Core Viewpoint - China Railway Group Limited (601390) announced a share buyback plan, investing RMB 600.195 million to repurchase 10.9459 million A-shares at a price range of RMB 5.43 to 5.51 per share [1] Group 1 - The company will execute the buyback on December 29, 2025 [1] - The total investment for the buyback is approximately RMB 600.195 million [1] - The number of shares to be repurchased is 10.9459 million [1] Group 2 - The buyback price per share is set between RMB 5.43 and RMB 5.51 [1]

Group 1 - China Railway (00390) announced a share buyback plan, intending to spend RMB 60.0195 million to repurchase 10.9459 million A-shares [1][5] - The buyback price is set between RMB 5.43 and RMB 5.51 per share [1][5]

Core Viewpoint - China Railway Group Limited (00390) announced a share buyback plan, intending to repurchase 10.946 million A-shares at a total cost of approximately RMB 600.195 million, with a buyback price range of RMB 5.43 to 5.51 per share [1] Summary by Category Company Actions - The company plans to execute the buyback on December 29, 2025, indicating a strategic move to enhance shareholder value [1] Financial Details - The total amount allocated for the buyback is RMB 600.195 million, which translates to approximately USD 85.5 million based on current exchange rates [1] - The number of shares to be repurchased is 10.946 million, reflecting a significant investment in the company's own equity [1] - The buyback price range is set between RMB 5.43 and RMB 5.51 per share, providing a clear financial framework for the transaction [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國中鐵股份有限公司 呈交日期： 2025年12月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | | 證券代號 (如上市) | | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | | 已發行股份總數 | ...

Group 1 - China Railway (00390) announced a share repurchase plan, intending to spend 39.9996 million yuan to buy back 7.3646 million A-shares on December 24, 2025 [2][5]

Investment Rating - The report maintains an investment rating of "Leading the Market - A" for the construction industry, indicating an expected return that will outperform the CSI 300 index by 10% or more over the next six months [6]. Core Insights - The 2026 fiscal policy is set to remain proactive, with a focus on increasing fiscal spending and optimizing government bond tools to enhance local financial capabilities. This is expected to support economic growth and improve the construction industry's operational conditions [18][11]. - Infrastructure investment has shown signs of recovery, with November data indicating a month-on-month improvement. The construction sector is anticipated to stabilize as policies aimed at debt reduction and "anti-involution" continue to be implemented [2][11]. - The demand for cleanroom construction is expected to rise due to increased capital expenditures in the semiconductor and cloud service sectors, driven by rapid advancements in AI technology [3][15]. Summary by Sections Industry Dynamics - The national fiscal work conference highlighted the achievements of 2025 and outlined the key tasks for 2026, emphasizing a more active fiscal policy to stimulate consumption and manage risks in key areas [18]. - The construction industry is expected to benefit from a combination of improved fiscal policies and a recovering investment environment, leading to marginal improvements in operational performance [2][11]. Market Performance - The construction industry saw a weekly increase of 2.26%, outperforming the CSI 300 index, with the decoration and renovation sector showing the highest growth at 11.37% [20][21]. - The overall industry valuation metrics indicate a TTM P/E ratio of 12.47 and a P/B ratio of 0.83, with several companies showing low valuations, suggesting potential investment opportunities [24][28]. Key Companies to Watch - Recommended companies include low-valuation state-owned enterprises such as China State Construction, China Communications Construction, and China Railway Construction, which are expected to benefit from improved cash flow and profitability [11][13]. - Cleanroom engineering leaders like Yaxin Integration and Shenghui Integration are highlighted for their potential growth due to increasing demand in the semiconductor sector [3][15].

Core Viewpoint - China Railway Group (00390.HK) announced a share buyback plan, intending to repurchase 7.3646 million A-shares for a total expenditure of 39.9996 million yuan by December 24, 2025 [1] Group 1 - The company plans to spend 39.9996 million yuan on the buyback [1] - The total number of A-shares to be repurchased is 7.3646 million [1] - The buyback is scheduled to be completed by December 24, 2025 [1]

Group 1 - The company China Railway (00390) announced a share buyback plan, intending to repurchase 7.3646 million A-shares at a total cost of 39.9996 million yuan [1]

Group 1 - The company China Railway (601390) announced a share buyback plan, intending to repurchase 7.3646 million A-shares at a total cost of 39.9996 million yuan [1]

FF305 | 1). | 回購但尚未注銷的股份 | | 3,507,500 | 0.017 % | RMB | 5.7 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年10月21日 | | | | | | 2). | 回購但尚未注銷的股份 | | 3,491,100 | 0.017 % | RMB | 5.73 | | | 變動日期 | 2025年10月23日 | | | | | | 3). | 回購但尚未注銷的股份 | | 3,502,900 | 0.017 % | RMB | 5.709 | | | 變動日期 | 2025年11月12日 | | | | | | 4). | 回購但尚未注銷的股份 | | 7,364,600 | 0.036 % | RMB | 5.43 | | | 變動日期 | 2025年12月24日 | | | | | FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國中鐵股份有限公司 呈交日期： 2025 ...