Group 1 - The fourth Global Digital Trade Expo will be held in Hangzhou on September 25, 2025, co-hosted by the Zhejiang Provincial Government and the Ministry of Commerce [1] - The expo is recognized as China's only national-level international professional exhibition in the digital trade sector, achieving intention orders worth billions each session [1] - Notable participating companies include Dun & Bradstreet, Yokogawa Electric, Ant Group, China Agricultural Bank, Amazon, GE Healthcare, and AstraZeneca [1] Group 2 - The theme for this year's expo is "Digital Trade Connects the World," featuring three main components: exhibition displays, major activities, and an online platform [2] - The expo will include one main digital trade pavilion and five specialized industry pavilions, showcasing future industries and the latest achievements in digital trade and technology [2] - A variety of activities will take place during the expo, including themed events such as the BRICS Special Economic Zone Cooperation, Silk Road E-commerce Day, and Africa Day [2] Group 3 - The expo will highlight cutting-edge technologies such as production AI and multimodal sensory interaction, setting a new benchmark for national-level exhibition themes [3] - The event has successfully promoted the reform and innovation of digital trade in Hangzhou, establishing the city as a stronghold for digital trade [3] - Future plans include aligning with top exhibitions like CES to enhance global outreach and foster partnerships in digital trade [3]

Core Insights - Jiangsu Province's e-commerce companies are ramping up efforts to capture the last consumer surge as the "6.18" mid-year shopping festival approaches, supported by government subsidies, efficient smart logistics, and the ongoing popularity of live-streaming sales [1][7]. Group 1: Government Support and Consumer Incentives - The combination of government subsidies and manufacturer discounts has emerged as the highlight of this year's promotional season, with a notable increase in the availability of consumer vouchers [3][7]. - The "trade-in" national subsidy policy has shown significant results, with 20% of the consumer voucher subsidy becoming increasingly scarce, prompting companies to assist consumers in securing these vouchers [3][7]. - For instance, a Konka wallpaper TV originally priced at 7000 yuan is being offered at a 30% discount compared to market price due to additional manufacturer discounts on top of the national subsidy [3]. Group 2: Smart Logistics and Supply Chain Optimization - The smart logistics system is providing robust support for e-commerce promotions, with companies like Yongchang Paper utilizing automated equipment for efficient sorting in their 6000 square meter intelligent warehouse [5]. - By optimizing the supply chain and participating in platform-wide subsidy initiatives, companies expect a 30% increase in sales during the "6.18" event [5]. - A total of 32 e-commerce platform stores have been stocked with goods, utilizing vertical shelving for precise inventory management [5]. Group 3: Market Strategies and Long-term Development - E-commerce has been identified as a key driver for expanding domestic demand and promoting consumption, with initiatives like the "5.18 Online Shopping Season" set to stimulate the market [7]. - The introduction of the "Bailu Mountain Cup Live Streaming Entrepreneurship Competition" aims to cultivate new live-streaming hosts across seven sectors, including home appliances and health products [7]. - Local companies are employing three main strategies to engage deeply in the promotional event: leveraging dual subsidies from government and manufacturers, reducing logistics costs through smart warehousing, and expanding market reach via new channels like live streaming [7].

