Core Viewpoint - The recent adjustments in China's high-speed rail (HSR) system reflect a shift towards increased efficiency and speed, but they also highlight the challenges of maintaining accessibility and affordability for all passengers [1][13]. Group 1: High-Speed Rail Development - Since the first high-speed rail line opened in 2008, China's total operational high-speed rail mileage has exceeded 50,000 kilometers, fundamentally transforming travel dynamics in the country [1]. - The latest national railway timetable, effective from January 26, has set a new record with 12,130 passenger trains scheduled daily [3]. Group 2: Changes in Train Services - The recent timetable changes have disrupted the previously established "benchmark trains" that operated at speeds of 350 km/h, with new train numbers assigned to different high-speed lines [3]. - The G25 train, previously the only train skipping Nanjing South Station, has now become the fastest train between Beijing and Shanghai, only stopping at Nanjing South [4]. Group 3: Passenger Experience and Demand - The Beijing-Shanghai high-speed rail is known for its high passenger volume, often filled with business travelers, making it a popular choice for commuters [5]. - The introduction of more G-series trains and reduced intervals between trains aims to enhance capacity during peak hours, potentially increasing daily passenger flow by over 11,000 to 24,000 depending on train configurations [8][10]. Group 4: Financial Considerations - The Beijing-Shanghai high-speed rail, operational since June 2011, was the first profitable high-speed rail line globally, achieving profitability within three years [10]. - Despite its profitability, there are concerns about stagnating passenger growth, prompting the railway department to analyze competition from airlines for maintaining market share [12]. Group 5: Broader Implications for Rail Travel - The rapid expansion of high-speed rail has led to a reduction in conventional train services, with 71 fewer regular trains in the latest timetable, indicating a shift in travel preferences [13]. - While high-speed rail offers speed and efficiency, it cannot fully replace the accessibility and affordability provided by traditional slower trains, especially in less developed areas [15][17].

北京南站京沪高铁增加4.5对标杆列车，始发时速350km/h的标杆列车达到46列，占京沪高铁的近三分之 一，以更少的停站、更高的速度和更短的运行时间，为旅客提供更便捷的服务，让"双城生活"更加从容 方便。为更好满足旅客出行需求，首次增开去往开化的1对始发终到列车，从北京南站始发的时间为 13:04，全程运行时间6小时38分。本次调图后，北京南站17辆长编组复兴号列车由原来的47对增加至51 对。 充分发挥北京地区路网优势，6对京沪高铁动车组列车始发终到站由北京南站变更为北京站延伸至北京 站的京沪高铁列车由4对增加至6对，为旅客从北京出发提供更多的选择，提升区域服务质量。 为全面助力旅客安全、有序、温馨出行，北京南站优化完善运输组织、方便旅客便捷乘车、提供爱心服 务，让旅客出行体验更美好。车站提前预想调图带来的组织变化，详细制定相应的预案，全面更新显示 屏、广播等内容，优化现场作业和人员安排，对发车间隔3分钟等重点车次增加人员力量，确定专人进 行宣传提示，快速引导旅客有序乘车，确保出行安全。(完) 中新网北京1月26日电(记者 贾天勇)为更好的满足旅客出行需求，科学合理安排运力，1月26日零时起， 全国铁路将实 ...

