绿色倡议
7 · 2024-04-03 → 2025-06-23
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Environmental impact assessment approvals for projects and green technology seminars.项目环境影响评价批复和绿色技术研讨会。
2024-04-03China Railway's indirectly invested project, the G5 Beijing-Kunming Expressway Hanzhong-Guangyuan section expansion (Sichuan section, re-submission), received environmental impact assessment approval with a total investment of 23.08 billion yuan.中国中铁间接参股的G5京昆高速公路汉中至广元段（四川境）扩容工程（重新报批）环评获批，总投资额230.8亿元。
2024-10-11China Railway's subsidiary Guangdong Nanxin Expressway Co., Ltd. obtained environmental impact assessment approval for the Nanhai-Xinhui Expressway project, with total investment of 13.611 billion yuan.中国中铁控股子公司广东南新高速公路有限公司南海至新会高速公路项目环评获批，总投资额136.11亿元。
2024-12-24China Railway's indirectly-invested Jiujiang Three Gorges Phase II Water Environment Comprehensive Treatment Project received environmental approval for the Lianghu Ecological Water Supply Plant project, with total investment of 70.0448 million yuan.中国中铁间接参股的九江市三峡二期水环境综合治理项目—两湖生态补水厂工程环评获批，项目总投资额7004.48万元。
2025-01-26China Railway's controlling subsidiary China Railway No.5 Engineering Group received environmental impact assessment approval for a crushed stone processing plant supporting the G5 Beijing-Kunming Expressway Hanguang Section Expansion Project (Wangcang Section) LJ2 bid section, with a total investment of 3 million yuan.中国中铁控股子公司中铁五局集团有限公司G5京昆高速汉广段扩容工程（旺苍段）LJ2标段配套碎石料加工厂环评审批获同意，项目总投资额300万元。
2025-03-28China Railway (601390.SH) held the 'Infrastructure Green Low-Carbon Development Technology Seminar' in Chengdu, with 11 academicians and over 100 experts; launched the China Railway Infrastructure Green Low-Carbon Research Center.中国中铁在成都举办“中国中铁基础设施绿色低碳发展技术研讨会”，11位院士及百余位专家参会；启动中国中铁基础设施绿色低碳研究中心。
2025-06-09China Railway's indirect subsidiary China Railway Wuju Group Luqiao Engineering Co., Ltd. obtained environmental approval for a crushed stone processing plant (investment 3.5 million yuan) for the G5 Jingkun Expressway expansion project.中国中铁间接控股子公司中铁五局集团路桥工程有限责任公司G5京昆高速汉广段扩容工程配套碎石料加工厂项目环评获原则同意，总投资350万元。
2025-06-23China Railway's subsidiary Guangdong Fo-Zhao-Yun Expressway Co., Ltd. obtained environmental approval for the Foshan Gaoyao to Yunfu Luoding section project, total investment 17.373 billion yuan.中国中铁控股子公司广东佛肇云高速公路有限公司佛肇云高速公路肇庆高要至云浮罗定段建设项目环评获原则同意，总投资173.73亿元。
Investor communications & market impact投资者沟通与市场影响
7 · 2024-04-03 → 2026-05-12
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Responses to investor queries, earnings briefings, and analyst actions.回应投资者询问、业绩说明会及分析师行动。
2024-04-03Citi downgraded China Railway's 2024-2025 earnings forecast by 4%-7%, citing 2023 net profit miss and net impairment losses doubling to 7.147 billion yuan; target price cut to HKD 7.花旗将中国中铁2024-2025年盈利预测下调4%-7%，指出2023年净利润不及预期且净减值损失翻倍至71.47亿元；目标价下调至7港元。
2024-04-17China Railway announced that a board meeting will be held on April 29, 2024 to approve the first quarter 2024 results.中国中铁宣布将于2024年4月29日举行董事会会议，批准2024年第一季度业绩。
2024-10-22China Railway announced that its 2024 third-quarter performance briefing will be held on October 31, 2024, via online interaction, attended by the chairman, president, chief accountant, and board secretary.中国中铁公告2024年第三季度业绩说明会定于2024年10月31日以网络互动形式举行，董事长、总裁、总会计师及董事会秘书将参加。
2025-04-08China Railway stated on investor platform that it has no US business exposure and US tariff hikes have no direct impact on the company.中国中铁在投资者平台表示，公司不涉及与美国业务往来，美国加征关税对公司没有直接影响。
2025-05-07China Railway stated it imports few raw materials and is minimally impacted by US-China reciprocal tariff increases.中国中铁表示公司进口原材料较少，受中美互增关税影响较小。
2026-03-23Announced that the 2025 annual report and cash dividend briefing will be held on March 31, 2026, via the Shanghai Stock Exchange Roadshow Center.公告将于2026年3月31日通过上证路演中心举行2025年度业绩暨现金分红说明会。
2026-05-12China Railway stated on the investor interactive platform that it has not initiated any evaluation work regarding delisting from the Hong Kong Stock Exchange.中国中铁在互动平台表示，未启动关于港股退市的相关评估工作。
Mineral resources & mining矿产资源与采矿
11 · 2024-04-10 → 2026-06-16
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Disclosure of mineral reserves, production output, and mining rights acquisitions.披露矿产储量、产量和采矿权收购。
2024-04-10China Railway disclosed its mineral resources: 5 modern mines (Luming molybdenum, Green Sar copper-cobalt, MKM copper-cobalt, SICOMINE copper-cobalt, Ulan lead-zinc) with copper reserves of 7.4011 million tons, cobalt 562,000 tons, molybdenum 621,600 tons.中国中铁披露矿产资源：5座现代化矿山（鹿鸣钼矿、绿纱铜钴矿、MKM铜钴矿、华刚SICOMINE铜钴矿、乌兰铅锌矿），铜保有储量740.11万吨，钴56.2万吨，钼62.16万吨。
2024-09-03China Railway disclosed that its subsidiary China Railway Resources Group recorded a net profit of 2.265 billion yuan for the six months ended June 30, 2024.中国中铁披露其子公司中铁资源集团有限公司截至2024年6月30日净利润为22.65亿元。
2024-11-04China Railway stated on the interactive platform that it currently has no lithium mineral resources in Africa.中国中铁在互动平台表示，目前公司在非洲没有锂矿资源。
2025-04-08China Railway stated that China's export controls on molybdenum and Trump's tariff on copper have positive impact, raising market prices and company revenue from its 5 overseas mines (copper, cobalt, molybdenum, lead, zinc).中国中铁表示，国家对钼出口管控和特朗普对铜关税政策有积极影响，有利于提升公司5座海外矿山（铜、钴、钼、铅、锌）产品市场价格和收益。
2025-05-06China Railway stated its wholly-owned subsidiary China Railway Resources holds the Urt Tsagaan Tolgoi and Zhanggai Tolgoi gold mines in Mongolia with mining permits, but they are not commercially viable due to small scale, thin ore bodies, and lack of infrastructure.中国中铁表示其全资子公司中铁资源在蒙古持有乌日勒敖包及章盖陶勒盖金矿并已取得开采许可证，但因储量规模小、矿体薄且基础设施不具备，暂不具有开发价值。
2025-06-06China Railway disclosed that its subsidiary China Railway Resources holds 100% of the Urt Obo and Zhanggai Tolgoi gold mines in Mongolia, but development is suspended due to small reserves and lack of infrastructure.中国中铁披露，旗下中铁资源在蒙古全资持有乌日勒敖包及张盖陶勒盖金矿，但因储量小、基础设施不具备而暂未开发。
2025-07-04China Railway disclosed that its 2024 molybdenum concentrate (containing molybdenum) output was 14,946 tons, ranking third domestically.中国中铁披露2024年钼精矿含钼产量为14946吨，年产量国内位居第三。
2026-01-27China Railway disclosed that in H1 2025, its mineral resources business produced 148,789 tons of cathode copper, 2,830 tons of cobalt, 7,103 tons of molybdenum, 5,069 tons of lead, 12,774 tons of zinc, and 19 tons of silver.中国中铁披露，2025年上半年矿产资源业务生产阴极铜148789吨、钴2830吨、钼7103吨、铅5069吨、锌12774吨、银19吨。
2026-05-11China Railway stated on the investor interactive platform that its wholly-owned subsidiary China Railway Resources, together with Zhongjin Group, won the exploration right for the Fuxingtun mining area; the company currently operates 5 modern mines at home and abroad and is advancing acquisition of high-quality mineral resources.中国中铁在互动平台表示，全资子公司中铁资源联合中金集团成立的项目公司成功竞得复兴屯探矿权；目前在境内外运营5座现代化矿山，同步推进优质矿产资源项目获取。
2026-05-12China Railway stated on the investor interactive platform that it has no mineral resource development projects in Zimbabwe and will continue to monitor potential opportunities in key regions including Zimbabwe.中国中铁在互动平台表示，在津巴布韦暂无矿产资源开发项目，将继续关注包括津巴布韦在内的重点区域潜在机会。
2026-06-16China Railway disclosed that its subsidiary China Railway Resources produced 14,200 tons of molybdenum metal at Luming Mining in 2025.中国中铁披露，全资子公司中铁资源旗下的鹿鸣矿业2025年生产钼金属1.42万吨。
Legal disputes & enforcement法律纠纷与执行
29 · 2024-04-17 → 2026-01-29
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Lawsuits, enforcement cases, and legal rulings involving the company and its subsidiaries.涉及公司及其子公司的诉讼、执行案件和法院裁决。
2024-04-17China Railway faced a new court lawsuit (Case No. (2024) Yue 01 Min Zhong 13011) in Guangzhou Intermediate People's Court regarding a construction equipment lease contract dispute, involving subsidiary China Railway Tunnel Group.中国中铁新增一起法院诉讼（案号(2024)粤01民终13011号），涉及建筑设备租赁合同纠纷，子公司中铁隧道局集团为被告之一。
2024-06-14China Railway's wholly-owned subsidiary China Railway Construction Engineering Group was added as a defendant in 4 enforcement cases with total execution标的 of 10.2691 million yuan by Beijing Fengtai District People's Court.中国中铁全资子公司中铁建工集团有限公司新增4条被执行人信息，执行标的合计1026.91万元，执行法院为北京市丰台区人民法院。
2024-06-14China Railway's wholly-owned subsidiary China Railway Sixth Group was added as a defendant in 1 enforcement case with execution标的 of 1.1716 million yuan by Fuzhou Mawei District People's Court.中国中铁全资子公司中铁六局集团有限公司新增1条被执行人信息，执行标的117.16万元，执行法院为福州市马尾区人民法院。
2024-06-14China Railway's wholly-owned subsidiary China Railway Electrification Engineering Group was added as a defendant in 1 enforcement case with execution标的 of 0.31 million yuan by Beijing Fengtai District People's Court.中国中铁全资子公司中铁电气化局集团有限公司新增1条被执行人信息，执行标的31万元，执行法院为北京市丰台区人民法院。