Core Insights - The Fourth Global Digital Trade Expo (Digital Trade Expo) is set to take place in Hangzhou on September 25, with a theme of "Digital Trade, Connecting the World" [1] - The expo aims to achieve a scale of intention orders reaching billions, similar to previous years [1] - The event will feature three main components: exhibition displays, thematic activities, and an online digital trade platform [1] Exhibition Displays - This year's expo will include one main digital trade exhibition hall and five specialized industry exhibition halls [1] - The main exhibition hall will showcase advanced industries such as embodied robotics and spatiotemporal intelligence, along with achievements in digital trade and cutting-edge technology [1][2] - The expo will also introduce a new thematic area called "Who is the Seventh Dragon" to set a new benchmark for national-level exhibition themes [2] Thematic Activities - The thematic activities will focus on five sub-sectors of digital trade, including cross-border e-commerce, gaming, artificial intelligence, digital healthcare, and low-altitude economy [1][2] - Various industry matchmaking events will be held to share cutting-edge technology, business applications, and innovative cases [1][2] - The expo will promote a collaborative environment by linking with other well-known industry events, enhancing resource sharing and audience flow [2] Online Digital Trade Platform - The online platform will expand to include sections on industry trends, national strategies, local regulations, policy interpretations, project applications, and resource connections [1] - The goal is to transition the online platform from a simple exhibition tool to a comprehensive digital trade service platform [1] International Participation - The expo has attracted international participants, with representatives from 23 countries, including the USA, UK, Italy, and the Philippines, seeking collaboration in various sectors [2] - The new capital of Indonesia has also expressed procurement needs related to digital transformation across multiple industries [2] Regional Development - Hangzhou has seen rapid development in digital trade reforms, positioning itself as a strong identifier in building a robust digital trade city and a global digital trade port core area [2]

中新网青海海东6月17日电(李隽)高原夏日，位于青海省海东市河湟新区的海东物流产业园内，快递和 物流运输呈现一派繁忙景象。 作为青海省唯一一个拥有机场、铁路、高速公路等立体综合交通网络的海东物流产业园，已初步形成集 保税物流、快递、冷链、仓储、商贸农副产业为一体的综合性智慧快递物流集散中心，正在成为面向全 国、"链接"世界的重要物流节点。 16日，海东物流产业园内的万纬西宁海东物流园京东快递分拣中心，工作人员紧张有序地进行拣选、打 包作业，电动叉车来回穿梭，将打包好的货物运送到大货车上。 "小件和中大件两条窄带传送机从早上8点到晚上8点持续作业，都是从全国各地进入青海的快递。"分拣 组长王有山表示，中大件传送机有34个出件口，分别对应34个站点。 京东快递分拣中心现场管理员张怀泰介绍，分拣中心占地9300平方米，是省级分拣中心，进出青海的快 递都由此分拣，以入省的京东自营快递为主。目前中心每天要保证50辆货车发往各市州，在"双 11"和"618"等高峰期每日快递量可达11万件，日常单量也有6至7万件。 图为产业 园内京东省级分拣中心工作人员正在分拣货物。李隽 摄 快递省级分拣中心工作现场。张忠苹 摄 在同是省 ...

Core Insights - The opening of the "Zhuhai-Zhengzhou" all-cargo flight marks the operational launch of the Zhuhai Airport International Smart Logistics Park, aimed at becoming the largest and most comprehensive air cargo logistics hub on the west bank of the Pearl River Delta [1][2] - The project has a total investment of 456 million yuan and a building area of 104,000 square meters, making it the largest "multi-layer structure + intelligent" airport cargo station in China [1] - The cargo handling capacity at Zhuhai Airport is set to increase from 50,000 tons per year to 150,000 tons per year, enhancing logistics advantages in terms of cost and transportation efficiency [1] Summary by Sections Project Overview - The Zhuhai Airport International Smart Logistics Park is located in the core area of Zhuhai Airport and is one of the first eight projects approved for private capital participation in civil aviation construction by the National Development and Reform Commission and the Civil Aviation Administration [1] - The domestic cargo station that has commenced operations covers an area of 17,450 square meters and includes six cargo security inspection channels and one staff passage [1] Future Developments - The international cargo port project at Zhuhai Airport has been completed and is set to begin operations, with international cargo routes expected to open as early as next month [2] - The logistics park plans to incorporate intelligent technologies such as logistics robots and AI video monitoring to create a smart park that integrates air cargo stations, cross-border e-commerce, express handling, cold chain processing, and bonded logistics [2] - The Zhuhai Airport aims to establish itself as a "super airport" on the west bank of the Greater Bay Area through these developments [2]

