Group 1 - Huaxing Capital has established an M&A team since 2009 to provide comprehensive advisory services for innovative economy enterprises in China and globally, amidst a growing demand for M&A in the current uncertain market [1] - China Duty Free Group (601888.SH) plans to acquire DFS's retail business in Greater China for up to $395 million, enhancing its presence in the Hong Kong and Macau tourism retail market and deepening strategic cooperation with LVMH [3] - Jianghuai Microelectronics (603078.SH) announced that its controlling shareholder will transfer 23.96% of shares to Fuxun Technology for a total consideration of 1.848 billion yuan, changing the controlling shareholder to Shanghai Fuxun Technology [4] - Rongsheng Xintai intends to acquire control of Tian Sheng New Materials (300169.SZ) by purchasing 6.29% of shares for approximately 131 million yuan, aiming for a total holding of 18.75% [5] - Honglida (688330.SH) plans to use 341 million yuan of raised funds to acquire 50.93% of Zhongteng Microgrid, enhancing its capabilities in the power sector [6] - WuXi AppTec (2268.HK) has launched a voluntary conditional cash offer for all issued shares of Dongyao Pharmaceutical (1875.HK) at HKD 4.00 per share, with a total consideration of approximately HKD 2.79 billion, aimed at expanding its manufacturing capacity in China [7] - Lianjian Technology (301115.SZ) intends to acquire 55% of Zhongding Testing for 101 million yuan, enhancing its business layout in consumer goods and food testing [8] - JD Logistics (2618.HK) plans to acquire the remaining shares of Debon Holdings (603056.SH) for approximately 3.797 billion yuan and promote its voluntary delisting, aiming to strengthen network integration and operational efficiency [9] - China National Pharmaceutical Group (1177.HK) intends to acquire 100% of Hejiya for 1.2 billion yuan, focusing on innovative drug development in chronic disease areas [10] Group 2 - Baichuan Intelligent has launched the Baichuan-M3 Plus model, achieving a hallucination rate of 2.6%, the lowest globally, enhancing accuracy and reliability in medical scenarios [11] - Lenovo and NVIDIA have announced a collaboration to launch the "Lenovo AI Cloud Super Factory," aiming to transform traditional data centers into efficient AI factories [12] - Meituan has released the open-source "Reconsider" model, which significantly reduces training costs for new tools in complex tasks [13] - Qianwen App has integrated with Alibaba's ecosystem to test AI shopping functionalities, allowing users to order food and purchase items through AI [14] - Google and Apple have reached a multi-year AI collaboration agreement to support Siri with Google's Gemini model and cloud technology [15] - iQIYI announced the resignation of CFO Wang Jun, with Senior Vice President Zeng Ying appointed as interim CFO [16]

Core Viewpoint - Longjiu Logistics (603569) expects a net profit attributable to shareholders of between -50 million to -75 million yuan for the year 2025, indicating a significant loss due to various operational challenges [1] Group 1: Reasons for Expected Loss - The company cites intensified market competition, slower-than-expected market development, and high costs of raw materials such as battery cells as major factors impacting the profitability of its new energy business segment [1] - As a result of these challenges, the company has made provisions for impairment on related fixed assets, inventory, and goodwill in the new energy segment [1] - Additionally, the profitability of the company's Polish joint venture and its network freight platform business has also declined, prompting further impairment provisions due to the current market environment and operational conditions [1] Group 2: Transportation Business Impact - The overall profitability of the vehicle transportation business is below expectations, as the freight rates for complete vehicles have not returned to reasonable levels in the first three quarters of 2025 [1]

板块市场回顾 本周（2026/1/17-2026/1/23）交运指数上涨 1.6%，沪深 300 指数下跌 0.6%，跑赢大盘 2.3%，排名 18/29。交运子板 块中公交板块涨幅最大(+6.7%)，航运板块涨幅最小(+0.5%)。 行业观点 快递：12 月快递业务量同比增长 2.3%，部分快递公司受益反内卷涨价影响。上周（1 月 12 日-1 月 18 日）邮政快递 累计揽收量约 40.73 亿件，环比-6.5%,同比-0.8%；累计投递量约 40.82 亿件，环比-3.9%，同比-1.9%。国家邮政局 公布 2025 年邮政行业运行情况，2025 年，快递业务收入完成 1.5 万亿元，同比增长 6.5%。快递业务量完成 1989.5 亿件，同比增长 13.6%。其中，12 月快递业务收入完成 1388.7 亿元，同比增长 0.7%；快递业务量完成 182.1 亿件， 同比增长 2.3%。反内卷"背景下多个产粮区已提价，快递旺季来临，反内卷涨价已兑现。考虑估值性价比、经营韧性、 股东回报提升等，推荐顺丰控股。低价件减少，头部快递市场份额提升，看好中通快递。 物流：危化品水运价格环比持平，发力智慧物流推荐海 ...

人民财讯1月25日电，长久物流(603569)1月25日公告，预计2025年年度实现归属于母公司所有者的净利 润为亏损5000万元到7500万元，上年同期净利润7956.55万元。报告期内，受市场竞争加剧、市场开发 进度不及预期及前期采购电芯等原材料成本较高等多重因素影响，公司新能源业务板块盈利能力受到显 著冲击；2025年前三季度整车运价尚未回归合理区间，致2025年度整车运输业务盈利水平不及预期。 转自：证券时报 ...

