CRRC (01766) surged over 4% in afternoon trading. As of press time, the stock was up 4.17% to HK$6.24, with trading volume reaching HK$119 million.

On the news front, CRRC previously released its interim results. In the first half of the year, the company achieved revenue of 119.758 billion yuan, up 33% year-on-year; net profit attributable to shareholders reached 7.246 billion yuan, up 72% year-on-year; and adjusted net profit attributable to shareholders was 6.661 billion yuan, up 98% year-on-year.

The financial report showed that all four major business segments achieved positive year-on-year growth, with railway equipment revenue posting the fastest growth rate of over 40%.

Notably, on August 19, China State Railway Group released a procurement announcement for the second batch of 350 km/h Fuxing intelligent EMU sets for 2025, with a total procurement of 210 units. Combined with the first batch of 68 units procured in April this year, the cumulative procurement from January to August has reached 278 units, already exceeding the full-year total for 2024.

According to reports, China State Railway Group's 2025 work conference set the following targets: national railway passenger volume of 4.28 billion passengers, up 4.9% year-on-year, with efforts to complete infrastructure investment of 590 billion yuan and put 2,600 kilometers of new lines into operation, a significant increase from the 2024 target of 1,000 kilometers.