2024-06-20China Railway and its subsidiary China Railway Guangzhou Engineering Group were sued in two买卖合同 disputes by Qingyuan Hengsuda Hardware Building Materials Co., Ltd. at Guangzhou Nansha District People's Court (cases filed June 7).中国中铁及子公司中铁广州工程局集团有限公司被清远市恒速达五金建材有限公司以买卖合同纠纷起诉，两案由广州市南沙区人民法院立案（立案日期2024年6月7日）。
2024-06-25China Railway was added as a defendant in a new court preservation case (case no. (2024) Su 0583 Zhi Bao 4163) on June 24.中国中铁新增1件法院诉讼（案号：(2024)苏0583执保4163号），立案日期2024年6月24日。
2024-06-25China Railway was named as defendant in a construction project construction contract dispute civil first-instance ruling (case no. (2023) Min 0825 Min Chu 3043).中国中铁作为被告的《建设工程施工合同纠纷民事一审裁定书》公布，案号：(2023)闽0825民初3043号。
2024-07-31China Railway subsidiaries (Beijing Engineering Bureau, 9th Bureau, Electrification Bureau, 5th Bureau, Bridge Bureau, Construction Engineering Group) added multiple enforcement actions with total execution标的 ranging from RMB 78,000 to RMB 14.19 million in July 2024.中国中铁多家子公司（中铁北京局、中铁九局、中铁电气化局、中铁五局、中铁大桥局、中铁建工）在2024年7月新增多条被执行人信息，执行标的从7.82万元到1418.74万元不等。
2024-09-02A subsidiary of China Railway, China Railway Wuhan Electrification Bureau Group, was added as a defendant in an enforcement case with an execution标的 of 1.4876 million yuan by Zhuhai Jinwan District People's Court.中国中铁子公司中铁武汉电气化局集团有限公司新增一条被执行人信息，执行标的148.76万元，执行法院为珠海市金湾区人民法院。
2024-09-03China Railway faced a new lawsuit (case No. (2024) Su 0506 Min Chu 10883) in Suzhou Wuzhong District People's Court over a construction subcontract dispute, with Suzhou Huamei Dengzhuang Decoration Co., Ltd. as plaintiff.中国中铁在苏州市吴中区人民法院新增一起建设工程分包合同纠纷诉讼（案号(2024)苏0506民初10883号），原告为苏州市华丽美登装饰装璜有限公司。
2024-09-04China Railway faced a new enforcement case (case No. (2024) Su 0206 Zhi Bao 3861) in Wuxi Huishan District People's Court over a construction contract dispute, with Wuxi Xingyuan Information Technology Co., Ltd. as applicant.中国中铁在无锡市惠山区人民法院新增一起建设工程合同纠纷执行案件（案号(2024)苏0206执保3861号），申请保全人为无锡兴苑信息科技有限公司。
2024-09-18China中铁 faced a new lawsuit (case No. (2024) Liao 7103 Min Chu 23) in Dalian Railway Transport Court over a sales contract dispute, with Fuzhou Zhenghao Building Materials Co., Ltd. as plaintiff.中国中铁在大连铁路运输法院新增一起买卖合同纠纷诉讼（案号(2024)辽7103民初23号），原告为福州正昊建材有限公司。
2024-09-27China Railway faced a new lawsuit (case No. (2024) E 0106 Min Chu 15303) in Wuhan Wuchang District People's Court over a construction contract dispute, with Hubei Ningyuan Julong Construction Engineering Co., Ltd. as plaintiff.中国中铁在武汉市武昌区人民法院新增一起建设工程施工合同纠纷诉讼（案号(2024)鄂0106民初15303号），原告为湖北宁远聚隆建筑工程有限公司。
2024-11-07China Railway's subsidiary China Railway Seventh Group received a consumption restriction order (case no. (2024) Yu 0194 Zhi 18061) on November 4.中国中铁控股的中铁七局集团有限公司于11月4日新增1条限制消费令（案号：(2024)豫0194执18061号）。
2024-11-15China Railway as plaintiff voluntarily withdrew a construction contract dispute lawsuit against Nanchang a comprehensive construction development company (case no. (2024) Gan 01 Min Chu 72).中国中铁作为原告，就建设工程施工合同纠纷案（(2024)赣01民初72号）申请撤诉，获法院准许。
2024-11-16China Railway and its subsidiary China Railway Ninth Group were sued by Changsha Zoomlion Environmental Industry Co., Ltd. for a sales contract dispute (case no. (2024) Liao 0103 Min Chu 22503), filed on November 15.中国中铁及中铁九局集团被长沙中联重科环境产业有限公司以买卖合同纠纷起诉（案号：(2024)辽0103民初22503号），立案日期2024年11月15日。
2024-11-26China Railway was ruled by Beijing Haidian District Court to bear joint liability for debts of a railway construction company in a shareholder creditor dispute (case no. (2023) Jing 0108 Min Chu 34980).中国中铁在股东损害公司债权人利益责任纠纷案（(2023)京0108民初34980号）中被判对某铁路建设公司债务承担连带责任。
2024-11-29China Railway and its subsidiary China Railway Construction Engineering Group were sued by Wuxi Xingyuan Information Technology Co., Ltd. for property damage dispute (case no. (2024) Su 0206 Min Chu 9236), filed on November 27.中国中铁及中铁建工集团被无锡兴苑信息科技有限公司以财产损害赔偿纠纷起诉（案号：(2024)苏0206民初9236号），立案日期2024年11月27日。
2025-01-05China Railway was named as defendant in two new court lawsuits on January 3, 2025, both for sales contract disputes, filed by Zhongshan Development Yijian Building Materials and Guangzhou Fanlei Door Industry.中国中铁作为被告新增2件法院诉讼，均为买卖合同纠纷，原告分别为钟山开发区益建建材机电经营部和广州钒磊门业有限公司。
2025-01-14China Railway was named as defendant in a new court lawsuit on January 13, 2025, for a sales contract dispute filed by Sichuan Huaxinyi Signage Co.中国中铁作为被告新增1件法院诉讼，为买卖合同纠纷，原告为四川华新艺标识标牌有限公司。
2025-02-19China Railway was involved in two new court lawsuits: a contract dispute filed by Guizhou Shuangyanghui Trading Co., Ltd. against China Railway No.9 Group and China Railway (case no. (2025) Liao 0103 Min Chu 5544) in Shenhe District People's Court, Shenyang; and an installment sales contract dispute filed by Haizhou Environmental Protection Group Co., Ltd. against China Railway No.8 Group and China Railway (case no. (2025) Su 0282 Min Chu 3972) in Yixing People's Court.中国中铁新增2件法院诉讼：贵州双洋汇商贸有限公司诉中铁九局集团及中国中铁买卖合同纠纷（案号(2025)辽0103民初5544号），海洲环保集团有限公司诉中铁八局集团及中国中铁分期付款买卖合同纠纷（案号(2025)苏0282民初3972号）。
2025-03-06China Railway (601390.SH) was added as a defendant in a civil lawsuit (case no. (2025) E 0192 Min Tiao 3320) filed by Guangdong Mingyang Electric Co., Ltd. for a sales contract dispute at Wuhan Donghu New Technology Development Zone People's Court.中国中铁新增一起民事诉讼（案号(2025)鄂0192民调3320号），原告广东明阳电气股份有限公司以买卖合同纠纷为由起诉，由武汉东湖新技术开发区人民法院审理。
2025-03-07China Railway (601390.SH) was added as a defendant in a civil lawsuit (case no. (2025) Liao 0291 Min Chu 2575) filed by Xizi Elevator Technology Co., Ltd. for a contract dispute at Dalian Economic and Technological Development Zone People's Court.中国中铁新增一起民事诉讼（案号(2025)辽0291民初2575号），原告西子电梯科技有限公司以合同纠纷为由起诉，由大连经济技术开发区人民法院审理。
2025-05-08China Railway was added as a defendant in a lawsuit (case no. (2025) Liao 7101 Min Chu 83) filed by Sichuan Chuanneng Ronghe Supply Chain Management Co., Ltd. at Shenyang Railway Transport Court for a sales contract dispute, involving subsidiary China Railway Ninth Bureau Group.中国中铁新增一起诉讼，案号（2025）辽7101民初83号，原告四川省川能嵘禾供应链管理有限公司以买卖合同纠纷为由在沈阳铁路运输法院起诉中国中铁及旗下中铁九局集团有限公司等。
2025-07-12China Railway was involved as a defendant in a 'Sales Contract Dispute' civil second-instance ruling (Case No. (2024) Chuan 71 Min Zhong 658) by the Chengdu Railway Transport Intermediate Court, which allowed the appellant (Duyun City a certain Co., Ltd.) to withdraw the appeal.中国中铁作为被告的《买卖合同纠纷民事二审裁定书》公布，案号（2024）川71民终658号，成都铁路运输中级法院准许都匀市某有限公司撤回上诉。
2025-08-25China Railway was involved in a lawsuit as defendant in a买卖合同纠纷 (sales contract dispute) case (No. (2025) Chuan 0106 Min Chu 3274) at Chengdu Jinniu District People's Court; the plaintiff withdrew the lawsuit.中国中铁作为被告涉及一起买卖合同纠纷案（案号(2025)川0106民初3274号），原告撤诉。
2025-08-30China Railway was added as a defendant in a new lawsuit (No. (2025) Su 0116 Min Chu 8020) at Nanjing Liuhe District People's Court for a sales contract dispute, filed by Jiangsu Lanyan Residential Industry Co., Ltd.中国中铁新增一起买卖合同纠纷诉讼（案号(2025)苏0116民初8020号），原告为江苏蓝雁住宅工业有限公司。
2025-09-08China Railway was involved in a 'sales contract dispute' as defendant; the Chengdu Jinniu District People's Court permitted the plaintiff (Chongqing a new building materials company) to withdraw the lawsuit, case number (2025) Chuan 0106 Min Chu 1975 Hao Zhi Yi.中国中铁作为被告的买卖合同纠纷案，成都市金牛区人民法院准许原告重庆某新型建材有限公司撤诉，案号（2025）川0106民初1975号之一。
2026-01-29China Railway announced it was named as a defendant in a contract dispute lawsuit (case No. (2025) Yue 5281 Min Chu 6330) filed by Puning Hongyang Baihui Flower Nursery, with a court hearing scheduled for Mar 17, 2026 at Puning People's Court.中国中铁公告，作为被告/被上诉人涉及一起合同纠纷案（案号(2025)粤5281民初6330号），原告为普宁市洪阳佰汇花木场，开庭日期为2026年3月17日。
Second curve & emerging business第二曲线与新兴业务
3 · 2024-04-24 → 2025-06-06
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Growth in new energy, low-altitude economy, and other emerging sectors.新能源、低空经济等新兴领域的增长。
2024-04-24China Railway's Yuanzhu project, its first foray into construction sand and gravel aggregate, was discussed by General Manager Chen Yongbo, emphasizing green energy-saving and cost control to enter the sector.中国中铁元珠项目作为其首个建筑用砂石骨料项目，总经理陈勇波强调以绿色节能、降本增效为主旨，力争进军该领域。
2025-04-08China Railway stated that its 'second curve' business (emerging sectors) achieved new contracts of 425.7 billion yuan in 2024, up 11% YoY.中国中铁表示，“第二曲线”业务2024年完成新签合同额4257亿元，同比增长11%。