Group 1 - The event titled "Encountering Technology, Leading the Future" was held at a primary school in Chengdu, focusing on introducing cutting-edge technology to students [1] - The event featured demonstrations of autonomous vehicles capable of carrying 500 kilograms and processing nearly 2,000 packages daily, utilizing advanced sensors for smart navigation [3] - Students actively participated by operating the vehicles and engaging in a Q&A session, enhancing their understanding of modern technology [3][4] Group 2 - The collaboration between the primary school and Zhongtong Express aimed to bridge the gap between youth and technology, fostering curiosity and innovation among students [4] - The event showcased a drone with a carrying capacity of 50 kilograms, highlighting its advantages in complex terrains and emergency deliveries [3] - The initiative is seen as a foundational step in cultivating future technology talents by making logistics technology tangible and relatable for students [4]

这是德国慕尼黑博览集团全球产业负责人罗伯特·舍恩贝格尔的资料照片。新华社发（受访者供图） 新华社德国慕尼黑6月5日电 专访｜中国企业是全球物流创新的重要推动者——访慕尼黑博览集团全球 产业负责人 新华社记者褚怡 黄燕 李超 德国慕尼黑博览集团全球产业负责人罗伯特·舍恩贝格尔在2025年慕尼黑国际物流博览会期间接受新华 社记者专访时说，中国物流行业非常具有创新精神，对技术发展保持高度敏感，是全球物流创新的重要 推动者。 "中国企业在技术实施和转化方面反应非常快，很多数字化和自动化的应用场景在中国发展很快。"他 说，像"智慧物流"这样的概念在某种程度上可以说是起源于中国，这些理念正是未来物流业务发展的源 泉。 "今年中国参展商数量是上届的两倍多。"舍恩贝格尔说，"其中一个重点领域是航空货运板块，这是一 个非常庞大的市场。另外我们也注意到，越来越多的中国企业开始活跃在常规货运代理和物流服务领 域。" 他说，越来越多中国物流企业正在积极开拓欧洲市场，这不仅反映出它们的全球战略雄心，也标志着中 国物流行业整体竞争力的提升，"这当然是一个巨大的发展"。 "我相信未来我们会看到更多中国企业在全球物流版图中占据一席之地。"舍 ...

Group 1 - During the Dragon Boat Festival holiday (May 31 - June 2), China Southern Airlines Logistics Co., Ltd. (CSAL) transported over 11,000 tons of cargo and mail, showing significant growth compared to the same period last year [1] - CSAL enhanced logistics efficiency by utilizing big data to predict peak cargo volumes, optimizing capacity resources, and increasing the cargo load factor on popular domestic routes by 10% [1] - The company improved its cold chain logistics capabilities for fresh products, speeding up the delivery process from unloading to delivery by 20%, with domestic fruit and vegetable cargo volumes increasing by over 20% and seafood by over 50% [1] Group 2 - CSAL implemented measures such as staggered warehousing, charter flights, and accelerated cargo flow to leverage the high efficiency of air logistics [2] - The company introduced reusable packaging materials in collaboration with express delivery companies to reduce single-use materials, contributing to green logistics [2] - As the "618" shopping festival approaches, CSAL plans to innovate and deepen its multimodal transport system, expanding its overseas logistics layout to provide comprehensive logistics services for Chinese brands and international clients [2]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The company is a well - known domestic manufacturer of mobile industrial vehicles, with strong advantages in electric forklifts and new - energy forklifts [25]. - The cooperation with Jungheinrich will help the company deepen its global multi - channel strategic layout, promote product upgrades centered on electrification and intelligent technologies, and strengthen its core competitiveness [31]. - In the context of the development of intelligent logistics, the company's X - Mover Banma robot has been applied in logistics company transfer centers, effectively improving handling efficiency [32]. 3. Summary by Directory 3.1. Research Basic Situation - The research object is Zhongli Co., Ltd., and the reception time is June 4, 2025. The company's reception personnel include the director, board secretary, deputy general manager Liao Fapei, the director and financial officer Wang Shifeng, and the securities affairs representative Wu Biqing [17]. 3.2. Detailed Research Institutions - The research institutions include GF Fund Management Co., Ltd. with representatives He Juewei, Zhang Yi, and Cao Yue, and Guotai Haitong Securities Co., Ltd. with representative Ouyang Tianyi [18]. 3.3. Research Institution Proportion No information provided. 3.4. Main Content Data - **M&A Project Introduction**: The "Annual Production of 300,000 Storage Handling Equipment and 1,000,000 Sets of Mechanical Parts Processing, Intelligent Robot Manufacturing (Phase I)" and the "First - phase Project of Electric Forklift Assembly Production Line of Hubei Zhongli Machinery Co., Ltd." mainly produce electric forklifts. The "First - phase Project of Electric Forklift Parts Casting of Hubei Zhongli Foundry Co., Ltd." is a supporting link in the forklift industry chain. The "Mofu Intelligent (Anji) Research Institute Project" will upgrade and improve the company's R & D structure [22][23]. - **Company's Market Competitive Position**: The company is a well - known domestic manufacturer of mobile industrial vehicles. It has ranked first in the production and sales of electric storage forklifts for 12 consecutive years since 2013 and first in the production and sales of lithium - battery forklifts for 6 consecutive years since 2019 [25][26]. - **Introduction of "Oil - to - Electric" Forklifts**: The company's electric counterbalanced rider - type forklifts have an overall upward ranking. The "oil - to - electric" forklifts combine the advantages of internal combustion forklifts and electric forklifts, with features such as green environmental protection, low cost, and suitability for multiple scenarios [27][28]. - **Impact of Cooperation with Jungheinrich**: Jungheinrich is a global leader in material handling solutions. The cooperation will help the company deepen its global layout and strengthen its core competitiveness [29][31]. - **Intelligent Logistics Situation**: In the context of the development of intelligent logistics, intelligent industrial vehicle products are the trend. The company's X - Mover Banma robot has been applied in logistics company transfer centers, improving handling efficiency [32].