Core Viewpoint - The railway and highway sector experienced a slight increase of 0.41% on January 26, with Ninghu Expressway leading the gains, while the Shanghai Composite Index fell by 0.09% and the Shenzhen Component Index decreased by 0.85% [1]. Group 1: Market Performance - The closing price of Ninghu Expressway was 11.94, with a rise of 1.70% and a trading volume of 166,300 shares, resulting in a transaction value of approximately 198.67 million yuan [1]. - Shandong Expressway closed at 9.95, up by 1.12%, with a trading volume of 72,900 shares and a transaction value of about 72.32 million yuan [1]. - The railway and highway sector saw a net inflow of 57.44 million yuan from main funds, while retail investors experienced a net outflow of 10.94 million yuan [2][3]. Group 2: Individual Stock Performance - The stock of Beijing-Shanghai High-Speed Railway closed at 4.94, increasing by 1.02%, with a trading volume of 3.2831 million shares and a transaction value of approximately 1.619 billion yuan [1]. - Dazhou Railway's stock closed at 5.04, up by 0.80%, with a trading volume of 2.2155 million shares and a transaction value of about 1.112 billion yuan [1]. - The stock of Fujian Expressway closed at 3.78, down by 1.31%, with a trading volume of 450,100 shares and a transaction value of approximately 171 million yuan [2]. Group 3: Fund Flow Analysis - Beijing-Shanghai High-Speed Railway had a main fund net inflow of 29.4 million yuan, while retail investors saw a net outflow of 14.8 million yuan [3]. - Daqin Railway recorded a net inflow of 92.79 million yuan from main funds, with a net outflow of 79.14 million yuan from retail investors [3]. - The stock of Ninghu Expressway had a main fund net inflow of 5.48 million yuan, while retail investors experienced a net outflow of 5.96 million yuan [3].

Core Viewpoint - The adjustment of the train operation schedule on January 26 aims to enhance the operational efficiency and capacity of the Beijing-Shanghai High-Speed Railway, with the minimum train departure interval reduced to 3 minutes, allowing for increased service frequency and improved passenger convenience [1] Group 1: Train Operation Adjustments - The new train operation schedule will see a total of 266.5 pairs of scheduled trains departing from Beijing South Station, with 168 pairs of the Beijing-Shanghai High-Speed Railway having their train numbers modified [1] - The minimum departure interval for the Beijing-Shanghai High-Speed Railway is now set at 3 minutes, with up to 3 trains operating within an hour during peak times, thereby enhancing the line's operational efficiency [1] Group 2: Increased Train Services - The adjustment includes the addition of 4 pairs of trains from Beijing South Station to various destinations, including Shanghai and Hangzhou, increasing the total number of scheduled trains on the Beijing-Shanghai High-Speed Railway to 140 pairs [1] - New trains are scheduled to cover peak travel times, with specific departure times such as G1 at 6:30 AM and G35 at 7:24 PM, facilitating easier travel for passengers between Beijing and Shanghai [1]

1月26日零时起，全国铁路实施新的列车运行图。此次运行图调整后，北京南站京沪高铁图定列车达到 140对，最短发车间隔压缩至3分钟。京沪两地间旅客当日往返将更加方便。 "出差的话肯定是希望越快越好。现在更方便了，买票可选择的空间更多了。"在13A检票口前，准备乘 坐G9次列车的杨女士拎着咖啡，显得十分从容。她表示，自己在上海工作，需要经常来北京出差，如 今京沪高铁发车间隔缩短至3分钟，让她的星期一不再紧张。 在北京南站的站台上，旅客有序乘车 官淼是北京客运段G9次列车的列车长。她表示，G9次列车主要以商务旅客和团体旅客为主，为了更好 地服务旅客，列车上的备品箱也发生了变化。"我们准备了手机支架、充电线、转换器等，满足旅客在 车上办公的需求，此外我们还准备了眼罩、U型枕、助眠香氛等，很受旅客们欢迎。" | 车次 | 轴覆站 | 站台 | 酮誌 | 状态 | 2026年1月26日925 | 龄视站 | 到达 | 廊次 | ме | 状态 | Train | From | Platform | Arrives | Status | From | Arrives | Platform | Status | Train ...

