上 市 公 司 交通运输 2026 年 02 月 25 日 安徽皖通高速公路 (00995) ——长三角一体化赋能流量增长，外延并购持续扩张 投资要点： | 单位：百万元，人民币 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入 | 6,631 | 7,092 | 7,147 | 7,228 | 7,267 | | 收入增长率（%） | 27.4 | 6.9 | 0.8 | 1.1 | 0.5 | | 归属普通股东净利润 | 1,658 | 1,671 | 1,955 | 2,002 | 2,119 | | 归属普通股东净利润增 | 14.7 | 0.8 | 17.0 | 2.4 | 5.8 | | 长率（%） | | | | | | | 每股收益（元/股） | 1.00 | 1.01 | 1.14 | 1.17 | 1.24 | | 毛利率（%） | 39.1 | 34.1 | 37.9 | 38.1 | 39.4 | | ROE（%） | 13.1 | 12.5 | 14.6 | 1 ...

Core Viewpoint - The article discusses the competitive landscape of Chinese cities, highlighting the rapid urbanization and the emergence of new economic centers, while ranking the development potential of 337 cities in China, with Beijing, Shanghai, Shenzhen, and others leading the list [2]. Group 1: Beijing - Beijing is positioned as the political, cultural, international exchange, and technological innovation center of China, with a GDP exceeding 4.1 trillion yuan in 2022, making it the second-largest city after Shanghai [9][10]. - The service sector accounts for 84% of Beijing's economy, with finance, headquarters economy, and technological innovation as key pillars [10]. - Future plans include transforming Beijing into a world-class harmonious city while optimizing population distribution to enhance urban vitality [11][13]. Group 2: Shanghai - Shanghai has established itself as an international economic center, with a GDP of approximately 4.5 trillion yuan in 2022, and aims to rival New York in global economic influence [16][24]. - The city’s industrial structure is supported by the automotive, electronics, and financial sectors, with finance contributing 19.3% to the GDP [17][19]. - Shanghai plans to continue its open policies and develop into a globally competitive city, enhancing the Yangtze River Delta region [24]. Group 3: Shenzhen - Shenzhen's GDP surpassed 3.2 trillion yuan in 2022, marking it as the third-largest city in China, with a significant annual population increase of around 600,000 [25][26]. - The city is recognized as a leading innovation hub, with strategic emerging industries accounting for over 41% of its GDP [26]. - Future initiatives focus on enhancing collaboration within the Guangdong-Hong Kong-Macau Greater Bay Area to solidify its status as a global innovation city [29]. Group 4: Guangzhou - Guangzhou's GDP reached approximately 2.9 trillion yuan in 2022, ranking fifth nationally, with a strong manufacturing base in automotive and electronics [30][31]. - The city faces challenges in innovation capacity and financial sector development, with financial services contributing only 9.2% to the GDP [33]. - Future goals include enhancing its role as a national center city and participating in global economic cooperation [34]. Group 5: Hangzhou - Hangzhou's economy has shown robust growth, with a GDP of around 1.9 trillion yuan in 2022, driven by a vibrant private and digital economy [36][37]. - The city is recognized for its strong digital economy, with core digital industries contributing 27.1% to the GDP [37]. - Plans for the future include improving transportation infrastructure and fostering a more open and innovative business environment [41][42]. Group 6: Chengdu - Chengdu's GDP exceeded 2 trillion yuan in 2022, accounting for 36.7% of Sichuan province's economy, and it is recognized as a key economic hub in Western China [43][44]. - The electronics sector is a major contributor, with a significant portion of the industrial output [44]. - Future strategies involve enhancing its role as a national center city and collaborating with Chongqing to develop the Western economic highland [49]. Group 7: Nanjing - Nanjing's GDP approached 1.7 trillion yuan in 2022, with a per capita GDP of 179,000 yuan, ranking fifth among major cities [50][51]. - The city is focusing on developing its automotive, steel, electronics, and petrochemical industries while nurturing emerging sectors [51]. - Future aspirations include becoming an "innovation city" and enhancing its influence in the Yangtze River Delta region [54]. Group 8: Suzhou - Suzhou's GDP reached nearly 2.4 trillion yuan in 2022, making it the top city among prefecture-level cities in China [56]. - The city is recognized as a global industrial powerhouse, with significant contributions from electronics and manufacturing sectors [56]. - Future plans emphasize its role in the Yangtze River Delta urban cluster and advancing towards a high-tech manufacturing base [59].

