来源：智通财经网 德银天下(02418)涨超11%，截至发稿，涨11.14%，报4.19港元，成交额813.75万港元。 消息面上，德银天下发布公告，10月9日，公司与永青集团有限公司(永青集团)就海外园区数智化物流 的相关合作订立战略合作协议。根据战略合作协议，双方将在园区数智化运力管理领域展开深度合作， 本集团将为永青集团负责运营管理的位于印度尼西亚中苏拉威西省的莫罗瓦利(Morowali)工业园区 (IMIP园区)提供高效、安全、稳定的数智化运力服务管理解决方案。 同时，根据战略合作协议，双方将在IMIP园区运力一体化管理、智慧物流解决方案、定製化车辆与后 市场服务等领域开展深度合作。董事认为，战略合作将有利于集团的海外业务拓展，为集团带来新的市 场机遇，符合集团的长期发展目标及业务发展策略。因此，董事认为战略合作符合公司及股东的整体利 益。 ...

来源：格隆汇APP 格隆汇10月9日｜德银天下(2418.HK)在港公告，于2025年10月9日，本公司与永青集团有限公司就海外 园区数智化物流的相关合作订立战略合作协议。根据战略合作协议，双方将在园区数智化运力管理领域 展开深度合作，本集团将为永青集团负责运营管理的位于印度尼西亚中苏拉威西省的莫罗瓦利 (Morowali)工业园区(IMIP园区)提供高效、安全、稳定的数智化运力服务管理解决方案，降低IMIP园区 整体物流成本，提升运营效率，包括但不限于整体运力资源整合与调度管理、运输服务综合管理、仓储 与生产协同管理、信息共享与可视化管理。 ...

Core Insights - The logistics network established by Shandong High-speed is facilitating the import of various global goods into Shandong, including Kazakh wheat and Russian timber, enhancing the region's supply chain efficiency [1][8] - The company has implemented a "Five Unification" operational model, significantly increasing the number of China-Europe freight trains, with over 13,000 trains operated cumulatively and 2,002 trains in the first eight months of this year [3] - Shandong High-speed is focusing on customized services for different clients, including dedicated trains for key enterprises and specialized trains for small and medium-sized businesses [3][8] Logistics and Infrastructure Development - The company is accelerating the construction of logistics hubs in Jinan and Qingdao, with the Jinan project planned to have five functional areas and the Qingdao project six, expected to enhance freight consolidation and distribution capabilities [3] - The establishment of international logistics parks, such as the Xinjiang International Logistics Industrial Park, is contributing to significant freight volumes, with 27.5 million tons of goods transported by rail and 2,253 international freight trains dispatched in the first eight months [5] Industry Innovation and Digitalization - The company is building a digital wood chain platform to integrate resources in the wood industry, enhancing efficiency in the supply chain [5][7] - The implementation of solar power systems in logistics parks is part of a low-carbon transformation initiative, with an installed capacity of 8.35 megawatts generating 9 million kWh annually, reducing carbon emissions by 6,500 tons [7] Global Trade and Consumer Access - The establishment of pre-storage warehouses for international products, such as Brazilian beef and Russian king crab, is enhancing consumer access to global goods, with an average daily inventory exceeding 1 million bottles of wine [7] - The company has secured import qualifications for all categories of meat, signing 454 cold chain contracts in the first eight months, which is 87% of last year's total [7]

Core Viewpoint - Ande Intelligent Supply Chain Technology Co., Ltd. (referred to as "Ande Intelligent") has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, indicating its growth and financial performance in the supply chain sector [2][16]. Financial Performance - In the first half of 2025, Ande Intelligent reported revenue of 10.885 billion RMB, a 20% increase from 9.053 billion RMB in the same period last year, with a net profit of 248 million RMB compared to 204 million RMB [7]. - The company’s revenue for 2022, 2023, and 2024 was 14.173 billion RMB, 16.224 billion RMB, and 18.663 billion RMB respectively, with corresponding net profits of 215 million RMB, 288 million RMB, and 380 million RMB [6][9]. - The gross profit margins for the years 2022, 2023, and 2024 were 6.8%, 7.3%, and 7.3% respectively [6]. Dividend Distribution - The company has declared dividends of 80.1 million RMB, 108 million RMB, 167 million RMB, and 227 million RMB for the years 2022, 2023, 2024, and the first half of 2025 respectively, all of which have been fully paid [2]. Business Model and Operations - Ande Intelligent employs a "1+3" model to provide integrated and intelligent solutions, which includes end-to-end logistics capabilities and three solution pillars aimed at optimizing supply chain efficiency [5]. - As of June 30, 2025, the company operates a warehouse network comprising 47 owned facilities, 436 leased facilities, and 17 managed facilities, covering over 11 million square meters [5]. Shareholding Structure - Prior to the IPO, major shareholders include Midea Group with a 52.94% stake, Hisense Electronics Technology with 22.03%, and several other minority shareholders [13][14]. - Recently, Ande Intelligent completed a financing round of 1.9 billion RMB, with Hisense Electronics Technology subscribing for 1.52 billion RMB [10][13].