2025-06-06China Railway won the bid for the national first low-altitude economy landing project — Hefei Yuanboyuan eVTOL takeoff/landing area project, and participated in building the Wuhan Bridge low-altitude economy industrial park.中国中铁中标全国低空经济首发落地项目——合肥市园博园电动垂直起降飞行器起降区项目，并参与共建武汉市大桥低空经济产业园项目。
Industry recognition & awards行业认可与奖项
5 · 2024-04-26 → 2025-11-20
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Tunnelling awards, governance awards, and QC competition prizes.隧道奖项、治理奖项和QC竞赛奖项。
2024-04-26At WTC2024, China Railway's 6 tunnel projects (including Shamilada, Dayaoshan, Qinling, New Guanjiao, Shenzhen Metro Line 14, Qingdao Jiaozhou Bay Second Subsea Highway Tunnel) were selected as ITA 50 iconic tunnel projects.在世界隧道大会上，中国中铁承建的6项工程（沙木拉达隧道、大瑶山隧道、秦岭隧道、新关角隧道、深圳地铁14号线、青岛胶州湾第二海底公路隧道）入选ITA 50个标志性隧道项目。
2024-09-21China Railway's subsidiary China Railway Electrification Bureau won first prize at the 7th Central Enterprise QC成果发表赛 for developing an auxiliary device for adjusting contact wire positioning rings, saving over 115 maintenance windows.中国中铁子公司中铁电气化局在第七届中央企业QC小组成果发表赛中获一等奖，课题为《接触网定位环调整辅助器的研制》，累计节约‘天窗’数量115个以上。
2024-11-08China Railway won the 'Golden Letter Award' (Jin Xin Pi Jiang) at the 26th China Listed Companies Golden Bull Awards for excellence in information disclosure and investor relations.中国中铁在第二十六届上市公司金牛奖中荣获“金信披奖”，表彰其在信息披露和投资者关系管理方面的优异表现。
2024-12-06China Railway won two awards at the 2024 ITA Tunnelling Awards: Gold for 'Ultra-small radius hard rock TBM' (by China Railway Hi-Tech Industry/China Railway Equipment) and Bronze for Qingdao Metro Line 6 Phase 1 (by China Railway Shanghai Investment). The TBM achieves a breakthrough turning radius of 30m vs conventional 300m.中国中铁在2024年国际隧道与地下空间协会（ITA）大奖中斩获两项大奖：中铁装备研制的“极小半径硬岩TBM”获“年度装备与设备创新”金奖（转弯半径从300米突破至30米），中铁上投施工总承包的青岛地铁6号线一期工程获“超越工程”铜奖。
2025-11-20China Railway won two governance awards: 'Best Board of Directors Practice' from China Association for Public Companies for the third consecutive year, and Shanghai Stock Exchange A-level rating for the 17th year (12 consecutive years for information disclosure A-level).中国中铁连续三年获中国上市公司协会“上市公司董事会最佳实践”，连续17年获上交所A级评价（信息披露连续12年A级）。
Accidents & safety incidents事故与安全事件
2 · 2024-05-07 → 2025-08-24
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Construction accidents and safety-related disclosures.施工事故及安全相关披露。
2024-05-07China Railway denies involvement in the Meida Expressway collapse; confirms neither the company nor its subsidiaries participated in the construction of the affected section.中国中铁否认参与梅大高速塌陷事故路段建设；确认公司及所属成员企业未参与该事故路段的施工建设。
2025-08-24China Railway announced that on August 22, a cable snapped during construction of the Jianzha Yellow River Bridge on the Sichuan-Qinghai Railway by its subsidiary China Railway Major Bridge Engineering Group, resulting in 12 deaths and 4 missing; the contract value is about 436 million yuan, and the accident will not materially impact operations.中国中铁公告，8月22日全资子公司中铁大桥局施工的川青铁路尖扎黄河特大桥发生扣索崩断事故，造成12人遇难、4人失联；合同额约4.36亿元，事故不会对经营业绩产生重大影响。
Awards, qualifications & recognitions奖项、资质与认可
3 · 2024-05-09 → 2024-10-21
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Special grade qualifications, subsidiary rankings, and innovation alliances.特级资质、子公司排名及创新联盟。
2024-05-09China Railway No.5 Engineering Group obtains the national water conservancy and hydropower construction general contracting special grade qualification, becoming the first China Railway subsidiary with eight special grade qualifications.中铁五局获得国家水利水电工程施工总承包特级资质，成为中国中铁首家拥有八项特级资质的二级企业。
2024-08-12China Railway announced the 2023 top 20 third-level engineering companies list, recognizing 20 subsidiaries for their performance in revenue, profit, and cash flow.中国中铁公布2023年度三级工程公司20强名单，表彰20家子公司在营收、利润和现金流方面的表现。
2024-10-21China Railway launched the Ecological Environment Model Worker (Craftsman) Innovation Studio Alliance in Yinchuan, involving 14 second-level units and 32 innovation studios, focusing on water supply, water environment treatment, solid waste treatment, and green construction technologies.中国中铁在银川启动生态环境劳模（工匠人才）创新工作室联盟，涵盖14家二级单位、32家创新工作室，聚焦供排水、水环境治理、固废处理及绿色建造等领域。
Bond issuance & pricing债券发行与定价
24 · 2024-05-20 → 2026-05-29
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Issuance of corporate bonds, perpetual bonds, and sci-tech innovation bonds.发行公司债券、永续债券和科技创新债券。
2024-05-20China Railway issues up to 3 billion yuan in科技创新 corporate bonds (first tranche 2024), with 5-year and 10-year tranches, rated AAA.中国中铁发行不超过30亿元科技创新公司债券（2024年第一期），含5年期和10年期品种，评级AAA。
2024-05-23China Railway completes issuance of 2024 first tranche科技创新 corporate bonds: 1 billion yuan at 2.40% (5-year, 6.5x oversubscribed) and 2 billion yuan at 2.71% (10-year, 3.6x oversubscribed).中国中铁完成2024年第一期科技创新公司债券发行：品种一10亿元票面利率2.40%（5年期，认购倍数6.5倍），品种二20亿元票面利率2.71%（10年期，认购倍数3.6倍）。
2024-06-05China Railway issued up to 3 billion yuan in science and technology innovation corporate bonds (second tranche) for professional investors, with 5-year and 10-year tranches, rated AAA.中国中铁面向专业投资者发行不超过30亿元科技创新公司债券（第二期），含5年期和10年期品种，评级AAA。
2024-06-11China Railway completed the issuance of the second tranche of 2024 science and technology innovation corporate bonds: 2 billion yuan for 5-year at 2.33% (4.13x oversubscribed) and 1 billion yuan for 10-year at 2.60% (4.76x oversubscribed).中国中铁完成2024年科技创新公司债券（第二期）发行：品种一20亿元，5年期，票面利率2.33%，认购倍数4.13倍；品种二10亿元，10年期，票面利率2.60%，认购倍数4.76倍。
2024-07-09China Railway issued 2024 first tranche of sci-tech innovation perpetual corporate bonds: Tranche 1 (5+N yr) coupon 2.29%, Tranche 2 (10+N yr) coupon 2.54%, total up to RMB 2bn.中国中铁发行2024年第一期科技创新可续期公司债券：品种一（5+N年期）票面利率2.29%，品种二（10+N年期）票面利率2.54%，发行规模不超过20亿元。
2024-07-19China Railway announced plan to issue up to RMB 3bn second tranche of 2024 sci-tech innovation perpetual corporate bonds (24 Tie YK03) for debt repayment.中国中铁公告拟发行不超过30亿元2024年第二期科技创新可续期公司债券（24铁YK03），用于偿还债务。
2024-07-22China Railway set coupon rates for 2024 second tranche sci-tech innovation perpetual bonds: Tranche 1 (5+N yr) 2.26%, Tranche 2 (10+N yr) 2.47%, total up to RMB 3bn.中国中铁确定2024年第二期科技创新可续期公司债券票面利率：品种一（5+N年期）2.26%，品种二（10+N年期）2.47%，发行规模不超过30亿元。
2024-08-13China Railway extended the book-building time for its 2024 third tranche innovation sustainable corporate bonds (up to 60 billion yuan) due to volatile market conditions.中国中铁因市场波动剧烈，延长其2024年第三期科技创新可续期公司债券（面值不超过600亿元）的簿记建档时间。
2024-08-15China Railway issued the third tranche of 2024 innovation sustainable corporate bonds, with total size of 3 billion yuan: 1.5 billion yuan for 5+N-year at 2.23% (4.01x oversubscribed) and 1.5 billion yuan for 10+N-year at 2.43% (3.33x oversubscribed). Underwriters and affiliates subscribed 1.44 billion yuan.中国中铁发行2024年第三期科技创新可续期公司债券，总规模30亿元：品种一15亿元，5+N年期，票面利率2.23%，认购倍数4.01倍；品种二15亿元，10+N年期，票面利率2.43%，认购倍数3.33倍。承销机构及关联方认购14.40亿元。
2024-08-22China Railway extended the book-building time for its 2024 fourth tranche innovation sustainable corporate bonds (up to 60 billion yuan) due to volatile market conditions.中国中铁因市场波动剧烈，延长其2024年第四期科技创新可续期公司债券（面值不超过600亿元）的簿记建档时间。
2024-08-22China Railway priced its 2024 fourth tranche innovation sustainable corporate bonds (24 Tie YK08): variety one (5+N-year) at 2.26% and variety two (10+N-year) at 2.49%, with total issuance size up to 3 billion yuan.中国中铁确定2024年第四期科技创新可续期公司债券（24铁YK08）票面利率：品种一（5+N年期）2.26%，品种二（10+N年期）2.49%，发行规模不超过30亿元。
2024-08-26China Railway completed the issuance of its 2024 fourth tranche innovation sustainable corporate bonds (variety one), with final size of 1.5 billion yuan, coupon rate 2.26%, and subscription ratio of 2.56x.中国中铁完成2024年第四期科技创新可续期公司债券（品种一）发行，最终规模15亿元，票面利率2.26%，认购倍数2.56倍。
2024-09-12China Railway issued the third tranche of科技创新 corporate bonds to professional investors, with a scale of up to 3 billion yuan: 5-year tranche at 2.18% and 10-year tranche at 2.35%.中国中铁面向专业投资者公开发行科技创新公司债券（第三期），发行规模不超过30亿元：品种一5年期票面利率2.18%，品种二10年期票面利率2.35%。
2024-09-23China Railway announced the fourth tranche of科技创新 corporate bonds to professional investors, with a scale of up to 2 billion yuan, 5-year tranche.中国中铁公告面向专业投资者公开发行科技创新公司债券（第四期），发行规模不超过20亿元，品种一期限为5年期。
2024-09-25China Railway's fourth tranche of科技创新 corporate bonds (5-year) was priced at a coupon rate of 2.24%.中国中铁科技创新公司债券（第四期）品种一（5年期）票面利率确定为2.24%。
2025-03-06China Railway (601390.SH) announced a public issuance of up to 60 billion yuan in corporate bonds to professional investors, with the registration approved by the CSRC in June 2023 and valid until June 19, 2025.中国中铁公告面向专业投资者公开发行不超过600亿元公司债券，该注册于2023年6月获证监会批准，有效期至2025年6月19日。
