智通财经6月24日电，据了解，2025中国产业转移发展对接活动（广西）将于今年7月19日至20日举办。 数据显示，2023年以来，工业和信息化部、广西壮族自治区政府已连续两年举办中国产业转移发展对接 活动，两年共签约项目716个、签约额6966亿元，目前已有505个项目履约落地，361个项目开工建设， 127个项目竣工投产。 广西多措并举大力承接产业转移 ...

Group 1: Xunluo Electronics (顺络电子) - The company has a full order book and high capacity utilization in Q2 [1] - The automotive electronics business covers electrification and intelligent scenarios, with a broad product line and good development prospects [1] - The data center business shows significant sales growth, providing various products and solutions [1] - Increased demand for power inductors from AI smartphones enhances the value of individual components [1] - The company has a rich variety of integrated inductors with wide applications and a promising market outlook [1] - The industry has high barriers to entry, positioning the company as a leading player with multiple core advantages [1] - The company is continuously expanding production and investing in R&D, with no immediate financing plans [1] Group 2: San Aifu (三爱富) - The company primarily engages in the R&D, production, and sales of fluorinated chemicals, with a projected net profit of 275 million yuan in 2024 [2] - Growth is driven by an increase in product volume, with some production lines at the Shaowu base gradually starting operations [2] - Future growth will come from existing products, industrial transfer, and domestic substitution [2] - The company's products are widely used in downstream industries such as new energy, electronics, and aerospace, with some products holding leading market shares [2] - The expiration of refrigerant patents will lead to new production lines and processes being developed [2] - The PVDF market is expected to have sufficient supply in the coming years, with the company having advantages in the supply chain and cost [2] - The company has a diverse range of customized polymer products, with stable overall performance [2] - The company is actively seeking new applications and markets for existing products while developing new ones [2] - A valuation enhancement plan for 2025 has been established, with a focus on cash dividends to enhance investor returns [2] - The company plans to distribute a cash dividend of 0.18 yuan per share, increasing the cash dividend ratio to 41.96% [2] - The company is monitoring regulatory trends regarding B-shares and responding to market feedback [2]

3200亿凿穿南岭：中国用一条运河，改写全球资源战争规则 当法国媒体惊呼"中国正在用运河锁死稀土供应链"时，很少有人意识到，这场改变世界地缘格局的博弈，竟始于江西群山中一段看似普通的航 道。 一、3200亿砸出的"水上京广线"：为何说这是21世纪最狠的阳谋？ 浙赣粤运河的蓝图一摆上桌面，全球战略家的眼镜碎了一地——这条总投资超3200亿元、全长1237公里的"人工水脉"，竟要硬生生在武夷山和 南岭的岩层中凿出一条通道，把长江与珠江两大水系"焊接"成一体。 表面看，这是中国又一次"基建狂魔"的常规操作，但细究其逻辑，堪称阳谋中的阳谋： 二、越南偷师、欧美破防：一条运河如何戳中西方痛点？ 运河工程中最魔幻的场景，莫过于中国工程师在武夷山腹地玩出的"隧道通航"黑科技——直接在山体中凿出航道，航程缩短15%，全球运河史上 从未有过如此疯狂的尝试。30多座智能船闸配合生态护坡，连鱼类的洄游通道都考虑周全，越南专家组专程跑来取经，湄公河上跃跃欲试要复 制"中国方案"。 但真正让西方破防的，是运河背后的资源控制逻辑。江西地下埋着全球19%的铜矿和23%的稀土，这些新能源产业的"命根子"，过去因运输成本 高企被迫贱卖。如今运 ...

上 市 公 司 交通运输 2025 年 06 月 10 日 德翔海运 (02510) ——大亚洲区域领先玩家，兼具周期和成长 报告原因：首次覆盖 买入（首次评级） | 市场数据： | 2025 年 06 月 10 日 | | --- | --- | | 收盘价（港币） | 7.52 | | 恒生中国企业指数 | 8780.13 | | 52 周最高/最低（港币） | 8.00/3.80 | | H 股市值（亿港币） | 119.22 | | 流通 H 股（百万股） | 1,665.03 | | 汇率（人民币/港币） | 1.0925 | 一年内股价与基准指数对比走势： -7% 193% HSCEI 德翔海运 资料来源：Bloomberg 相关研究 ⚫ 风险关注：全球宏观经济衰退；关税政策升级；红海复航；新造船订单大量释放 财务数据及盈利预测 | | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万美元） | 875 | 1,340 | 1351 | 1299 | 1539 | | 同比增长 ...