Group 1 - The core point of the article is that Baoki has successfully won a contract worth 3.27 billion yuan for a logistics service project with Zhongtongfu Supply Chain, marking a significant milestone in empowering state-owned enterprises in logistics supply chain upgrades [1][4] - Baoki will provide comprehensive digital freight services including intelligent capacity scheduling, transportation route optimization, and in-transit tracking management to Zhongtongfu Supply Chain [3] - The collaboration aims to build an agile and resilient smart supply chain network, with plans for deep cooperation in energy management and supply chain finance, establishing a benchmark for digital transformation in the industry [4] Group 2 - Zhongtongfu Supply Chain, a wholly-owned subsidiary of China Communications Services Corporation, is a leading integrated supply chain service provider in China, covering logistics for communication equipment, warehousing management, and cross-border transportation [4] - Baoki is recognized as a leading provider of intelligent logistics solutions in China, focusing on enhancing efficiency and optimizing route planning through technology such as the internet, big data, and AI models [4]

Core Viewpoint - The logistics industry in China has shown stable growth in the first half of the year, with a total social logistics volume exceeding 171.3 trillion yuan, reflecting a year-on-year growth of 5.6%, which is 0.3 percentage points higher than the GDP growth rate [3][5]. Logistics Performance - The total social logistics volume reached 171.3 trillion yuan in the first half of the year, with a year-on-year increase of 5.6%, indicating strong support for economic development [3][5]. - The logistics demand continues to play a significant role in supporting the stable growth of the national economy [3]. Sector Analysis - Industrial product logistics saw a year-on-year growth of 5.8%, contributing 85% to the total social logistics volume growth, with emerging industries driving strong demand [5]. - The logistics volume for consumer goods increased by 6.1%, driven by active consumer markets and specific sectors such as electronics and tourism [5]. Revenue and Cost Efficiency - The total revenue of the logistics industry was 6.9 trillion yuan, reflecting a year-on-year growth of 5.0%, indicating a generally favorable economic climate in the logistics sector [7]. - The total logistics cost was 9.2 trillion yuan, with a ratio to GDP of 14.0%, showing a steady decline in logistics costs relative to GDP [7]. Technological Advancements - The logistics sector is leveraging digital technologies to enhance supply chain efficiency, with a 26.0% year-on-year increase in supply chain contract orders for large-scale logistics enterprises [8]. - Integrated logistics business revenue grew by 16.0%, supported by advancements in automation and smart technologies [8].

Core Insights - The article emphasizes the integration of express delivery services into the manufacturing and supply chain, highlighting the role of logistics in enhancing economic circulation and consumer experience [5][8][9]. Group 1: Express Delivery and Manufacturing Integration - The "Express Delivery into Factories" initiative is transforming logistics from mere delivery to a core component of the industrial chain, enhancing efficiency and reducing costs for manufacturers [8]. - In 2022, the postal express industry in Henan supported a total output value of 432.90 billion yuan through 232 projects, with a business volume of 8.49 billion items [8]. - The express delivery business in Henan saw a cumulative completion of 50.20 billion items from January to May 2023, marking a year-on-year growth of 33.18%, with express delivery alone reaching 44.76 billion items, a 35.10% increase [9]. Group 2: High-Speed Rail Logistics - Henan has established itself as a key hub for high-speed rail logistics, with express delivery services utilizing the extensive high-speed rail network to enhance delivery speed and efficiency [10][11]. - The province has opened 51 high-speed rail express lines and 20 metro express lines, facilitating rapid delivery across major cities, with travel times from Zhengzhou to Beijing as short as 4 hours [10][11]. - The integration of high-speed rail into logistics is supported by national policies aimed at improving rail express routes and establishing specialized logistics bases [10][11]. Group 3: Technological Advancements in Logistics - The implementation of automated sorting systems and the use of drones and unmanned vehicles are revolutionizing the logistics landscape in Henan, improving efficiency and service quality [12][13]. - By mid-2025, Henan's express delivery companies are expected to deploy 343 unmanned delivery vehicles with a total capacity of 1,522 cubic meters, enhancing last-mile delivery capabilities [13]. - The logistics sector is increasingly adopting technologies such as big data, artificial intelligence, and the Internet of Things to optimize operations and improve overall efficiency [12][13]. Group 4: Rural Logistics and E-commerce Integration - The "Passenger and Cargo Postal" initiative in Gongyi City is leveraging public transportation to enhance rural logistics, facilitating the delivery of goods to remote areas [15][16]. - The integration of online sales platforms with local postal services is enabling farmers to sell their products more effectively, thus increasing their income and market access [16]. - By June 2025, Henan plans to have established 289 intermodal transport routes, enhancing the efficiency of rural logistics and supporting the sale of agricultural products [16].

Core Viewpoint - The company is preparing for the 2025 annual general meeting, presenting various proposals including financial reports, related party transactions, and budget plans for the upcoming year [1][2][3]. Financial Reports - The company achieved a revenue of CNY 1,184,039.61 million in 2024, representing a year-on-year increase of 60.03% [14]. - The net profit attributable to shareholders was CNY 25,269.84 million, up 5.22% from the previous year [14]. - The net cash flow from operating activities reached CNY 48,245.67 million, a significant increase of 343.41% [14]. Proposals for 2025 - The company plans to apply for a credit limit of up to CNY 1,295 million for 2025, with guarantees for subsidiaries not exceeding CNY 295 million [7]. - The proposed profit distribution plan for 2024 includes a cash dividend of CNY 6 per 10 shares, totaling CNY 208 million, which represents 82.31% of the net profit for the year [6]. - The company aims for a revenue target of CNY 900,000 million for 2025, a decrease of 23.99% compared to 2024 [21]. Governance and Management - The board of directors has been actively fulfilling its duties, ensuring compliance with regulations and maintaining effective governance [3][27]. - The independent directors have provided valuable insights and guidance to enhance corporate governance and protect shareholder interests [27]. - The supervisory board has conducted regular meetings to oversee the company's operations and ensure adherence to legal and regulatory requirements [30][32]. Strategic Focus - The company emphasizes health and sustainable development as its main theme for 2025, focusing on market demands and management efficiency [22][25]. - There is a commitment to enhancing risk management and operational safety to ensure sustainable growth [25][20]. - The company is exploring opportunities in emerging markets and expanding its logistics services, particularly in the cold chain and overseas operations [17][18][24].