Chongqing M&E (02722) rose over 4%, gaining 4.37% to HK$2.39 by the time of writing, with a turnover of HK$19.0109 million. Recently, the State-owned Assets Supervision and Administration Commission of Chongqing Municipality issued the "Work Plan for Further Enhancing the Scientific and Technological Innovation Capabilities of Municipal State-Owned Enterprises," which systematically deploys seven specialized tasks and iteratively upgrades innovation measures for these enterprises. Xingye Securities pointed out that Chongqing M&E is 58.52% owned by Chongqing Holdings (Group), with the Chongqing M&E Group being subordinate to the Chongqing SASAC; its controlling business primarily includes equipment such as hydro turbines, wires and cables, gas compressors, industrial pumps, wind turbine blades, and machine tools (Chongqing Machine Tool, UK's PTG), while it holds stakes in Chongqing Cummins and Chongqing Hitachi Energy. Xingye Securities stated that Chongqing M&E's subsidiaries, Chongqing Cummins and Chongqing Hitachi Energy, possess high growth certainty over the coming years. Among them, Chongqing Cummins mainly produces engine models including QSN/NT, QSK19/K19, QSK38/K38, QSK50/K50, and QSK60, and is Cummins China's sole large-bore engine enterprise; due to tight industry supply, the company is actively expanding its production capacity, with high-horsepower engines for data centers and other sectors expected to see sustained growth in the coming years.
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