新华财经呼和浩特6月10日电（记者蔡博腾）6月10日，在呼和浩特市举办的2025中国产业转移发展对接 活动（内蒙古）开幕式上，国家工业信息安全发展研究中心主任蒋艳发表主旨演讲时指出，我国产业转 移呈现以下特点：产业梯度转移有力促进区域协同发展；资本、技术密集型产业转移态势凸显；智能 化、绿色化为产业国内转移注入新动能。中西部地区承接产业类型正由劳动密集型转向资本、技术密集 型。产业转移有效拉动产业升级和价值链攀升。西部地区承接钢铁、有色、石化、食品加工及新能源等 产业转移态势明显。动力电池、智能算力、绿电铝等值得关注。 蒋艳认为，随着全球产业转移持续演进，产业国际转移和国内转移交织进行、深化发展，推动产业国内 转移的战略性、紧迫性更加突出。新的形势变化也为中西部地区抢抓战略机遇、承接优势特色产业转移 创造新条件。应深刻认识推动产业转移的重要性和紧迫性。推动产业转移，事关产业链供应链韧性和安 全水平提升，事关现代化产业体系建设，事关新发展格局构建，是当前和今后一段时期的重要任务。 关于内蒙古的产业转移发展对接，蒋艳指出，内蒙古把握战略机遇，发挥特色优势，可加快形成产业转 移发展新局面，在承担自身战略使命中赢得发 ...

Core Viewpoint - Inner Mongolia is positioning itself as a new highland for industrial transfer, leveraging its vast resources and innovative technologies to drive economic transformation and sustainable development [1][2]. Group 1: Energy Transition and Innovation - The "Liquid Sunshine" project by China Coal Inner Mongolia Energy Chemical Co. is the first fully self-owned intellectual property project in the country, aiming to produce 21,000 tons of green hydrogen and 100,000 tons of methanol annually, significantly reducing coal consumption and CO2 emissions [2]. - Inner Mongolia has a technical exploitable capacity of 1.46 billion kilowatts for wind energy and 940 million kilowatts for solar energy, accounting for 57% and 21% of the national total, respectively [3]. - As of April, Inner Mongolia's total installed capacity for renewable energy reached 138 million kilowatts, a 37% year-on-year increase, making it the first province in China where renewable energy accounts for over 50% of total installed capacity [3]. Group 2: Traditional Industry Transformation - Inner Mongolia's coal industry is evolving from a resource-dependent model to an innovation-driven approach, with projects converting coal into high-performance materials and fine chemical products [4]. - The region's agricultural and livestock product processing rate has reached over 73%, with significant advancements in the value-added processing of sheep tail oil, which can increase the value from 18 yuan to 1,500-2,000 yuan per tail [6][5]. - In 2024, the agricultural and livestock product processing industry in Inner Mongolia is expected to achieve an output value of approximately 350 billion yuan, with leading companies like Yili and Mengniu ranking among the top ten dairy enterprises globally [7]. Group 3: Digital Economy and Future Industries - Inner Mongolia is establishing a digital economy through cloud computing and supercomputing, with the Oriental Supercomputing Cloud providing 20 million trillion calculations per second to support over 300 institutions nationwide [9]. - The region is developing a low-altitude economy, focusing on drone manufacturing and related services, as outlined in the 2024-2027 development plan [9]. - The Beidou application industry park is showcasing various new products and technologies, with companies like Tianqi Xinglian Technology leading in satellite applications for renewable energy, tapping into a market worth hundreds of billions [10].

作 者丨程浩 编 辑丨于长洹 近期发布的《2025中国镇域经济高质量发展研究》，对除直辖市和港澳台地区外的全国2万多 个建制镇进行综合评价，形成"2025镇域经济500强"。 南方财经记者梳理发现，跻身全国500强的建制镇来自全国的21个省份， 入围镇主要集中在经 济发达的省份，其中入围数量位居前三的省份分别为江苏（128席）、广东（102席）、浙江 （82席），江苏、广东、浙江三地入围数量占比达62.4% 。 此次广东有102镇上榜，占比达20.4%，相较于2024年的98席和2023年的81席，连续数年增 长。 排名前10的镇中，广东占据了七席 。 华南城市研究会会长、暨南大学教授胡刚在接受南方财经记者采访时表示，当前 广东镇域经济发展仍面临腰部"断档"、区域发展不平衡等诸多问题。广东镇域经 济到了打破空间限制、结束单打独斗的时刻，随着广东百县千镇万村高质量发展 工程（简称"百千万工程"）的深入推进，在政策、资金、人才等资源的倾斜下， 要以网络化思维重构"镇域经济"，将有限的资源集中在具有潜力和比较优势的领 域，集中力量培育打造一批不同类型的经济强镇、特色产业强镇，进一步激发广 东镇域经济活力。 苏粤浙领 ...