范波说，2026年是"十五五"开局之年。要始终紧跟核心，筑牢忠诚之魂，推动党中央决策部署及省委、省政 府工作要求一贯到底，坚定拥护"两个确立"、坚决做到"两个维护"。要坚持勇挑大梁，扛牢发展之责，打好促消 费、扩投资、稳外贸组合拳，巩固拓展稳中向好势头。要强化创新驱动，提升转型之效，推动科技创新和产业创 新深度融合，大力发展"AI+制造"，加快布局未来产业，高质量创建国家新型工业化示范区。要积极探路先行， 激发改革之力，服务融入长三角一体化等国家战略，推进沪苏（州）同城化发展和一体化示范区建设，深入开展 服务企业、服务项目、服务园区和基层"三服务"专项行动，构建一流营商环境。要心系群众冷暖，夯实民生之 基，优化公共服务供给，做好困难群众救助帮扶，推动城乡融合发展，加强太湖、长江、大运河生态治理，强化 历史文化保护传承，大力发展文旅产业，打造宜居宜业的国际化现代化人民城市。要突出党建引领，落实全面从 严治党要求，加强正确政绩观教育，抓好巡视反馈问题整改，传承弘扬和发展苏州"三大法宝"，营造在遵规守纪 前提下大胆闯、大胆干的浓厚氛围。 范波最后说，让我们更加紧密团结在以习近平同志为核心的党中央周围，以一马当先之志 ...

证券日报网讯 2月13日，长江投资（600119）在互动平台回答投资者提问时表示，公司收购和合公司， 主要基于融入长三角一体化示范区、推动业务协同并提升抗风险能力等综合考虑；通过本次股权收购， 长江投资可获得在长三角区域的业务平台，切入园区服务核心赛道，将战略规划转化为实体业务，并借 助和合公司的园区运营能力和属地服务经验承接长三角投资公司所属园区配套服务需求。有关事项以公 司披露的公告为准。 ...

作为我国国际金融中心的核心承载地，上海全球资管中心建设正从"规模集聚"向"功能辐射"升级。依托 长三角一体化战略，上海联动苏浙皖破解区域壁垒，在机构集聚、业务创新等方面成果显著，但制度协 同碎片化、资产资本匹配失衡等挑战仍存，如何以"一盘棋"思维破局，是迈向全球一流资管中心的关 键。 三、市场联动：资源配置效率提升 区域互补优势彰显 以上海为核心，长三角形成"上海聚焦跨境配置、苏浙皖强化资产供给"的梯度生态，资产资本对接效率 持续提升。 上海作为跨境资本配置枢纽，2025年熊猫债市场设立二十周年之际，全年经协会注册发行的熊猫债规模 达1633.1亿元，同比增长15.6%，创下新高。截至2025年年末，熊猫债存续规模已达3187.8亿元，同比 增长37%。贝莱德等外资机构通过上海QDLP额度，精准投资长三角优质产业项目，实现全球资本与区 域产业的高效对接。 同时，各省市与上海实现高效联动，浙江富浙资产以"资产证券化+运营"模式，成功盘活上海及长三角 多地资产；杭州依托金融科技优势，蚂蚁财富与上海公募基金合作的智能投顾产品，服务海量长三角投 资者；苏州、无锡凭借完备的制造业体系，成为上海资管机构产业投资的核心标的 ...

江苏创投生态持续升温！ 江苏创投生态持续升温 近期，江苏创投按下快进键、跑出加速度。 2月11日，江苏省战略性新兴产业母基金（以下简称"江苏省战新母基金"）2026年第一批产业专项基金 签约仪式在江苏南京举行。上证报记者获悉，现场签约的产业专项基金共5只，总规模达691亿元。 5只基金签约总规模达691亿元 在本次签约的5只基金中，长三角创业投资引导基金规模最大，达551亿元。据介绍，该基金为国家创业 投资引导基金首批设立的3只区域基金之一。该基金的设立，将有力撬动更多优质资本与创新资源向江 苏集聚，服务长三角一体化高质量发展，助力全省战略性新兴产业和未来产业做大做强。 目标规模100亿元的江苏省增资扩产战新产业高质量发展基金、规模10亿元的江苏省新能源（国信）产 业专项基金则为两只江苏省属企业产业专项基金。前者由江苏省高投集团发起，重点投向生物医药、新 能源、集成电路、人工智能、机器人、低空经济、新型电力、航空航天等领域；后者由江苏省国信集团 发起，聚焦新能源及其协同产业领域。 规模10亿元的设区市产业专项母基金——江苏连云港安防产业专项母基金，由连云港金控集团发起，专 注于安防全产业链，投资方向涵盖高端装 ...