Core Viewpoint - Changjiu Logistics (603569.SH) is expected to report a significant loss in 2025, with net profit attributable to shareholders projected to be between -50 million and -75 million yuan [1] Financial Projections - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to be between -80 million and -120 million yuan for the year 2025 [1]

每经头条（nbdtoutiao）——丹麦士兵荷枪实弹上岛，准备战斗！反击特朗普夺岛图谋，美最大债主3.6 万亿美元"金融核弹"可随时引爆，格陵兰风云骤起 （记者 曾健辉） 每经AI快讯，长久物流1月25日晚间发布业绩预告，预计2025年年度实现归属于母公司所有者的净利润 为-5000万元到-7500万元，将出现亏损。业绩变动主要原因是，资产减值因素。受市场竞争加剧、市场 开发进度不及预期及前期采购电芯等原材料成本较高等多重因素影响，公司新能源业务板块盈利能力受 到显著冲击。基于此，公司对新能源板块相关固定资产、存货及商誉计提了相应减值准备。此外，公司 波兰联营企业及公司的网络货运平台业务亦出现盈利能力下滑，结合当前市场环境及经营情况，公司遵 循谨慎性原则，对前述相关资产计提了减值准备。 ...

长久物流公告，预计2025年年度实现归属于母公司所有者的净利润为-5000万元到-7500万元，将出现亏 损。预计2025年年度实现归属于母公司所有者的扣除非经常性损益的净利润为-8000万元到-1.2亿元。上 年同期归属于母公司所有者的净利润为7956.55万元。 ...

证券研究报告 | 行业定期报告 2026 年 01 月 25 日 油轮制裁力度仍在加大，2025 年快递业务量同比增长 13.6% 招商交通运输行业周报 周期/交通运输 本周关注：航运方面，本周油运运价延续高位，散货运价好转；基础设施方面， 优选个股布局红利资产；航空方面，关注 26 年行业基本面上行趋势；快递方面， 关注 26 年行业竞争格局和估值修复潜力。 推荐（维持） 行业规模 | 王春环 | S1090524060003 | wangchunhuan@cmschina.com.c | | --- | --- | --- | | n | 孙修远 | S1090524070005 | | sunxiuyuan@cmschina.com.cn | 肖欣晨 | S1090522010001 | | xiaoxinchen@cmschina.com.cn | 刘若琮 | S1090524110003 | | liuruocong@cmschina.com.cn | 张瑜玲 | S1090525060006 | | zhangyuling2@cmschina.com.cn | | | | | | 占比% | | ...

【环球网财经综合报道】据The Edge Malaysia援引彭博社报道，随着美国上市公司财报季进入深水区，一股谨慎的寒意正从企业高管的电话会议中弥漫开 来。尽管宏观经济数据显示增长依然稳健，但从航空巨头到消费品龙头，再到工业巨擘，美国企业的掌门人们正罕见地集体发出预警：地缘政治紧张局势与 政策不确定性正在重塑消费者行为，令企业规划变得异常艰难。 这一悲观论调与亮眼的经济数据形成了鲜明反差。数据显示，去年美国经济增长稳健，消费者支出展现出惊人韧性。然而，在这份看似光鲜的成绩单背后， 企业高管们却在为一个充满动荡的未来定调。随着标普500指数连续三年实现两位数增长后处于历史高位，市场几乎没有犯错空间，而美国政府持续重塑贸 易关系与国际政策的举动，正成为悬在企业头顶的达摩克利斯之剑。 工业领域的需求阻力同样挥之不去。工业分销商Fastenal的首席财务官形容美国经济"继续发出混杂信号，尤其是在工业领域"。物流公司JB Hunt Transport Services的高管则表示，年初货运市场依然不稳定，尽管收紧的移民政策限制了劳动力供应——这一因素通常会推高运输费率，但并未带来预期的市场提 振。多元化制造商3M在发 ...

"零工聚集在哪里，零工超市就建设到哪里，服务就保障到哪里。"李景辉代表说，目前，景县已打造1 个规范化零工市场、109个零工超市网点，实现全县域网点全覆盖。 让群众在"家门口""厂门口"就能享受到便捷的零工服务，李景辉代表建议，对零工需求量大、交通便利 的地方，可设立辐射一定区域的综合性零工市场，集中向灵活就业人员提供就业创业服务；对用工行业 集中、岗位需求相似的地方，可设立行业性、专业性零工市场，重点服务行业用工需求。 （来源：河北新闻网） 转自：河北新闻网 近年来，零工市场迅速发展，成为越来越多人的就业新选择。如何延伸服务触角、创新服务模式，以零 工"小市场"激活就业"大民生"，让公共就业服务更精准、更有温度，成为今年省两会代表委员的关注点 之一。 构建"一站式"就业生态 前不久，在景县杜桥镇草厂村，47岁的村民李淑敏抱着试试看的心态，在零工超市登记了求职信息，经 过工作人员匹配，她很快就在离家不远的橡胶厂找到了一份操作工的工作，现在一个月能挣三四千元。 "等活儿模式由来已久，打零工对促进大龄和困难人员就业增收具有重要作用。"省人大代表、景县县委 书记李景辉告诉记者，过去零工市场主要依靠自发组织，缺乏有效 ...