Industry Overview - The low-altitude logistics industry in China consists of a comprehensive supply chain, including upstream raw materials and core components, midstream low-altitude manufacturing, and downstream operational services and applications [1][2] - Upstream materials include metals, special rubber, and polymer materials, while midstream encompasses low-altitude manufacturing, flight operations, and comprehensive services [1][2] - Downstream services cover e-commerce logistics, traditional express delivery, takeaway delivery, and third-party logistics providers, with applications in urban logistics, rural logistics, emergency rescue, and medical supplies delivery [1] Key Players and Their Business Layout - Major companies in the low-altitude logistics sector include Hongdu Aviation, AVIC Helicopter, and DJI, with a focus on various aspects of the supply chain [2][10] - Hongdu Aviation specializes in the design, manufacturing, and maintenance of trainer aircraft, with over 8,000 pieces of equipment [11] - AVIC Helicopter is the largest player in China's helicopter manufacturing industry, with a comprehensive product range [11] - DJI and other drone manufacturers are pivotal in the midstream segment, while logistics companies like SF Express, Meituan, and JD.com are key players in the downstream segment [2][10][12] Regional Development - The low-altitude logistics industry is primarily concentrated in Beijing and Guangdong, where the development of the supply chain is more robust [4][6] - As of April 2025, there are 16 drone industrial parks across China, with notable concentrations in Zhejiang and Jiangsu [8] Recent Developments and Trends - Companies are diversifying their operations, with SF Express, Meituan, and JD.com expanding their business through digital logistics solutions and technological innovations [13][14] - The industry is witnessing advancements in drone technology, including battery life improvements and enhanced obstacle avoidance capabilities [14] - Collaboration among companies is increasing to explore new application scenarios and business models in low-altitude logistics [14] Representative Companies' Latest Developments - SF Express has established a three-segment air transport network and operates a significant number of drone flights daily [12][15] - Meituan has launched multiple drone delivery routes and is expanding its operations internationally, including in the UAE [15] - JD.com is focusing on last-mile delivery in remote areas and has introduced a new generation of logistics drones [15] - China Post is developing a low-altitude logistics network and has signed strategic agreements to enhance its infrastructure [15] - Xunyi Technology is collaborating with China Mobile to promote low-altitude logistics and smart city initiatives [15]