2025-03-19China Railway (601390.SH) 50 billion yuan small public bond project on the Shanghai Stock Exchange was updated to 'Accepted' status; proceeds to replenish working capital and repay interest-bearing debt, including 28.62 billion yuan for bond principal repayment.中国中铁500亿元小公募债项目在上交所状态更新为“已受理”，募集资金拟用于补充流动资金和偿还有息负债，其中286.20亿元用于偿还到期公司债券本金。
2025-04-22China Railway issued the second tranche of科技创新可续期公司债券 to professional investors, with scale up to 2.5 billion yuan, AAA rating, 3-year/5-year base terms with extendable options.中国中铁面向专业投资者发行第二期科技创新可续期公司债券，规模不超过25亿元，AAA评级，基础期限3年/5年可续期。
2025-06-06China Railway issued the first tranche of 2025科技创新 corporate bonds (25 Tie Gong K1) with an actual issuance size of 3 billion yuan, final coupon rate 1.92%, and subscription multiple 3.5467.中国中铁完成2025年第一期科技创新公司债券（25铁工K1）发行，实际发行规模30亿元，最终票面利率1.92%，认购倍数3.5467。
2025-06-24China Railway's second tranche of 2025科技创新 corporate bonds (25 Tie Gong K2, code 243146) was approved for listing on the Shanghai Stock Exchange from 2025-06-25, eligible for pledged repo.中国中铁2025年第二期科技创新公司债券（25铁工K2，代码243146）获上交所同意自2025年6月25日起上市，可参与质押式回购。
2026-03-18Issued the first tranche of 2026 science and technology innovation corporate bonds (26 Tie Gong K1) for up to 3 billion yuan, 3-year term, with a final coupon rate of 1.66% and oversubscription ratio of 3.1133 times.发行2026年第一期科技创新公司债券（26铁工K1），规模不超过30亿元，期限3年，最终票面利率1.66%，认购倍数3.1133倍。
2026-04-20China Railway completed issuance of first tranche 2026 sci-tech innovation perpetual corporate bond '26 Tie YK01' (20 billion yuan, 1.99% coupon, 1.97x oversubscribed).中国中铁完成2026年第一期科技创新可续期公司债券“26铁YK01”发行（20亿元，票面利率1.99%，认购倍数1.97倍）。
2026-04-23China Railway completed issuance of second tranche 2026 sci-tech innovation corporate bond '26 Tie Gong K2' (3 billion yuan, 1.62% coupon, 3.0467x oversubscribed).中国中铁完成2026年第二期科技创新公司债券“26铁工K2”发行（30亿元，票面利率1.62%，认购倍数3.0467倍）。
2026-05-29China Railway issued a public offering of scientific and technological innovation perpetual corporate bonds (second tranche) for professional investors, with a scale of up to 2 billion yuan, face value 100 yuan, base term of 5 years, coupon rate inquiry range 1.50%-2.50%, proceeds to be fully used for repaying existing corporate bond principal.中国中铁面向专业投资者公开发行科技创新可续期公司债券（第二期），发行规模不超过20亿元，面值100元，基础期限5年，票面利率询价区间1.50%-2.50%，募集资金全部用于偿还公司债券本金。
Bond redemption & interest payment债券赎回与付息
26 · 2024-05-21 → 2026-04-17
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Redemption of bonds and payment of periodic interest on outstanding debt.赎回债券并支付未偿债务的定期利息。
2024-05-21China Railway decides not to exercise the renewal option on its 2 billion yuan perpetual corporate bond (2021 second tranche, variety 1), and will fully redeem it on June 18, 2024.中国中铁决定不行使2021年可续期公司债券（第二期品种一）的续期选择权，将于2024年6月18日全额兑付20亿元。
2024-05-27China Railway announces full redemption of 2.6 billion yuan perpetual bond '21 Tie Gong Y1' on June 3, 2024, with final coupon of 3.63%.中国中铁宣布于2024年6月3日全额兑付26亿元可续期公司债券“21铁工Y1”，票面利率3.63%。
2024-06-11China Railway announced interest payment for its perpetual corporate bond '21 Zhongtie Y4' (188270.SH), with a coupon rate of 4.05%, paying 40.50 yuan per 1,000 yuan face value on June 18, 2024.中国中铁公告‘21中铁Y4’（188270.SH）可续期公司债券付息，票面利率4.05%，每手（面值1000元）派发利息40.50元，付息日为2024年6月18日。
2024-07-05China Railway paid interest on perpetual bond 'Tie Gong YK02' (3.39% coupon) for period July 12, 2023 to July 11, 2024.中国中铁支付“铁工YK02”永续债利息（票面利率3.39%），计息期2023年7月12日至2024年7月11日。
2024-07-09China Railway redeemed and delisted 2019 corporate bond (Tranche 3, Series 2) '19 Tie Gong 06' (RMB 1.1bn, 5yr, 3.99% coupon) on July 16, 2024.中国中铁对2019年公司债券（第三期）（品种二）“19铁工06”（11亿元，5年期，票面利率3.99%）于2024年7月16日兑付并摘牌。
2024-07-16China Railway announced interest payment for 2023 second tranche sci-tech innovation perpetual bonds 'Tie Gong YK03' (RMB 1bn, 3+N yr).中国中铁公告2023年第二期科技创新可续期公司债券“铁工YK03”（10亿元，3+N年期）付息安排。
2024-07-24China Railway's 2023 dividend triggered mandatory interest payment events on perpetual bonds '22 Tie Gong Y5' and '22 Tie Gong Y6'.中国中铁2023年度利润分配触发了“22铁工Y5”和“22铁工Y6”永续债的强制付息事件。
2024-07-26China Railway announced interest payment for perpetual bonds 'Tie Gong YK11' (3.15% coupon) and 'Tie Gong YK12' (3.36% coupon) on September 26, 2024.中国中铁公告“铁工YK11”（票面利率3.15%）和“铁工YK12”（票面利率3.36%）永续债将于2024年9月26日付息。
2024-07-29China Railway's 2022 first tranche medium-term notes (RMB 3bn) will pay interest on August 3, 2024.中国中铁2022年度第一期中期票据（30亿元）将于2024年8月3日付息。
2024-08-05China Railway paid annual interest on its 2.5 billion yuan 'Tie Gong YK06' bond (2023 third tranche, variety two) at a coupon rate of 3.30%, with interest payment date on August 12, 2024.中国中铁对25亿元“铁工YK06”债券（2023年第三期品种二）进行年度付息，票面利率3.30%，付息日为2024年8月12日。
2024-08-05China Railway paid annual interest on its 2023 third tranche (variety one) of innovation sustainable corporate bonds, with a 3-year base term and interest payment on August 12, 2024.中国中铁对2023年第三期（品种一）科技创新可续期公司债券进行年度付息，基础期限3年，付息日为2024年8月12日。
2024-08-05China Railway's 2023 profit distribution triggered mandatory interest payment events on its perpetual bonds (Tie Gong YK07, YK08, YK15, YK16), as per the terms of the bond prospectus.中国中铁2023年利润分配触发其永续债（铁工YK07、YK08、YK15、YK16）的强制付息事件，依据债券募集说明书条款。
2024-08-12China Railway redeemed its 2021 fourth tranche medium-term notes (21 Zhongtiegu MTN004) with a total amount of 3.0927 billion yuan on the due date.中国中铁按期兑付2021年度第四期中期票据（21中铁股MTN004），总金额30.927亿元。
2024-08-15China Railway decided not to exercise the renewal option on its 2021 fourth tranche (variety two) perpetual corporate bonds, opting to fully redeem the 3-year bonds on November 25, 2024.中国中铁决定不行使2021年第四期（品种二）可续期公司债券的续期选择权，将于2024年11月25日全额兑付该3年期债券。
2024-10-18China Railway announced interest payment for its 2022 perpetual corporate bonds (second tranche): '22 Tie Gong Y3' (2.70% coupon) pays 27.00 yuan per 1000 yuan face value, '22 Tie Gong Y4' (3.09% coupon) pays 30.90 yuan per 1000 yuan face value, payable on October 25, 2024.中国中铁公告2022年可续期公司债券（第二期）付息：品种一“22铁工Y3”票面利率2.70%，每手派息27.00元；品种二“22铁工Y4”票面利率3.09%，每手派息30.90元，付息日为2024年10月25日。
2024-10-25China Railway announced it will exercise the redemption right on its 2019 fifth tranche medium-term notes (variety two) on November 25, 2024, with issuance amount of 600 million yuan, redemption price of 100 yuan per 100 yuan face value, total redemption of 600 million yuan plus interest of 26.46 million yuan.中国中铁公告将于2024年11月25日行使2019年度第五期中期票据（品种二）赎回权，发行金额6亿元，赎回价格100元/百元面值，赎回金额6亿元并支付利息2646万元。
2025-01-06China Railway announced the redemption and delisting of its 2022 corporate bond (Tranche 1, '22 Tie Gong 01') on January 13, 2025. The bond had a total issuance of 2 billion yuan, 3-year term, and a coupon rate of 2.93%.中国中铁宣布2022年公司债券（第一期）（品种一）“22铁工01”于2025年1月13日本息兑付及摘牌，发行总额20亿元，票面利率2.93%。
2025-01-06China Railway announced the interest payment for its 2022 corporate bond (Tranche 2) on January 13, 2025. The bond has a total issuance of 1 billion yuan, 5-year term, and a coupon rate of 3.28%.中国中铁发布2022年公司债券（第一期）（品种二）2025年付息公告，发行总额10亿元，票面利率3.28%。
2025-01-20China Railway announced interest payment for its 2016 corporate bond (Tranche 2, '16 Tie Gong 02') on February 5, 2025. The bond has a total issuance of 2.12 billion yuan, 10-year term, and a coupon rate of 3.80%.中国中铁发布2016年公司债券（第一期）（品种二）2025年付息公告，发行总额21.2亿元，票面利率3.80%。
2025-05-08China Railway's 2024 first tranche medium-term note (variety A, RMB 1.5 billion, 5-year, 2.45% coupon) will pay interest of RMB 36.75 million on May 17, 2025.中国中铁2024年度第一期中期票据（品种一，15亿元，5年期，票面利率2.45%）将于2025年5月17日付息，应付利息3675万元。
2025-05-16China Railway will pay interest on its RMB 2 billion 10-year corporate bond (24K2, 2.71% coupon) on May 23, 2025, with interest of RMB 27.10 per RMB 1,000 face value.中国中铁20亿元10年期科技创新公司债券（24K2，票面利率2.71%）将于2025年5月23日付息，每1000元面值付息27.10元。
2025-07-17China Railway announced the interest payment for its 2 billion yuan technology innovation perpetual corporate bond (ticker '24 Tie YK03', code 241326.SH) with a coupon rate of 2.26%, interest period from July 24, 2024 to July 23, 2025, payment date July 24, 2025.中国中铁公告20亿元科技创新可续期公司债券（24铁YK03）2025年付息，票面利率2.26%，计息期限2024年7月24日至2025年7月23日，付息日2025年7月24日。
2025-10-09China Railway's 15-year 3.5 billion yuan bond '10 Zhong Tie G4' matures on Oct 20, 2025, with final interest and principal payment at 4.50% coupon.中国中铁15年期35亿元债券“10中铁G4”于2025年10月20日到期，支付最后一次利息和本金，票面利率4.50%。
2026-01-19China Railway announced that its 2016 corporate bond (tranche 2, '16 Tie Gong 02') with a coupon rate of 3.80% will mature and be delisted on Jan 28, 2026, with principal and interest of 38 yuan per 1,000 yuan face value to be paid.中国中铁公告，2016年公司债券（品种二，“16铁工02”）票面利率3.80%，将于2026年1月28日本息兑付并摘牌，每手兑付本金1000元，派发利息38元。
