7月21日，重庆港今日收盘5.81元，上涨3.38%，滚动市盈率PE（当前股价与前四季度每股收益总和的比 值）达到13.45倍，创21天以来新低，总市值68.96亿元。 从行业市盈率排名来看，公司所处的航运港口行业市盈率平均14.96倍，行业中值15.02倍，重庆港排名 第14位。 股东方面，截至2025年3月31日，重庆港股东户数37110户，较上次减少1603户，户均持股市值35.28万 元，户均持股数量2.76万股。 重庆港股份有限公司的主营业务是港口货物中转运输及综合物流。公司的主要产品是装卸及客货代理业 务、综合物流业务、商品贸易业务、爆破施工业务。全年累计申报专利7项，获得软件著作权登记证书 26个，果园港成功入选交通运输部"全国智慧港口创新案例集"；推动水运口岸数字赋能，"船边放行、 智能分流"提升疏港效率30%以上；果集司申报"四星级智慧港口"，有望成为长江上游首个"双四星港 口"；久久物流公司综合物流服务平台上线运行并成功入选重庆市科学技术局科技型企业培育名单。 最新一期业绩显示，2025年一季报，公司实现营业收入11.10亿元，同比-20.30%；净利润-8716728.31 元，同比-2 ...

近年来，多地经开区立足产业优势，以科技创新为引擎，培育新质生产力。各地通过技术攻关、政策赋 能、模式创新，加速新旧动能转换，让创新驱动成为高质量发展的强劲动力。 ■从数字化到智慧化以技术升级激活产业新动能 ■创新中心搭平台新技术成新质生产力"强引擎" 近年来，坐落于浙江省宁波市镇海区的国家石墨烯创新中心不断加大研发资金投入，汇聚创新人才，将 科技创新与产业创新深度融合，推动宁波制造向世界一流水平迈进。 据悉，"十五五"期间，镇海区将依托浙江省石墨烯未来产业先导区，规划布局石墨烯产业园，重点支持 科技研发，推动石墨烯新材料产业做大做强和特色活动等开展。 ■锚定高端航运服务港产城融合促进高质量发展 近年来，天津经济技术开发区依托雄厚的制造业基础、完善的产业服务体系，在巩固物流、贸易等传统 服务业的同时，重点发展航运金融、海事法律等高端航运服务业，持续推动"航运+实体产业"融合发展 迈上新台阶。 位于江苏省南京市的江宁经济技术开发区，充分发挥科教创新资源禀赋和产业优势，聚焦科技成果转 化，加强科技创新和产业创新深度融合，加快催生新产业、新模式、新动能，因地制宜发展新质生产 力。 南京科远智慧科技集团股份有限公司在智 ...

央视网消息：7月21日上午，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布会。交通运输部部长刘伟表示，"十四 五"期间，国家综合立体交通网加快构建。 截至去年底铁路营业里程达16.2万公里 截至2024年底，铁路营业里程达16.2万公里，比"十三五"末增加约1.6万公里，其中高铁增加1万公里；公路总里程达549万公里，增加约29 万公里，港口万吨级以上泊位2971个，增加379个；颁证民航运输机场达263个，增加22个。"十四五"前四年，交通固定资产投资达15.2万亿 元，同比增长23.3%。 农村公路总里程占全国公路近85% 截至2024年底，农村公路总里程达464万公里，占全国公路总里程的近85%，外通内联、通村畅乡的农村交通网络基本形成。 "六廊六路多国多港"互联互通架构基本形成 "十四五"期间，我国持续推进基础设施"硬联通"，"六廊六路多国多港"的互联互通架构基本形成。目前，中欧班列通达欧洲229个城市、 亚洲100余个城市。"空中丝绸之路"不断拓展，通航境外83个国家213个城市。我国车辆首次以公路直达运输的方式跨越里海、抵达欧洲。"丝 路海运"国际航线网络遍及全球，我国海运连接度 ...