Core Viewpoint The 2026 comprehensive transportation Spring Festival travel period will run from February 2 to March 13, lasting 40 days. The Ministry of Transport, along with several other government departments, has issued a comprehensive safety production and service guarantee plan to ensure a safe and efficient travel experience during this peak period. Group 1: Overall Strategy - The plan is guided by Xi Jinping's thought and aims to ensure a "safe, convenient, and warm" Spring Festival travel experience, focusing on risk prevention, major hazard identification, and the implementation of thirty hard measures during the holiday [2] - The strategy emphasizes the importance of enhancing transportation organization, travel services, and public guidance to support economic development and ensure a peaceful holiday for the public [2] Group 2: Spring Festival Travel Characteristics - The 2026 Spring Festival travel period is expected to see a historic high in cross-regional population movement, posing significant challenges for public travel services [3] - The extended holiday period will increase public travel willingness, leading to greater challenges in managing large passenger flows [3] - The rise in self-driving trips, particularly with new energy vehicles, will demand higher standards for road network maintenance and charging service guarantees [3] - The overlap of the return peak with the national "Two Sessions" will concentrate passenger flows in key routes [3] - Adverse weather conditions, such as low temperatures and snow, will increase operational pressure on transportation safety and emergency response [3] Group 3: Major Risk Prevention and Control - Strict measures will be implemented to address extreme weather conditions, including proactive defense strategies and close collaboration with meteorological and public security departments [4] - Enhanced charging service guarantees for new energy vehicles will be established, including the creation of busy service area lists and tailored charging plans [4] - Traffic congestion management will be prioritized, with specific strategies developed for busy highway sections [5] - Large passenger flow management will be strengthened, particularly in urban areas and key transport corridors [5] - Safety management of transportation equipment will be reinforced, ensuring all vehicles are well-maintained before the travel period [5] Group 4: Risk Hazard Identification and Rectification - Responsibilities for risk identification and rectification will be clearly defined among transportation enterprises and regulatory bodies [7] - Comprehensive risk assessments will be conducted, focusing on major hazards and previous issues identified during inspections [8] - A dynamic approach to addressing identified hazards will be implemented, ensuring timely rectification and expert guidance for effective risk management [8] Group 5: Control of Major Hazards During the Holiday - A dynamic list of major hazards will be maintained and updated regularly, ensuring timely adjustments before the holiday [9] - Daily inspections will be mandated for key transportation enterprises to ensure compliance and immediate issue resolution [9] - Certain high-risk operations will be suspended during the holiday period to prevent accidents [9] Group 6: Comprehensive Transportation Organization - Enhanced coordination of transportation capacity across various modes will be prioritized to improve service efficiency [10] - Real-time monitoring of passenger flow at key hubs will be implemented to optimize transport services [10] - The level of service for small and micro rental vehicles will be improved, expanding service networks and offering convenient options for travelers [10] Group 7: Warm Service Initiatives - The "Warm Journey" initiative will promote high service standards among transportation enterprises, enhancing traveler experience [12] - Special attention will be given to vulnerable groups, ensuring their needs are met during travel [12] - Support for frontline workers in the transportation sector will be emphasized, providing assistance and recognition for their efforts during the busy period [12] Group 8: Travel Information and Guidance - A multi-channel approach will be adopted to disseminate travel information, including weather alerts and traffic updates [13] - Efforts will be made to create a positive travel atmosphere through media engagement and storytelling [13] - Channels for public feedback and complaints will be strengthened to address traveler concerns effectively [13]

京沪高铁 20260120 摘要 京沪高铁四季度客流量表现出色，业绩超预期，预计未来将保持良好增 长态势，其稳健的增长态势在当前经济环境下尤为突出，为长线资金提 供了较强的投资确定性。 京沪高铁采用委托运输管理模式，通过收取跨线列车"过路费"获得主 要收入，类似于永续高速公路的商业模式，确保了公司收入的稳定性和 持续性。 高铁票价上涨对京沪高铁盈利具有双重影响：直接提升本线列车收入， 间接鼓励铁路局增加跨线列车，从而通过量价齐升进一步提高公司整体 业绩。 京沪高铁通过优化结构，提升本线服务品质，增加跨线班次，有效应对 市场需求波动，确保整体业绩稳定增长，展现出高度确定性的资产属性。 预计 2026 年京沪高铁业绩将持续增长，受益于京沪本线和京福安徽公 司车流密度增加，以及雄商高铁通车带来的北京至深圳等大通道的全面 打通。 Q&A 京沪高铁目前的投资价值如何？ 目前京沪高铁的股价持续下跌，正是一个较好的买入时机。首先，从商业模式 来看，京沪高铁具有高度确定性和强劲的现金流，公司盈利持续增长，但估值 水平却因股价下跌而变得更为便宜。三季度业绩超预期，四季度铁路客流量表 现出色，预计业绩将继续保持良好表现。长期来看 ...