2026-04-14China中铁 decided not to exercise the renewal option on its '23 Tie Gong YK03' sci-tech innovation perpetual corporate bond (10 billion yuan, 2.95% coupon), to be fully redeemed on July 24, 2026.中国中铁决定不行使“23铁工YK03”科技创新可续期公司债券（10亿元，票面利率2.95%）的续期选择权，将于2026年7月24日全额兑付。
2026-04-17China Railway decided not to exercise the renewal option on its 2021 perpetual corporate bond (tranche 2, 400 million yuan, 3.85% coupon), to be fully redeemed on June 3, 2026.中国中铁决定不行使2021年可续期公司债券（品种二，4亿元，票面利率3.85%）的续期选择权，将于2026年6月3日全额兑付。
Auditor & executive changes审计师及高管变更
19 · 2024-05-24 → 2026-04-16
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Appointment of new auditor, board secretary, vice presidents, and chairman succession.任命新审计师、董事会秘书、副总裁和董事长继任。
2024-05-24China Railway board approves appointment of Deloitte as 2024 financial and internal control auditor, replacing PwC, with audit fees of 23.4 million yuan.中国中铁董事会同意聘请德勤为2024年度财务报表和内部控制审计机构，替代普华永道，审计费用2340万元。
2024-07-04China Railway appointed Ma Yonghong as Board Secretary, effective July 4, 2024.中国中铁聘任马永红为董事会秘书，自2024年7月4日起生效。
2024-08-07China Railway dismissed Vice President Liu Baolong due to retirement and appointed Huang Chao as new Vice President, effective from the board meeting date until the completion of the fifth board term.中国中铁因退休原因解聘副总裁刘宝龙，聘任黄超为新副总裁，任期自董事会通过之日起至第五届董事会换届完成。
2024-08-20China Railway held its first interim board meeting of the sixth board, electing executive and non-executive directors, and appointing a joint company secretary.中国中铁召开第六届董事会第一次临时会议，选举执行董事和非执行董事，并聘任联席公司秘书。
2024-09-30China Railway's board approved the appointment of a new vice president at its sixth interim board meeting.中国中铁董事会第六届第三次临时会议审议通过了聘任公司副总裁的议案。
2025-02-28Jia Huiping resigned as shareholder representative supervisor and chairman of the supervisory board of China Railway due to age (retirement), effective upon delivery of resignation letter on February 28, 2025.贾惠平因年龄原因（退休）辞去中国中铁股东代表监事、监事会主席职务，辞职报告于2025年2月28日送达监事会时生效。
2025-03-13China Railway (601390.SH) announced that Chairman and legal representative Chen Yun resigned due to age (retirement), effective March 12, 2025.中国中铁公告，董事长、法定代表人陈云因年龄原因（退休）辞职，自2025年3月12日起生效。
2025-03-13China Railway (601390.SH) held its 6th Board 8th meeting, dismissing Chen Wenjian as President and electing him as Chairman and legal representative, effective immediately until the 6th Board term ends.中国中铁召开第六届董事会第八次会议，解聘陈文健的总裁职务，选举其为董事长及法定代表人，任期至第六届董事会届满。
2025-03-13China Railway (601390.SH) 6th Board 8th meeting approved adjustments to the composition of the Board Strategy & Investment Committee and Board Nomination Committee.中国中铁第六届董事会第八次会议审议通过了《关于调整董事会战略与投资委员会、董事会提名委员会组成人员的议案》。
2025-03-26China Railway (601390.SH) completed industrial and commercial registration changes: legal representative and chairman changed from Chen Yun to Chen Wenjian, along with multiple senior management changes.中国中铁完成工商变更，法定代表人、董事长由陈云变更为陈文健，同时多位高管发生变更。
2025-07-08China Railway Materials Trade Group Co., Ltd. held a cadre meeting, announcing Zhou Haihui as the deputy secretary of the party committee, director, and general manager candidate.中铁物贸集团有限公司召开干部大会，宣布周海辉担任党委副书记、董事，为总经理人选。
2025-07-17China Railway's 6th Board of Directors 13th meeting approved the resolution to set up the position of Chief Auditor and appoint Wang Xinhua as Chief Auditor, effective July 2025.中国中铁第六届董事会第十三次会议审议通过设置总审计师岗位并聘任王新华为总审计师的议案。
2025-12-26China Railway's subsidiary China Railway Yunnan Investment (China Railway Development, China Railway Chongqing Investment) held a cadre meeting, appointing Xiao Sheng as party committee member and candidate for chief accountant.中铁云投（中铁开投、中铁重投）召开干部大会，任命肖圣为党委委员、总会计师人选。
2026-01-09China Railway's board approved the appointment of Zhao Dianlong as President, effective from Jan 9, 2026 until the end of the sixth board term.中国中铁董事会批准聘任赵佃龙为总裁，自2026年1月9日起至第六届董事会任期届满。
2026-01-09China Railway's board nominated Zhao Dianlong as a candidate for executive director and proposed convening the first extraordinary general meeting of 2026.中国中铁董事会提名赵佃龙为执行董事候选人，并提议召开2026年第一次临时股东大会。
2026-03-02Executive Director Wang Shiqi resigned due to age (retirement), ceasing all positions at the company.执行董事王士奇因年龄原因（退休）辞职，不再担任公司任何职务。
2026-03-25Appointed Xu Guangnan as Party Committee member and Discipline Inspection Secretary of China Railway Yunnan Investment (China Railway Development & Investment, China Railway Heavy Investment).任命许光南为中铁云投（中铁开投、中铁重投）党委委员、纪委书记。
2026-03-31Vice President and Chief Engineer Kong Dun retired and was removed from his positions, effective March 30, 2026.副总裁、总工程师孔遁因退休被解聘职务，自2026年3月30日起生效。
2026-04-16CSRC approved the exemption of concurrent executive restrictions for Zhao Dianlong (赵佃龙), allowing him to serve as both General Manager of parent China Railway Engineering Group (中铁工) and President of China Railway.中国证监会同意豁免赵佃龙的高管兼职限制，允许其同时担任控股股东中铁工总经理和中国中铁总裁。
Xiong'an New Area relocation & innovation center雄安新区搬迁与创新中心
3 · 2024-05-30 → 2025-05-07
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Establishment of Xiong'an Science and Innovation Center and relocation of subsidiaries.设立雄安科技创新中心并搬迁子公司。
2024-05-30China Railway Xiong'an Science and Innovation Center breaks ground; three research institutes (TBM lab, bridge academician workstation, digital innovation center) settle in Xiong'an New Area.中铁雄安科创中心项目开工奠基；隧道掘进机及智能运维全国重点实验室（雄安研究基地）、中铁大桥局院士工作站雄安分站、中铁工业数字与创新研究中心落地雄安新区。
2024-05-30China Railway holds roundtable with four Beijing universities (Beijing Jiaotong, USTB, Beijing Forestry, China University of Geosciences) and releases 'New Quality Leading, Integrated Innovation' initiative in Xiong'an.中国中铁与首批疏解雄安的四所北京高校（北京交通大学、北京科技大学、北京林业大学、中国地质大学）举行圆桌对话，并联合发布《新质引领 融合创新》倡议书。
2025-05-07China Railway's industrial cluster relocation to Xiong'an New Area progressed: the China Railway Xiong'an Science and Innovation Center city showroom opened, and 30 residential buildings were topped out. A regional headquarters, 17 third-level subsidiaries, and 17 branch companies have been established in Xiong'an.中国中铁产业集群疏解雄安新区取得进展：中铁雄安科创中心项目城市展厅开放，30栋住宅楼全部封顶。已在雄安设立区域总部，同步有17家三级子公司和17家分公司疏解落地。
Smart transportation & new technology智慧交通与新技术
7 · 2024-06-26 → 2026-01-27
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Deployment of vehicle-road coordination, maglev research, and AI initiatives.部署车路协同、磁悬浮研究和人工智能计划。
2024-06-26China Railway stated in an investor interaction that it is actively researching and deploying vehicle-road coordination technology for smart transportation.中国中铁在互动平台表示，针对智慧交通的车路协同技术开展了广泛的调研与研究，积极布局相关技术储备与建设。
2024-07-29China Railway added 'Maglev' concept due to participation in 600 km/h maglev research and test line construction.中国中铁因参与时速600公里磁浮研究和试验线建造，新增【磁悬浮】概念。
2024-12-26China Railway disclosed that it has been researching 1000 km/h ultra-high-speed maglev since 2018, built a scaled test line in 2019, China's first vacuum tube maglev test platform in Pinggu (2021), and a 2 km full-size test line in Datong (2023) with multiple vehicle tests completed, mastering the construction technology.中国中铁披露自2018年开始时速1000公里超高速磁悬浮研究，2019年建成缩比试验线，2021年在北京平谷建成国内首个真空管道磁浮试验平台，2023年在山西大同建成2公里全尺寸试验线并开展多次车辆运行试验，率先掌握建造技术。
2025-04-08China Railway disclosed that it completed private deployment of DeepSeek in early February and is advancing 'AI+' special action in design, bridges, tunnels, and manufacturing.中国中铁披露已于2月初完成DeepSeek私有化部署，推进“AI+”专项行动在设计、桥梁、隧道、制造等领域应用。
2025-08-05China Railway (601390.SH) stated on the investor interaction platform that it deeply participated in the research of the high-speed maglev train project, including dedicated traction power supply equipment, high-speed turnouts, test line engineering, and system integration verification.中国中铁在投资者互动平台表示，公司在专用牵引供电设备、高速道岔、试验线工程及系统集成验证等环节深度参与高速磁浮列车项目研究。
2025-09-04China Railway's subsidiary China Railway Industry was selected for the 'High-Quality Dataset Pilot Program' at the 2025 China International Big Data Expo, building a high-quality dataset system for heavy machinery and advancing its 'Pioneer Large Model' for AI application in engineering.中国中铁旗下中铁工业入选2025中国国际大数据产业博览会“高质量数据集领航计划”先行先试名单，构建重大机械设备高质量数据集体系，推进“先锋大模型”在工程场景的AI应用。
2026-01-27China Railway stated that since 2025, it has launched AI R&D in eight vertical domains including tunnels, bridges, and electrification, and by end-2025 had released six industry-specific large models for design, construction, manufacturing, and maintenance.中国中铁表示，2025年以来全面启动隧道、桥梁、四电等八个垂域AI研发，截至2025年底已发布六个行业专用大模型，赋能勘察设计、施工建造、工业制造、运营维护等场景。