Core Viewpoint - The Shandong Provincial Government has approved the "Shandong Port and Waterway Layout Plan (2025-2035)", aiming to enhance the province's port and waterway infrastructure to support ecological protection, high-quality development, and regional economic growth [4]. Group 1: Port and Waterway Development Goals - The plan aims to create a modern water transport system that connects coastal ports and inland waterways, focusing on a dual opening strategy towards Northeast Asia and the "Belt and Road" initiative [4]. - By 2035, Shandong aims to establish a "fully capable, strongly supported, safe, efficient, smart, and green" port and waterway system, with a world-class marine port cluster and a comprehensive inland waterway network [4]. Group 2: Port Layout and Structure - The coastal port layout includes Qingdao Port as the leading international hub, supported by Yantai Port and Rizhao Port, with regional ports like Weihai, Binzhou, Dongying, and Weifang as supplements, forming a "three main and four auxiliary" structure [5]. - The inland port layout centers around Jining Port, with supporting ports in Zaozhuang, Heze, Tai'an, and Jinan, creating a "one main, four auxiliary, and multiple points" structure [5]. Group 3: Waterway Network - The inland waterway network will consist of high-grade national waterways such as the Grand Canal and Xiaoqing River, with a total length of approximately 3,100 kilometers, structured as "one vertical, two horizontals, and three main and multiple branches" [5]. Group 4: Transportation Systems - The plan includes the development of a container transport system and a transportation system for energy and important materials, focusing on coal, crude oil, bulk grain, imported iron ore, bauxite, and liquefied natural gas [5]. - A specialized and efficient port transportation system categorized into "three categories and ten types" will be established to optimize port transport structure and support the logistics needs of key industries [5]. Group 5: Implementation and Innovation - Cities are required to develop and implement their port plans in accordance with national laws and the provincial regulations, enhancing intermodal transport and promoting integrated development [6]. - The plan emphasizes technological innovation, the construction of smart ports and waterways, and the promotion of green and safe water transport [6].

刘伟表示，人民对美好生活的向往在交通运输领域表现最为突出的就是期盼出行有更多选择，有更大便 利，有更优品质。"十四五"期间，公众出行选择更多元，高铁、民航成为首选。2024年，动车组旅客发 行量达32.72亿人次，占铁路旅客发送量的75.9%，民航日均服务200万人次以上。自驾成为人们的主流 方式，平均每天约有1.3亿人次选择自驾出行，占跨区域人员流动量的七成以上。多元化的公共交通保 障公众便利出行，每天约有1亿人次乘坐轨道交通高效通勤，1亿人次乘坐公交穿梭街巷，1亿人次乘坐 出租车和网约车"门到门"出行。此外，全国约有90%的县级行政中心实现30分钟上高速，建制村基本实 现村村通客车，半数以上通公交。 为提升出行体验，节假日出行高峰期，常常遇到大城市周边公路拥堵，以及服务区新能源汽车充电设施 紧张。针对上述问题，交通运输部实行"一区一策"，已经累计建成充电停车位6.2万个，服务区充电桩 覆盖率达到98.4%，有效缓解"里程焦虑"，高速公路日均通行的新能源车占比已经提高至20%左右。针 对易拥堵的路段，在节假日实行"一段一策"措施，高峰时保障单日7000万次以上的车辆通行，相当于日 常通行量的2倍。 刘伟称， ...

投资咨询业务资格：证监许可【2012】669号 国内商品期货多数上涨，碳酸锂、原油表现偏强 ——中信期货晨报20250721 中信期货研究所 仲鼎 从业资格号F03107932 投资咨询号Z0021450 | | | | 20 BOX 111 200 DR TEV PHI | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 板块 | 品种 | 现价 | | | 日度涨跌幅周度涨跌幅月度涨跌幅季度涨跌幅今年涨跌幅 | | | | 股指 | 沪深300期货 | 4041.8 | 0.75% | 11/21196 | 4.014 | 4.01% | 3.08% | | | 上证50期货 | 2767 | Orak W | 0.56% | 2904 | 2.90% | 3.32% | | | 中证500期货 | 6000.8 | 0 38 % | 1 36% | 4.024 | 2 35% | 5.41% | | | 中证1000期货 | 6413.6 | 0.36% | 1.48% | 4.314 | 4.31% | 9 66% | | 国债 ...

部分班轮公司宣涨8月初运价,盘面偏强震荡,近月保持基差修复,今日若回调可考虑加仓。 | SCFIS、NCFI运价指数 | | | --- | --- | | 7月14日 | 7月18日 | | 上海出口集装箱结算运价指数SCFIS（欧洲航线）2421.94点，较上期上涨7.3% | 宁波出口集装箱运价指数NCFI（综合指数）1218.03点，较上期下跌3.19% | | 上海出口集装箱结算运价指数SCFIS（美西航线）1266.59点，较上期下跌18.7% | 宁波出口集装箱运价指数NCFI（欧洲航线）1435.21点，较上期下跌0.50% | | | 宁波出口集装箱运价指数NCFI（美西航线）1186.59点，较上期上涨0.85% | | 7月18日 | 7月18日 | | 上海出口集装箱运价指数SCFI公布价格1646.90点，较上期下跌86.39点 | | | 上海出口集装箱运价指数SCFI欧线价格2079USD/TEU, 较上期下跌1.00% | 中国出口集装箱运价指数CCFI（综合指数）1303.54点，较上期下跌0.8% | | | 中国出口集装箱运价指数CCFI（欧洲航线）1803.42点，较上 ...

