Guotai Junan Securities maintains a "buy" rating on Era Electric (03898.HK) as third-quarter performance meets expectations.

According to the Zhitong Finance APP, Industrial Securities released a research report stating that the passenger traffic volume of China Railway continues to increase, and the elimination of old diesel locomotives will also become another growth driver. Times Electric (03898.HK) rail transit business growth has a high level of certainty, and as new businesses enter the period of production capacity release, it is expected that the company's operating income in 2025-2027 will be 28.72, 31.64, and 35.22 billion yuan respectively, with net profit attributable to the parent company of 4.108, 4.844, and 5.586 billion yuan respectively, maintaining a "buy" rating. In the third quarter of 2025, the company's revenue was 6.616 billion yuan, with a net profit attributable to the parent company's shareholders of 1.049 billion yuan, and a net profit attributable to the parent company's shareholders after deducting non-recurring gains and losses of 1.026 billion yuan, meeting expectations.