High-speed rail & railway project milestones高铁及铁路项目里程碑
24 · 2024-06-28 → 2026-06-11
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Major railway construction milestones including bridge closures, tunnel breakthroughs, and line openings.重大铁路建设里程碑，包括桥梁合龙、隧道贯通和线路开通。
2024-06-28China Railway's Yongzhou Railway Xihoumen Rail-cum-Road Bridge, the world's largest-span (1,488 m) rail-cum-road bridge, completed the承台 pouring of main pier No.5, entering the main tower construction phase.中国中铁承建的甬舟铁路西堠门公铁两用大桥（世界最大跨度公铁大桥，主跨1488米）5号主塔墩承台浇筑完成，正式进入主塔施工阶段。
2024-07-01China Railway's Hangzhou-Deqing urban railway section I tunnel fully completed; 6 stations capped, 14 shield tunnels connected, track laying expected by end-2024.中国中铁杭德市域铁路I标段全线隧道贯通；6座车站封顶，14条盾构隧道贯通，铺轨工程预计年底前结束。
2024-09-27China Railway successfully completed the dual T-shaped rigid frame rotation of the Tieke Expressway Shangzhi-Wuchang section crossing the Binsui Railway, with each single span weighing 6,071 tons, rotating 69 degrees.中国中铁成功完成铁科高速公路尚五段跨滨绥铁路双T构转体施工，2座单幅重量6071吨的T型刚构同时转体69°后精准就位。
2024-10-27China Railway Major Bridge Engineering Bureau completed the closure of the main span 160-meter continuous beam-arch bridge on the Jibin High-Speed Railway crossing G220国道, 20 days ahead of schedule, clearing the girder erection corridor in Jiyang District.中国中铁大桥局承建的济滨高铁上跨G220国道主跨160米连续梁-拱桥提前20天合龙，打通济阳区架梁通道。
2025-01-03China Railway's subsidiary China Railway No.10 Group completed the Gander Mountain Tunnel, the longest railway tunnel in Inner Mongolia, on the Baotou-Yinchuan high-speed railway. The tunnel is 12.095 km long and was completed after over 900 days of construction.中国中铁旗下中铁十局承建的内蒙古最长铁路隧道——包银高铁甘德尔山隧道贯通，隧道全长12.095公里，历时900多天施工。
2025-01-06Guangzhou Metro Line 11, the first metro loop line in the Greater Bay Area, opened on December 28, 2024. China Railway's President Chen Wenjian attended the opening. The line is 44.2 km with 31 stations.粤港澳大湾区首条地铁环线广州地铁十一号线通车，线路全长约44.2公里，设31座车站，中国中铁总裁陈文健出席开通活动。
2025-02-10China Railway's subsidiary China Railway No.3 Engineering Group launched the 'Pingshandong-4' shield tunneling machine for the Shenzhen-Shanwei High-Speed Railway, a key project in the Guangdong-Hong Kong-Macao Greater Bay Area. The machine has a cutterhead diameter of 14.34m, total length of 122m, weight of 3,848 tons, and total thrust of 20,000 tons.中国中铁旗下中铁三局为粤港澳大湾区重点工程深汕高铁始发'坪山东-4号'盾构机，刀盘直径14.34米，整机长122米，总重3848吨，总推力20000吨。
2025-03-18China Railway's subsidiary China Railway No.10 Engineering Group completed the closure of the Xuanpingxi Bridge (40+64+40m continuous beam) on the Qu-Li Railway.中国中铁旗下中铁十局承建的衢丽铁路宣平溪大桥（40+64+40米连续梁）顺利合龙。
2025-05-09China Railway's subsidiary China Railway Third Bureau completed the rotation of a continuous beam of the Shijiazhuang-Hengshui-Cangzhou intercity railway's Huanghua特大 bridge across the Huangda railway, with a double-rotation total weight of 8,000 tonnes, rotated 46°20' counterclockwise in 63 minutes.中国中铁旗下中铁三局完成石衡沧港城际铁路黄骅特大桥跨黄大铁路连续梁转体，双转体总重8000吨，历时63分钟逆时针旋转46°20′。
2025-05-12China Railway's subsidiary China Railway Beijing Engineering Bureau completed the breakthrough of the Tianzhushan No. 3 tunnel (7,808 m) on the Xi'an-Shiyan high-speed railway.中国中铁旗下中铁北京局承建的西十高铁天竺山三号隧道（7808米）贯通。
2025-05-26China Railway's subsidiary China Railway Shanghai Bureau completed the prefabrication and erection of all 698 box girders for the Xi'an-Shiyan high-speed railway at the Lantian beam yard, the line's only beam yard.中国中铁旗下中铁上海局蓝田制梁场完成西十高铁全线698孔箱梁的预制及架设任务。
2025-07-22The continuous beam of the first span of the Shanchengcun Ping'a Expressway Overpass Bridge on the Xi'an-Chengdu Railway, constructed by China Railway's subsidiary China Railway No.3 Engineering Bureau, was successfully closed. The Xi'an-Chengdu Railway is 833.1 km long, and the section under construction is 31 km in HaiDong City, Qinghai.中国中铁旗下中铁三局承建的西（宁）成（都）铁路山城村平阿高速立交特大桥首联连续梁合龙。西成铁路全长833.1公里，中铁三局承建标段位于青海省海东市，正线长度31公里。
2025-08-07The Baotou-Yinchuan High-Speed Railway Baotou-Huinong section, constructed by China Railway, started joint commissioning and testing; the line is 420 km long, designed for 250 km/h, and is expected to open within the year.由中国中铁参建的包银高铁包惠段启动联调联试，线路全长约420公里，设计时速250公里，计划年内开通运营。
2025-08-13The Ruoergai Tunnel on the Sichuan-Qinghai Railway, constructed by China Railway's subsidiary China Railway No.7 Engineering Group, was successfully completed; the tunnel is 2,176.92 meters long, designed for 200 km/h.中国中铁旗下中铁七局承建的川青铁路若尔盖隧道顺利贯通，隧道全长2176.92米，设计时速200公里。
2025-09-01China Railway's subsidiary China Railway Sixth Bureau completed the last box girder erection of the Xiong'an-Xinzhou High-Speed Railway Xiongbao Super Major Bridge (approx. 21 km), using Beidou positioning for millimeter-level monitoring, laying foundation for track and deck works.中国中铁旗下中铁六局完成雄忻高铁雄保特大桥（约21公里）最后一孔箱梁架设，应用北斗定位实现毫米级监测，为后续无砟轨道和桥面系施工奠定基础。
2025-09-03China Railway's subsidiary China Railway Beijing Bureau completed the breakthrough of the Lijiashan Tunnel (4,106 m) on the Xi'an-Chongqing High-Speed Railway, a single-hole double-track tunnel designed for 350 km/h, after 844 days of construction.中国中铁旗下中铁北京局承建的西渝高铁李家湾隧道（4106米）贯通，为单洞双线隧道，设计时速350公里，历时844天。
2025-12-19The Fuping Tunnel, the longest tunnel on the Hebei section of the Xiong'an-Xinzhou High-Speed Railway (Xiongxin HSR), constructed by China Railway Tunnel Group (a subsidiary of China Railway), was completed. The tunnel is 11.29 km long, max depth 590 m, part of the 342 km, 350 km/h national 'Eight Vertical and Eight Horizontal' network.由中国中铁旗下中铁隧道局承建的雄忻高铁河北段最长隧道——阜平隧道贯通，全长11.29千米，最大埋深590米，雄忻高铁全长342千米，设计时速350千米，是国家“八纵八横”高铁网组成部分。
2025-12-29The Baotou-Yinchuan High-Speed Railway Baotou-Huinong section, constructed by multiple China Railway subsidiaries (China Railway First Bureau, Second Bureau, Fourth Bureau, Sixth Bureau, Tenth Bureau, Electrification Bureau, Construction Engineering, Shanghai Bureau, Beijing Bureau, Design, Huatie, Industry), was officially opened to traffic, completing the full line. The 519 km, 250 km/h railway is part of the national 'Eight Vertical and Eight Horizontal' Beijing-Lanzhou corridor.由中国中铁旗下多家单位参建的包银高铁包头至惠农段正式通车，包银高铁全线贯通。线路全长519公里，设计时速250公里，是国家“八纵八横”高铁网北京至兰州通道的组成部分。
2026-02-28China Railway's subsidiary China Railway No.3 Engineering Group participated in the construction of the Jinhua-Jiande High-Speed Railway Lanxi-Jiande section, which opened for operation. The section is 43.5 km long, designed for 250 km/h, with China Railway No.3 Engineering Group responsible for 10.3 km of civil engineering and 93.73 km of track laying, including the 6,538-meter Lanjiang特大 bridge.中国中铁旗下中铁三局参建的金华至建德高铁兰溪至建德段开通运营，该段长43.5公里，设计时速250公里，中铁三局承担10.3公里土建工程及93.73公里铺轨施工任务，包括全长6538米的兰江特大桥。
2026-03-20China Railway Seventh Group completed a 24,000-ton swivel T-frame bridge crossing the Luohe-Fuyang Railway, rotating 89 degrees in 100 minutes, a key project on National Highway 107.中铁七局完成2.4万吨转体T构桥跨越漯阜铁路，逆时针旋转89度，历时100分钟，为国道107关键控制性工程。
2026-04-28China Railway's subsidiary China Railway No.5 Engineering Group completed the opening of the Baoshan-Pupian section of the Dali-Ruili Railway (23.6 km), ending the history of no train service in western Baoshan, Yunnan.中国中铁旗下中铁五局参建的大瑞铁路保山至蒲缥段（23.6公里）开通运营，结束了云南保山西部山区不通火车的历史。
2026-05-08China Railway's subsidiary China Railway No.3 Engineering Group completed the pier construction of the Zaolinzhuang Hub Reconstruction and Expansion Project in Xiong'an New Area, Hebei, expanding the sluice from 4 to 6 bays (single bay width from 10m to 12m), using BIM-optimized formwork technology, saving 12 days of construction time and generating 2 patents and 1 enterprise-level construction method.中国中铁旗下中铁三局承建的河北雄安枣林庄枢纽改扩建工程完成全部闸墩施工，节制闸由4孔扩至6孔（单孔宽由10米增至12米），应用BIM优化模板技术，节约工期12天，形成2项专利、1项企业级工法。
2026-06-03China Railway First Group completed the acceptance of a 37.365 km road reconstruction project in Luolong County, Tibet, connecting Zhongwa and Sama villages, using plateau-adapted construction techniques.中铁一局承建的西藏洛隆县腊久乡经中瓦村至萨玛村公路改造工程（全长37.365公里）通过验收，采用高原适应性施工技术。
2026-06-11China Railway Major Bridge Engineering Group completed all four main bridge piers above water for the Luoyang Yellow River Highway-Railway Bridge on the Jiaozuo-Pingdingshan Railway, using a novel C9 lock-pile cofferdam structure and intelligent monitoring system.中铁大桥局承建的焦平铁路洛阳黄河公铁大桥主桥四个水中墩全部出水，首次在黄河主河道应用新型C9锁口桩围堰结构及智能监测系统。
Shareholder meetings & dividends股东大会与分红
14 · 2024-06-29 → 2026-06-16
