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update:11-02-2020
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Requirements for the localization of railway parts prod […]

Requirements for the localization of railway parts products According to the "Minutes of the Meeting on the Study of Railway Locomotive and Rolling Stock Equipment Related Issues" issued by the State Council, the Ministry of Railways formulated the "Implementation Outline for Accelerating the Modernization of Railway Locomotive and Rolling Stock Equipment", which clarified the adoption of market for technology and independent innovation. Earnestly improve the level of research and development, design and manufacturing of China's rolling stock manufacturing industry, and enhance the international competitiveness of enterprises. The "Medium and Long-term Railway Network Plan" proposes that the level of railway accessories be rapidly improved to reach or approach the level of developed countries at an early date, and that the improvement of the level of equipment localization should be regarded as an important content of the "11th Five-Year Plan" and future railway construction. Therefore, in the construction of high-speed railways, the Ministry of Railways has very clear localization ratio requirements. The localization ratio of high-speed railways must reach more than 70%. 30% of imported technologies and products will be mainly concentrated in power systems and electronic control systems. We believe that basic railway accessories such as elastic components, bridge bearings, axles, fasteners and bearings will be produced by high-quality domestic enterprises.
Investment in the railway parts industry will remain at a relatively high level within the next 10 years. In the context of the large-scale development of railway parts, the process of localization of equipment will become the key. We believe that in the future construction process of high-speed railways, various domestic segments The industry leader will improve the level of comprehensive manufacturing and technology by introducing and digesting foreign technologies and combining independent innovation. Benefiting from the improvement of the industry's prosperity, listed companies in the domestic railway parts industry have a certain investment value. We give this industry an outperform rating.
During the "Eleventh Five-Year Plan" period for railway parts, the Ministry of Railways will vigorously develop electric traction locomotives. Electric locomotives will take up more than 80% of the transportation workload and realize the localization of AC drive locomotives. Supporting the development of electric locomotives adapted to 200 kilometers per hour, vigorously develop 25 tons heavy-duty freight locomotives. The number of locomotives in 2010 will reach about 19,000. Based on the research and development of key technologies for EMUs with speeds of 200 kilometers per hour and above, combined with the introduction of a small number of EMUs, the railway accessories will achieve the localization of EMUs with speeds of 200 kilometers and above as soon as possible, and actively promote the development of key technologies for EMUs with speeds of 300 and kilometers , Research and development, the end of the period to form a high-speed EMU manufacturing, maintenance, operation and domestic supporting capabilities. In 2010, the EMU configuration reached about 1,000 trains.
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