A method for formulating an electric multiple unit (EMU) circulation plan is provided, in which the state data of the EMUs is collected by an onboard sensor assembly deployed on the EMUs in real time, including actual position information, accumulated mileage data, and maintenance state data; a spatiotemporal network is established based on the state data; an original model is established based on the state data and the spatiotemporal network; an aggregative optimization model is established based on the state data and the original model; an aggregation result is obtained by the aggregative optimization model based on the state data; a disaggregation model is established based on the aggregation result; and a an EMU circulation plan is automatically generated by the disaggregation model by combining the aggregation result with the state data in real time.