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Annual general meetings, dividend declarations, and shareholder return plans.年度股东大会、股息宣告和股东回报计划。
2024-06-29China Railway held its 2023 annual general meeting, approving 15 proposals including the 2023 profit distribution plan and the 2024-2026 shareholder return plan.中国中铁召开2023年度股东大会，审议通过了《2023年度利润分配方案》和《2024年至2026年度股东回报规划》等15项议案。
2024-07-05China Railway announced 2023 dividend: A-share cash dividend of RMB 0.21 per share, record date July 25, ex-dividend July 26, payment around August 8.中国中铁公告2023年度利润分配：A股每股现金红利0.21元，股权登记日7月25日，除权除息日7月26日，现金红利发放日8月8日左右。
2025-03-28China Railway (601390.SH) proposed 2024 dividend of 0.178 yuan per share (total 4.404 billion yuan, 15.79% of net profit) and a 2025 interim dividend plan of up to 20% of first-half net profit attributable to shareholders.中国中铁拟2024年度每10股派发现金红利1.78元（合计约44.04亿元，占净利润15.79%），并计划2025年中期分红，总额不超过上半年归母净利润的20%。
2025-05-16China Railway announced a special general meeting of shareholders on June 20, 2025, to consider a share repurchase proposal.中国中铁公告将于2025年6月20日召开第一次特别股东大会，审议股份回购议案。
2025-06-20China Railway's 2024 annual general meeting approved 18 proposals including the 2024 profit distribution plan, 2025 interim dividend plan, A-share buyback scheme, and election of Fang Xiaobing as non-executive director.中国中铁2024年度股东大会审议通过18项议案，包括2024年度利润分配方案、2025年中期分红计划、A股回购方案及选举房小兵为非执行董事。
2025-07-04China Railway announced that the A-share record date for the 2024 dividend is July 17, 2025, ex-dividend date and cash dividend payment date is July 18, 2025; H-share book closure period is July 11-17, 2025, with cash dividend payment around July 31, 2025.中国中铁公告2024年分红：A股股权登记日为2025年7月17日，除息日及现金红利发放日为2025年7月18日；H股暂停办理股份过户登记期间为2025年7月11日至7月17日，现金红利发放日约为2025年7月31日。
2025-09-02China Railway plans to add an interim dividend in 2025, with total payout not exceeding 20% of the first-half 2025 net profit attributable to ordinary shareholders, to be implemented during the year.中国中铁拟在2025年增加一次中期分红，分红总额不超过2025年上半年归属于普通股股东净利润的20%，年内适时实施。
2025-10-30China Railway proposed 2025 interim dividend of 0.082 yuan per share (tax incl.), total 2.024 billion yuan, representing 17.11% of 1H 2025 net profit.中国中铁提议2025年中期分红每股0.082元（含税），合计20.24亿元，占2025年上半年归母净利润的17.11%。
2025-11-19China Railway announced a dividend of 0.0899 HKD per share, with ex-dividend date Dec 1, 2025 and payment date Dec 23, 2025.中国中铁宣布每股派息0.0899港元，除净日2025年12月1日，派息日2025年12月23日。
2025-12-15China Railway announced 2025 semi-year cash dividend of RMB 0.082 per share (tax included), total RMB 2.023 billion, with record date 2025-12-22 and ex-dividend date 2025-12-23.中国中铁宣布2025年半年度每股派发现金红利0.082元（含税），合计20.23亿元，股权登记日2025年12月22日，除权除息日2025年12月23日。
2026-01-15China Railway announced that the first extraordinary general meeting of 2026 will be held on Feb 6, 2026.中国中铁公告，2026年第一次临时股东大会将于2026年2月6日召开。
2026-03-302025 full-year dividend plan: total cash dividend of 4.144 billion yuan, representing 18.10% of net profit. Final dividend of 0.086 yuan per share (tax included), totaling 2.121 billion yuan.2025年度利润分配方案：拟派发现金红利总额41.44亿元，占归母净利润18.10%。末期每股派息0.086元（含税），合计21.21亿元。
2026-05-27China Railway announced that its 2025 annual general meeting of shareholders will be held at 9:30 a.m. on June 29, 2026, at China Railway Plaza in Beijing, with the record date for shareholding being June 23.中国中铁公告，将于2026年6月29日9点30分在北京中国中铁广场举行2025年年度股东会，股权登记日为6月23日。
2026-06-16China Railway announced a 2025 cash dividend of 4.144 billion yuan (18.10% of net profit, up 2.31 percentage points YoY) and plans to implement a 2026 interim dividend.中国中铁宣布2025年度拟派发现金红利41.44亿元（占净利润18.10%，同比提升2.31个百分点），并计划实施2026年中期分红方案。
Project milestones & construction achievements项目里程碑与建设成就
7 · 2024-06-30 → 2026-04-29
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Key project completions, topping-out events, and infrastructure progress.关键项目完工、封顶事件及基础设施进展。
2024-06-30China Railway confirmed its participation in the Shenzhen-Zhongshan Cross-Sea Corridor project, constructing East Artificial Island (S03 bid) and main line S07 bid including tunnels, artificial islands, and bridges.中国中铁确认参建深中通道东人工岛及主线堰筑段隧道施工S03标和主体工程S07标，含隧道、人工岛和桥梁工程。
2024-08-12China Railway's Jilin regional headquarters base project (Plot B) in Changchun received facade adjustment approval from the Changchun Natural Resources and Planning Bureau, signaling imminent construction.中国中铁吉林区域总部基地项目B地块在长春获得立面调整公示，由长春市规划和自然资源管理局发布，即将启动建设。
2024-12-30China Railway's contracted section of Guangzhou Baiyun Airport Phase 3 resettlement project achieved first 32-story residential building topping-out 300 days after start; all structures (including schools and cultural center) topped out by Sep 28, 2024, becoming the first model community fully opened.中国中铁承建的白云机场三期安置区项目标段开工仅300天实现首栋32层住宅封顶，2024年9月28日所有主体结构全面封顶，成为首个实现样板社区全面开放的项目。
2025-05-23China Railway's mining hard rock tunnel boring machine 'Jiadao' started excavation at the Jia Da lithium mine in Maerkang, Sichuan (altitude 3,550 m), with a first section of 2.65 km; the TBM's efficiency is 4-6 times that of traditional drill-and-blast methods.中国中铁等单位研制的矿用硬岩掘进机“嘉达号”在四川马尔康加达锂矿始发掘进，首段2.65公里，掘进效率是传统钻爆法的4-6倍。
2025-06-06China Railway's self-developed cantilever intelligent bridge-building machine successfully poured the 5th segment of the 128m continuous beam of the Ninghuai Intercity Railway across the Macha River, improving efficiency by 25%.中国中铁自主研发的悬臂智慧造桥机成功浇筑宁淮城际铁路跨马汊河128米连续梁5号节段，工效提升25%。
2025-10-12China Railway's self-developed 14.82m-diameter slurry shield TBM 'Hongchuan Hao' launched on Nantong-Suzhou-Ningbo High-Speed Railway Suzhou East Tunnel, a 2.29km single-tube double-track tunnel.中国中铁自主研制的直径14.82米泥水平衡盾构机“红船号”在通甬高铁苏州东隧道始发，该隧道全长2289.7米，为单洞双线隧道。
2026-04-29China Railway's subsidiary China Railway No.7 Engineering Group completed the first 3D-printed tunnel integrated lining demonstration project in China, at the Guangzhou-Zhanjiang High-Speed Railway Xiangqian Tunnel, passing on-site inspection.中国中铁旗下中铁七局承建的国内首个3D打印隧道一体化衬砌示范工程在广湛高铁向前隧道通过现场核查验收。
Bond issuances & listings债券发行与上市
2 · 2024-07-15 → 2024-08-20
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Approval and listing of corporate bonds and perpetual bonds.公司债券和永续债券的批准与上市。
2024-07-15Shanghai Stock Exchange approved listing of China Railway's 2024 first tranche sci-tech innovation perpetual bond (Tranche 1) '24 Tie YK01' from July 16.上交所同意中国中铁2024年第一期科技创新可续期公司债券（品种一）“24铁YK01”自2024年7月16日起上市。
2024-08-20China Railway's 2024 third tranche (variety two) innovation sustainable corporate bonds (24 Tie YK06) were approved for listing on the Shanghai Stock Exchange starting August 21, 2024.中国中铁2024年第三期（品种二）科技创新可续期公司债券（24铁YK06）获上交所批准，自2024年8月21日起上市交易。
Board & governance actions董事会与治理行动
5 · 2024-07-29 → 2026-05-18
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Board meetings, director elections, charter amendments, and compensation plans.董事会会议、董事选举、章程修订及薪酬计划。
2024-07-29China Railway proposed re-election of Chen Yun, Chen Wenjian, Wang Shiqi as executive directors, Wen Limin as non-executive director, and election of Sun Lishi and Tu Haiming as independent non-executive directors for 6th board.中国中铁建议重选陈云、陈文健、王士奇为执行董事，文利民为非执行董事，并选举孙力实、屠海鸣为独立非执行董事，组成第六届董事会。
2024-12-30China Railway's board of directors held the 6th interim meeting and reviewed the '2025 Major Operational Risk Forecast Assessment Report'.中国中铁董事会召开第六届第六次临时会议，审议《关于中国中铁2025年度重大经营风险预测评估报告的议案》。
2025-03-13China Railway (601390.SH) board reviewed the '2025 Annual Investment Plan Proposal' at the 6th Board 8th interim meeting.中国中铁董事会第六届第八次临时会议审议了《关于中国中铁2025年度投资计划方案的议案》。
2025-04-30China Railway board meeting approved revision of company章程 and proposed cancellation of the board of supervisors (监事会).中国中铁董事会审议通过修订公司章程并取消监事会的议案。
2026-05-18China Railway's 6th Board of Directors held its 22nd interim meeting, reviewing and approving the 2026 total wage budget plan, revisions to the director remuneration management method, and the formulation of the senior management compensation management method.中国中铁第六届董事会第二十二次临时会议审议通过2026年度工资总额预算方案、修订董事报酬管理办法及制定高级管理人员薪酬管理办法等议案。
Disaster relief & social responsibility救灾与社会责任
3 · 2024-08-27 → 2025-01-17
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Earthquake relief efforts in Tibet and charitable trust establishment.西藏地震救灾和慈善信托设立。
2024-08-27China Railway launched the 'China Railway Rural Revitalization No.3 Charitable Trust' with a contribution of 86 million yuan, following No.1 (79.3 million yuan) and No.2 (82 million yuan), totaling 247.3 million yuan, to support projects in Shanxi, Hunan, and Tibet.中国中铁发起设立“中国中铁乡村振兴3号慈善信托”，投入8600万元，继1号（7930万元）和2号（8200万元）后，累计2.473亿元，支持山西、湖南、西藏等地乡村振兴项目。