今年第6号台风"韦帕"已于20日晚在广东阳江二次登陆后减弱为热带风暴级，对珠江口水域的影响逐步 减弱。记者从广州海事局了解到，广州海事局于21日6时起解除防热带气旋应急响应，珠江游和市区水 巴线路于7月21日起全线复航，广州港（601228）各码头逐步复工复产。琶洲港和南沙客运港港澳高速 客船7月21日全天航班继续停航，7月22日部分航班恢复。台风过境后，广州海事局采用先出后进、航道 两侧交替、一对一点名的方式，有序安排船舶进出港。预计21日14时起，广州港出海航道将恢复正常通 行。(央视新闻) ...

Report Information - Report Title: Fixed Income Report - Release Time: July 21, 2025 - Analysts: Liang Weichao, Cui Chao [2] Core Viewpoints - High-frequency economic data shows that production is heating up, the real estate market is declining marginally, prices are diverging, and shipping indices are also showing a differentiated trend. Short-term focus should be on the implementation of new growth-stimulation policies, the recovery of the real estate market, and international geopolitical changes [2] Content Summary by Section Production - Steel: In the week of July 18, the coke oven capacity utilization rate increased by 0.18 pct, the blast furnace operating rate increased by 0.31 pct, and the rebar output decreased by 7.6 tons [3][9] - Petroleum Asphalt: In the week of July 16, the operating rate of domestic petroleum asphalt plants increased by 0.1 pct [9] - Chemical Industry: The operating rates of PX and PTA remained flat compared to the previous week [9] - Automobile Tires: In the week of July 17, the operating rate of all-steel tires increased by 0.54 pct, and that of semi-steel tires increased by 3.07 pct [9] Demand - Real Estate: In the week of July 13, the commercial housing transaction area decreased, the inventory-to-sales ratio increased, the land transaction area declined, and the residential land transaction premium rate increased [13] - Movie Box Office: In the week of July 13, the total national movie box office revenue decreased by 123 million yuan compared to the previous week [13] - Automobile: In the week of July 13, the daily average retail sales of automobile manufacturers increased by 0.8 million vehicles, and the daily average wholesale sales increased by 0.7 million vehicles [15] - Shipping Indices: In the week of July 18, SCFI decreased by 4.98%, CCFI decreased by 0.77%, and BDI rebounded significantly by 23.39% [18] Prices - Energy: On July 18, the Brent crude oil price decreased by 1.53% to $69.28 per barrel, and the coking coal futures price increased by 2.53% to 932.5 yuan per ton [20] - Metals: On July 18, the LME copper, aluminum, and zinc futures prices changed by +1.36%, +1.38%, and +3.14% respectively, and the domestic rebar futures price increased by 0.73% [21] - Agricultural Products: The overall price of agricultural products decreased. The wholesale price index of agricultural products 200 decreased by 0.54%. The prices of pork, eggs, vegetables, and fruits changed by +0.29%, +0%, -1.36%, and -2.55% respectively compared to the previous week [23] Logistics - Subway Passenger Volume: On July 17, the seven-day moving average of subway passenger volume in Beijing decreased by 66,400 person-times, and that in Shanghai increased by 438,600 person-times [26] - Flight Volume: On July 18, the seven-day moving average of domestic (excluding Hong Kong, Macao, and Taiwan) flight volume increased by 252.29 flights, that of domestic (Hong Kong, Macao, and Taiwan) flight volume increased by 7.43 flights, and that of international flight volume increased by 14.71 flights [27] - Urban Traffic: On July 18, the seven-day moving average of the peak congestion index in first-tier cities decreased by 0.06 [27]

证券研究报告 交通运输 行业定期报告 hyzqdatemark 2025 年 07 月 21 日 证券分析师 孙延 SAC：S1350524050003 sunyan01@huayuanstock.com 刘晓宁 SAC：S1350523120003 liuxiaoning@huayuanstock.com 王惠武 SAC：S1350524060001 wanghuiwu@huayuanstock.com 曾智星 SAC：S1350524120008 zengzhixing@huayuanstock.com 张付哲 SAC：S1350525070001 zhangfuzhe@huayuanstock.com 联系人 板块表现： 快递 6 月数据明显分化，关注行业反内卷进程 投资评级： 看好（维持） —交通运输行业周报（2025 年 7 月 14 日-2025 年 7 月 20 日） 投资要点： 一、行业动态跟踪 快递物流： 1）各家快递公司发布 6 月经营业绩，顺丰业务量增速维持 30%+，"通达系"中圆 通增速保持领先。2025 年 6 月圆通/韵达/申通/顺丰完成业务量 26.27 / 21.73 /21 ...