Core Insights - The Shanghai Midea Global Innovation Park has recently opened in Qingpu District, symbolizing the area's commitment to enhancing technological innovation capabilities and contributing to the integrated development of the Yangtze River Delta [1][2] - Qingpu District aims to establish itself as a core hub for innovation in the Yangtze River Delta, leveraging its strategic location and fostering collaboration between various sectors [2][3] Economic Development - Qingpu District's GDP is projected to reach 182.5 billion yuan in 2024, which is 1.5 times that of the end of the 13th Five-Year Plan [1] - The district is focusing on the "3+3+3" industrial layout, which includes three trillion-yuan industrial clusters in high-end equipment manufacturing, new-generation information technology, and modern logistics [4] Innovation and Technology - The district has seen a significant increase in strategic emerging industries, which now account for 37.2% of the economy, up nearly 12.5 percentage points from the end of the 13th Five-Year Plan [3] - Major companies like Midea and Huawei are playing crucial roles in driving innovation within Qingpu, with Midea's medical robotics and Huawei's AI innovation center being notable examples [3][6] Talent and Infrastructure - The Shanghai Midea Global Innovation Park is designed to accommodate 8,000 to 10,000 high-end R&D talents, focusing on nine key research areas including industrial internet and smart manufacturing [7] - Qingpu District is enhancing its innovation ecosystem by establishing national-level innovation platforms and incubators, which support various high-tech sectors [6][5]

Core Viewpoint - The report emphasizes "integration" as a key theme for the development of Linping District, aiming to establish itself as a hub for deep integration with Shanghai and a model for industry-city integration by 2025 [3][4]. Economic Goals - By 2025, Linping aims to achieve a regional GDP of 121.63 billion yuan, representing a growth of 5.1%. The district also targets a total fiscal revenue of 25.42 billion yuan and a general public budget revenue of 14.63 billion yuan, showcasing the benefits of integration [3]. Infrastructure Development - Significant transportation projects, including the Shanghai-Hangzhou high-speed railway and the fourth phase of Hangzhou Metro, are set to enhance Linping's status as a transportation hub during the 14th Five-Year Plan period [4]. Industry-City Integration - Linping plans to advance its "industry-city integration demonstration zone" by 2026, with a focus on developing three new industry vertical models and targeting an AI industry revenue of 11 billion yuan. The district aims to establish one national-level intelligent factory and one provincial-level future factory pilot enterprise [4][5]. Talent and Human Resources - A new initiative will be launched in 2026 to support the integration of education, science, and talent, including an innovative "AI+OPC" entrepreneurship support model aimed at energizing the local workforce [5]. Rural Development - Linping will deepen urban-rural integration by extending quality public services and promoting rural industry revitalization. Plans include the construction of 19 school projects and various healthcare facilities, as well as initiatives to attract young talent back to rural areas [5].

作为长三角一体化发展的核心引擎，上海大都市圈的内部联动效率直接决定长三角整体发展的"航速"， 其协同效能始终备受各界瞩目。2月10日，随着《上海大都市圈国土空间规划（2025-2035年）》草案 （以下简称"规划草案"）公示，上海大都市圈一体化治理有望向更深层次推进。 扩容逻辑：以解决跨省域协同发展问题为导向 回溯上海大都市圈的演进历程，其发展格局经历了多个时期。早在2016年，《上海市城市总体规划 （2016-2040）》草案发布，文件提出以上海为核心，联动苏州、无锡、南通、宁波、嘉兴、舟山等六 座城市构建90分钟交通出行圈。 2019年，上海大都市圈规划从"地方探索"转向"国家战略"——《长江三角洲区域一体化发展规划纲要》 印发，明确提出"推动上海与近沪区域及苏锡常都市圈联动发展，构建上海大都市圈"。基于此，2022年 全国首个跨省域国土空间规划《上海大都市圈空间协同规划》出炉，本轮规划将上海大都市圈的规划范 围确定为上海以及周边苏州、无锡、常州、南通、嘉兴、湖州、宁波、舟山在内的"1+8"城市市域行政 范围。 2026年，《上海大都市圈国土空间规划（2025-2035年）》草案公示，将上海大都市圈由"1 ...

Group 1 - The Hefei Municipal Federation of Industry and Commerce plays a crucial role in promoting the healthy growth of private economy by enhancing ideological and political guidance, offering education classes for private entrepreneurs, and organizing study tours at educational bases [1] - The Federation has established a regular communication channel between the government and private enterprises, conducting research on policies and improving the business environment through evaluations and surveys [1][2] - The Federation encourages private enterprises to actively participate in rural revitalization efforts and contribute to common prosperity, promoting initiatives like "Ten Thousand Enterprises Support Ten Thousand Villages" [2] Group 2 - The Federation collaborates with financial institutions to create a regular service platform for enterprises, improving the mechanism for financing needs and promoting financial service models [2] - It emphasizes legal education for entrepreneurs through quarterly lectures and legal outreach activities, enhancing the capacity of mediation organizations to resolve disputes [2] - The Federation is advancing the reform and development of its own organization and affiliated chambers, focusing on establishing party organizations and conducting activities to strengthen party leadership within these chambers [3]