2025-01-13China Railway completed installation of the first 300 prefabricated houses in earthquake-hit Dingri County, Tibet, with the fastest assembly time of 2 minutes 7 seconds per unit.中国中铁在西藏日喀则市定日县完成首批300套板房安装，最快搭建速度仅2分7秒。
2025-01-17China Railway mobilized 83 rescue personnel and 91 pieces of equipment to Ngamring County, Tibet, and completed 130 prefabricated houses as part of earthquake relief efforts.中国中铁转战西藏昂仁县，投入抢险人员83人、机械设备91台套，搭建完成130个板房。
Strategic cooperation & visits战略合作与访问
4 · 2024-09-07 → 2026-03-30
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Cooperation discussions, delegation visits, and international engagements.合作讨论、代表团访问及国际交往。
2024-09-07China Railway's Hainan regional headquarters discussed cooperation with Hainan Reken Hot Crop Industry Group on a pepper processing plant construction project.中国中铁海南区域总部与海垦热作产业集团就胡椒加工厂建设项目合作模式进行座谈。
2024-09-15China Railway Chairman Chen Yun attended the 9th Belt and Road Summit in Hong Kong and held talks with Hong Kong Transport and Logistics Bureau Director Lam Sai-hung and MTR CEO, expressing willingness to participate in Hong Kong transport infrastructure projects.中国中铁董事长陈云出席香港第九届‘一带一路’高峰论坛，与香港运输及物流局局长林世雄和港铁公司行政总裁会谈，表达参与香港交通基础设施项目的意愿。
2025-07-11China Railway, together with the Franz Liszt Academy of Music and Eötvös Loránd University, held the China-Hungary Railway Cultural Fusion Midsummer Annual Meeting in Budapest. The 'China Railway - Eötvös Loránd University International Student Internship Program in China' was inaugurated, and the bilingual song 'Tong Xin Zhu Meng Yuan' was performed.中国中铁与李斯特音乐学院、罗兰大学在布达佩斯联合举办匈塞铁路文化融合之仲夏年会，“中国中铁—罗兰大学在华留学生实习项目”正式揭牌，中匈双语歌曲《同心铸梦圆》唱响。
2026-03-30Vietnam's Truong Hai Group (THACO) delegation visited China Railway's key projects and manufacturing bases in Shenzhen, Nanjing, Zhengzhou, and Beijing, including shield tunneling and TBM production sites.越南长海集团代表团参观中国中铁在深圳、南京、郑州、北京的重点项目及制造基地，包括盾构施工和TBM生产基地。
Guarantees & financial services担保与金融服务
4 · 2024-11-01 → 2026-04-29
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Provision of guarantees for subsidiaries and related-party financial agreements.为子公司提供担保及关联方金融协议。
2024-11-01China Railway provided a 100M yuan guarantee for its subsidiary Zhongtie Sichuan Eco-city Investment Co., Ltd., with a term from 2024-09-05 to 2027-08-04.中国中铁为子公司中铁四川生态城投资有限公司提供1亿元担保，担保起始日2024年9月5日，结束日2027年8月4日。
2025-01-06China Railway's board approved a related-party financial services framework agreement between its subsidiary China Railway Finance Co. and China Railway Engineering Group.中国中铁董事会审议通过了关于中铁财务有限责任公司与中国铁路工程集团有限公司签署金融服务关联交易框架协议的议案。
2025-09-04China Railway provided a 320 million yuan guarantee for its subsidiary China Railway Cultural Tourism Investment Group, with joint liability, effective from 2025-06-25 to 2035-06-25.中国中铁为全资子公司中铁文化旅游投资集团有限公司提供3.2亿元连带责任担保，担保起始日2025年6月25日，结束日2035年6月25日。
2026-04-29China Railway's board approved a 2026 H2-2027 H1 external guarantee budget of up to 120 billion yuan for subsidiaries and associates.中国中铁董事会审议通过2026年下半年至2027年上半年对外担保预算，总额度不超过1200亿元。
Share buyback plan & market value management股份回购计划与市值管理
10 · 2025-04-10 → 2026-03-02
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Proposed and executed A-share buyback programs for capital reduction.为减资而提议并执行的A股回购计划。
2025-04-10Chairman Chen Wenjian proposed an A-share buyback of 0.8-1.6 billion yuan for capital reduction, funded by自有资金 and repo loan.董事长陈文健提议回购A股股份8-16亿元，用于减少注册资本，资金来源为自有资金及回购增持再贷款。
2025-04-16China Railway received a loan commitment letter from ICBC Beijing Branch for up to 1.6 billion yuan (max 90% of actual buyback) for the A-share buyback, with 3-year term.中国中铁取得工商银行北京市分行不超过16亿元（不高于实际回购90%）股票回购专项贷款承诺函，贷款期限3年。
2025-04-29China Railway board approved share buyback plan of 0.8-1.6 billion yuan for capital reduction, with repurchase price cap of 8.5 yuan per share, subject to shareholder approval.中国中铁董事会审议通过回购股份方案，拟8-16亿元回购用于减资，回购价格上限8.5元/股，待股东大会批准。
2025-05-06China Railway board approved a proposal to repurchase A-shares for RMB 800 million to RMB 1.6 billion, subject to shareholder approval at the AGM and class meetings.中国中铁董事会审议通过了拟回购A股股份的提案，回购资金总额为人民币8亿元至16亿元，待提交年度股东大会和类别股东会批准后实施。
2025-06-23China Railway announced a plan to repurchase A-shares via centralized竞价 trading, with total amount between 0.8 billion and 1.6 billion yuan, price cap 8.5 yuan/share, period from 2025-06-20 to 2026-06-19.中国中铁公告拟以集中竞价交易方式回购A股股份，回购金额不低于8亿元且不超过16亿元，价格上限8.5元/股，期限2025年6月20日至2026年6月19日。
2025-10-21China Railway completed first A-share buyback of 3.5075 million shares (0.0142% of total) for 20 million yuan at 5.63-5.73 yuan/share, part of a planned 0.8-1.6 billion yuan buyback program.中国中铁完成首次A股回购，回购350.75万股（占总股本0.0142%），金额2000万元，价格区间5.63-5.73元/股，为计划8-16亿元回购方案的一部分。
2025-11-04China Railway disclosed share buyback progress: as of Oct 31, 2025, it repurchased 6.9986 million A-shares (0.0283% of total) at 5.63-5.75 yuan/share, totaling 39.9993 million yuan, under a plan to repurchase 0.8-1.6 billion yuan at up to 8.50 yuan/share by June 2026.中国中铁披露股份回购进展：截至2025年10月31日，已回购699.86万股A股（占总股本0.0283%），成交价5.63-5.75元/股，总金额3999.93万元；回购计划总额8-16亿元，上限8.50元/股，期限至2026年6月。
2025-12-01China Railway announced an A-share buyback plan using自有资金 and stock repurchase special loan, with total funds of RMB 800 million to RMB 1.6 billion, price cap of RMB 8.50/share, shares to be cancelled, repurchase period from 2025-06-20 to 2026-06-19.中国中铁宣布使用自有资金和股票回购专项贷款回购A股，资金总额不低于8亿元、不超过16亿元，回购价格上限8.50元/股，股份将注销，回购期限为2025年6月20日至2026年6月19日。
2026-01-04China Railway announced that as of Dec 31, 2025, it had repurchased 28.812 million A-shares (0.1167% of total share capital) for a total of 160 million yuan, at prices between 5.42 and 5.75 yuan per share, as part of a plan to repurchase 800 million to 1.6 billion yuan of shares for cancellation.中国中铁公告，截至2025年12月31日，已累计回购A股2881.2万股（占总股本0.1167%），总金额1.6亿元，回购价格区间5.42-5.75元/股，作为计划回购8-16亿元股份用于注销的一部分。
2026-03-02As of Feb 28, 2026, the company repurchased 28.812 million A-shares (0.1167% of total shares) for 160 million yuan, at prices between 5.42 and 5.75 yuan per share, for capital reduction.截至2026年2月28日，公司累计回购A股2881.2万股（占总股本0.1167%），耗资1.60亿元，回购价格区间5.42-5.75元/股，用于减少注册资本。
IT & technology investmentsIT与技术投资
1 · 2025-07-04
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Disclosures on information technology spending and innovation bonds.信息技术支出披露及创新债券。
2025-07-04China Railway disclosed that its total information technology investment from 2021 to 2023 was approximately 400 million yuan.中国中铁披露2021至2023年间信息化投入约为4亿元。
Equipment & machinery launches设备与机械发布
1 · 2025-07-24
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Launch of shield machines, TBMs, and bridge-building machines.盾构机、TBM及造桥机的发布。
2025-07-24The first shield machine jointly built by China Railway Industry and Sichuan Water Resources Development Group, named 'Chuanshanjia No.1', was launched in Xinjin District, Chengdu. It is a 3.72m diameter earth pressure balance shield machine, 135m long, designed for permafrost construction at -40°C, marking the first 'Made in Sichuan' shield machine.由中铁工业、四川水发集团主办的中国中铁携手四川省打造高端装备产业首台盾构机下线活动在成都市新津区举行，'川山甲1号'盾构机下线，开挖直径3.72米，整机长度约135米，专为零下40摄氏度极端低温永久冻土层施工设计，为全链首台'四川造'土压平衡盾构机。
Subsidiary stake increase & capital actions子公司增持与资本运作
3 · 2025-11-21 → 2026-05-07
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Increasing stake in listed subsidiary China Railway Hi-Tech Industry.增持上市子公司中铁工业的股份。
2025-11-21China Railway increased its stake in China Railway Hi-Tech Industry (600528.SH) by 9.8142 million shares (0.44% of total) via open market, totaling 80.0952 million yuan, as part of a planned shareholding increase.中国中铁通过集中竞价方式增持中铁工业(600528.SH)981.42万股（占总股本0.44%），累计成交总额8009.52万元，作为增持计划的一部分。
2026-04-13China Railway increased its stake in China Railway Hi-Tech Industry (中铁工业) from 49.13% to 50.00% via on-market purchases, using自有资金 and stock增持专项贷款, costing ~80.439 million yuan for 9.6 million shares.中国中铁通过集中竞价增持中铁工业股份，持股比例从49.13%增至50.00%，耗资约8043.9万元增持960万股，资金来源为自有资金和股票增持专项贷款。
2026-05-07China Railway (600528.SH) announced that its parent China Railway Group had cumulatively increased its stake in China Railway Hi-Tech Industry by approximately 19.77 million shares (0.89% of total share capital) for about 160 million yuan, exceeding the lower limit of the plan.中铁工业(600528.SH)公告，控股股东中国中铁累计增持约1977万股（占总股本0.89%），增持金额约1.6亿元，已超过增持计划下限。