Summary of Jinjiang Shipping Conference Call Company Overview - **Company**: Jinjiang Shipping - **Year**: 2024 - **Revenue**: 0.21 billion RMB, up 37.45% YoY - **Total Assets**: 103.57 billion RMB - **Net Assets**: 86.18 billion RMB - **Market Position**: Maintains the first market share in the Shanghai-Japan route and is actively expanding Southeast Asia routes [2][3][5] Key Points and Arguments Industry Dynamics - **Asian Shipping Market**: Benefiting from a recovery, with significant growth in trade volumes, particularly in the Northeast Asia and Southeast Asia routes [2][3][5] - **Trade Values**: - China-Japan trade value reached 2.19 trillion RMB - Cross-strait trade value reached 2.08 trillion RMB - China-ASEAN trade value reached 6.99 trillion RMB, up 9% YoY [5][19] Financial Performance - **Container Volume**: 2.3934 million TEUs in 2024, with revenue of 5.97 billion RMB, up 13.36% YoY [3] - **Net Profit**: 1.021 billion RMB, up 37.45% YoY [3] - **Dividend Policy**: Total dividend of 5.15 RMB, accounting for 50.46% of net profit [4][26] Strategic Initiatives - **"One Main Two Wings" Strategy**: Extending logistics services to both ends, providing customized comprehensive logistics solutions [2][6] - **New Routes**: Launched new routes in India, Pakistan, and the Middle East, enhancing service capabilities [7][19] - **Southeast Asia Expansion**: New smart logistics products reducing transit times significantly, enhancing brand competitiveness [7][10] Market Trends - **Southeast Asia Market**: Expected to see a price increase trend from 2025 onwards, with significant growth in container shipping demand [12][19] - **Cargo Structure Changes**: Shift from low-end to high-end products, particularly in electronics, necessitating faster delivery services [16][18] Operational Efficiency - **Fleet Expansion**: Investment in new vessels, including three 1,900 TEU ships and two 1,100 TEU ships for enhanced service [22][23] - **Operational Strategy**: Maintaining a 50% leasing ratio while increasing owned fleet to improve cost control and service efficiency [24] Shareholder Returns - **Focus on Returns**: Commitment to maintaining a minimum of 50% dividend payout ratio while balancing capital expenditures [25][26] Future Outlook - **Market Growth**: Positive expectations for cargo growth in Southeast Asia, with a focus on maintaining operational stability and exploring new opportunities [27] Additional Important Insights - **Impact of Tariff Policies**: Long-term trends suggest increased freight volumes in Southeast Asia due to ongoing shifts in manufacturing and trade patterns [19][20] - **Integration of Services**: Efforts to integrate services between Japan and Southeast Asia to meet high delivery time demands [21]

证 券 研 究 报 告 战略引领，挖掘区域投资弹性 2025年建筑装饰中期投资策略 证券分析师：袁豪 A0230520120001 唐猛 A0230523080003 研究支持： 唐猛 A0230523080003 联系人： 唐猛 A0230523080003 2025.6.4 要点：战略引领，挖掘区域投资弹性 www.swsresearch.com 证券研究报告 2 ◼ 年初至今固定资产投资增速放缓，制造业、地产均呈现压力，总量偏弱背景下，基建投资保 持相对稳定，公用事业、水利形成支撑。 ◼ 区域投资有望随国家战略布局而获得弹性。2025年作为"十四五"收官、"十五五"谋划 之年，承上启下作用凸显，结合当前市场经济环境，中西部产业转移、西部大开发、城市更 新、低空经济、"一带一路"倡议等均有望在"十五五"期间迈入新的发展阶段。 ◼ 低估值破净央国企估值修复。建筑企业资产主要为应收账款类，长期现金流和资产可变现能 力遭遇质疑，市场估值折价，近两年国资委强调央企资产质量考核，聚焦价值创造能力，企 业端收入、利润承压背景下依旧保持分红政策稳定。展望未来，随着证监会市值管理办法、 公募新规等政策出台，同时企业经营受 ...

沈董特别向与会企业家推介四川独特优势：天然气产量、水电装机容量及多种矿产资源全国第一，辐射 超4亿人口的西部市场，并依托长江水运、陆海新通道、中欧班列构建起通达国内外的多式联运网络。 他诚挚邀请各界伙伴把握浙川协作深化机遇，共赴四川投资兴业。 未来，正凯集团将进一步响应国家产业转移战略，抢抓四川建设国家战略备份产业基地的历史机遇，为 四川打造万亿级能源化工产业，推动创新发展和强链补链，并肩创造新时代浙商投资四川新典范。 沈董在发言中回顾了正凯集团响应国家东西部协作战略、积极布局四川的历程。2021年6月，正凯在"浙 江·四川深化东西部协作和交流会议"上与四川省政府签署框架协议，迈出了浙川产业协作的关键一步。 经深入考察，集团基于达州市坚实的工业基础、富足的天然气资源及高度契合的产业生态，在浙江四川 两省共同推动下，于同年11月30日正式签约落地达州宣汉县。 达州先进智造产业园项目规划总投资230亿元，以天然气为核心原料，致力于弥补西南地区PET新材 料、新能源产业链短板。目前，已高效完成项目一期投资及建设调试，成为全球规模最大的天然气制乙 二醇单体项目。项目的高效推进得益于四川省、市、县各级的高位推动和专班全 ...