Group 1 - The railway and highway sector increased by 1.47% on January 20, with Shandong Expressway leading the gains [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] - Key stocks in the railway and highway sector showed various performance, with Shandong Expressway closing at 10.18, up 3.98%, and Guangdong Expressway A at 11.73, up 2.53% [1] Group 2 - The railway and highway sector saw a net inflow of 72.14 million yuan from main funds, while retail funds had a net inflow of 20.25 million yuan [2] - Major stocks like Beijing-Shanghai High-Speed Railway experienced a significant net outflow of 761 million yuan from speculative funds [3] - Shandong Expressway had a net inflow of 6.83 million yuan from main funds, indicating a mixed sentiment among investors [3]

南京、徐州、连云港、宿迁、扬州、镇江等地车站针对因降雪天气导致的部分旅客列车晚点，在雷锋服务台增设工作人员，帮助旅客办理改签、退票手 续，为候车旅客提供口罩、暖宝宝、充电器、老花镜等常备物品，做好重点旅客帮扶、信息咨询。同时，各车站积极协调地方交通运力，做好公交车、出 租车、大巴车等汽运调配，方便旅客换乘。南京客运段组织在途职工在列车门口扫雪，铺垫硬纸板，对老幼病残孕和行动不便的旅客及时提供帮助，让旅 客感受车外冰天雪地、车内暖意融融的温情旅途。 北沟东站位于徐州新沂市，是新长铁路上的一个四等小站。20日凌晨2点，雪花漫天飞舞，气温低至零下7度。新长工务段北沟东线路维修工区工长赵明带 领6名职工，携带除雪工具对车站岔区扫雪除冰。道岔转辙部位关键接触面极易结冰夹雪，赵明俯身仔细检查道岔装置缝隙，先用扫帚清理表面积雪，对 不易清理的部位，他摘掉厚手套徒手作业，指尖很快冻得通红。待车站南北两端6组道岔的积雪积冰被彻底清除，赵明和工友们已经在风雪中坚守了3个多 小时。 闻雪而动，向雪而行。南京、徐州供电段组织干部职工顶风冒雪巡视跨越线路、变配电所、电缆路径等关键设备设施，对信号专用发电机进行启机试验和 状态确认，确保 ...

铁路部门提醒，具体列车开行信息，请关注车站公告或致电铁路12306客服热线查询，以便妥善安排行程。凡购买相关停运列车车票的旅客，可自列车停 运信息公布时起至车票乘车日期后30日以内在12306网站（含手机App）办理退票手续，或持购票时所使用的有效身份证件原件到车站退票，以上均不收 取退票费。 1月20日，南京城银装素裹，雪景美丽但也困扰着人们的出行。根据气象预报，受寒潮天气持续影响，1月19日夜至1月20日夜，河南南部、安徽中北部等 地有大雪，其中，安徽西南部等地部分地区有暴雪，安徽南部等地部分地区有冻雨或冰粒。为确保列车运行安全和旅客出行安全，铁路部门根据雨雪天气 影响范围，计划对1月20日11时至20日24时途经京沪高铁（601816）、连镇高铁、宁杭高铁等线路部分旅客列车，采取临时停运措施。 下一步，铁路部门将密切关注天气情况，适时采取限速、停运、加开、恢复开行等措施，动态调整列车开行方案，保障旅客安全出行需要。 需要提醒旅客的是，当天乘机出行要及时关注航班动态、出发地和目的地天气变化等，以免耽误出行。 受天气影响，南京禄口国际机场出现航班延误情况。新华日报·交汇点记者从南京禄口国际机场获悉，当日计划 ...