HK Stock Market Move | Zhuzhou CRRC Times Electric (03898) rose more than 3% in early trading, with the amount of repurchases exceeding 300 million Hong Kong dollars so far this year. The company benefits from the high prosperity of rail transit equipment.

Zhuzhou CRRC Times Electric (03898) rose more than 3% in the early trading session, up 2.72% as of the time of writing, to HK$30.25, with a turnover of HK$36.4562 million. In terms of news, Zhuzhou CRRC Times Electric announced that on January 22, the company repurchased 440,000 shares, involving HK$12.77 million. It is worth noting that since January 6, the company has conducted repurchases for 13 consecutive days, repurchasing a total of 9.8545 million shares, with a cumulative repurchase amount of approximately HK$294 million. The year-to-date cumulative repurchase exceeds HK$3.07 billion. Haitong pointed out that the high demand for the procurement of multiple units and advanced maintenance in the rail industry, coupled with the implementation of equipment renewal policies and the phase-out and renewal policies for old internal combustion locomotives, as well as accelerated expansion into overseas markets, are expected to benefit the rail transportation equipment sector. Changjiang previously stated that in the field of rail transportation, Zhuzhou CRRC Times Electric has fully benefited from the uptrend in demand for new multiple units and advanced maintenance of multiple units; at the same time, the Beijing Emerging Eastern Aviation Equipment sector continues to expand and is expected to contribute further to profit growth. The company's favorable outlook is driven by both the rail transportation equipment sector and the Beijing Emerging Eastern Aviation Equipment sector.