Core Viewpoint - The Guangzhou-Shenzhen-Hong Kong High-Speed Rail has entered a "public transport" operational era, significantly enhancing regional economic and social interactions, and transforming the rail line into a vital artery for the Greater Bay Area [1][2]. Group 1: Operational Efficiency - Since the implementation of the new operation schedule on January 26, 2023, the high-speed rail operates with an average of one train every two minutes during peak hours, achieving a maximum daily operation of 415 trains, the highest in the country [1]. - The travel time from Hong Kong West Kowloon Station to Shenzhen Futian Station is as short as 14 minutes, and to Guangzhou South Station is 47 minutes, facilitating seamless connectivity akin to urban public transport [1]. Group 2: Economic Impact - The high-speed rail has transported over 1.01 million cross-border passengers from January 1 to December 12, 2023, with 63% of the traffic originating from Shenzhen, indicating a robust interaction of people, information, and capital within the Greater Bay Area [1]. - The rail network's "public transport" model enhances the flow of economic factors, positioning Hong Kong as a crucial southern hub in the national high-speed rail network, thus strengthening its role as an international financial and trade center [2]. Group 3: Industry Collaboration - The convenience of the high-speed rail has led to a normalization of cross-border consumption and tourism, with a notable trend of Hong Kong residents traveling north for shopping and mainland residents heading south for leisure [2]. - The evolving industrial layout in the Greater Bay Area is shifting from "single-point aggregation" to "network collaboration," fostering a refined division of labor among regions, with headquarters and business districts flourishing around key high-speed rail hubs [2]. Group 4: Technological Advancements - The innovative "one place, two inspections" customs model has significantly simplified cross-border inspection procedures, reducing clearance times and extending the speed advantage of the high-speed rail from stations to cities [3]. - The upgrade to the "Fuxing" smart train sets and the introduction of the world's first fully intelligent high-speed rail platform screen door system at Shenzhen Futian Station enhance operational efficiency and safety, supporting the high-frequency service [3].

Core Insights - The article emphasizes the significant progress made in Guizhou's infrastructure and economic development, particularly through the construction of bridges and railways, which are pivotal for the region's connectivity and growth [4][5][10]. Infrastructure Development - The completion of the Huajiang Grand Canyon Bridge has drastically reduced travel time between two regions from over two hours to just two minutes, showcasing Guizhou's engineering capabilities [4]. - Guizhou has built over 30,000 bridges in the past five years, with a total length exceeding 5,400 kilometers, addressing the challenges posed by its mountainous terrain [4][6]. - The Guinan High-Speed Railway has significantly improved travel efficiency, reducing the journey from Guiyang to Libo from four hours to one hour, leading to a 335.21% increase in tourist numbers during the New Year holiday [9][10]. Economic Growth - Guizhou's GDP surpassed 2 trillion yuan in 2022, with projections to reach 2.3562 trillion yuan by 2025, indicating a growth of over 500 billion yuan in five years [5]. - The region's economic vitality is further enhanced by the integration of tourism and local industries, driven by improved transportation infrastructure [6][10]. Cultural and Sports Integration - The "Village Super League" has become a significant cultural phenomenon, promoting grassroots football and tourism, with over 2,000 matches held in 2025, enhancing community engagement [12][15]. - The integration of sports events with tourism has created a positive feedback loop, attracting visitors and boosting local economies [15]. Digital and Technological Advancements - Guizhou is establishing itself as a key player in the national "East Data West Calculation" strategy, with a computing power capacity exceeding 160 Eflops, aimed at enhancing various sectors including agriculture and healthcare [18][21]. - The province is focusing on developing a robust digital economy, with plans to increase computing power to over 190 Eflops by 2026 and to foster over 150 cloud ecosystem enterprises [21][22]. Future Development Goals - Guizhou aims to achieve a GDP of 3 trillion yuan and a per capita GDP exceeding 80,000 yuan by 2026, with a focus on improving urban and rural living conditions and infrastructure [22].

Investment Rating - The report maintains a "Recommend" rating for the transportation sector, emphasizing the value of transportation assets [1]. Core Insights - The port container sector shows relatively good market conditions, with only the port segment outperforming the CSI 300 and transportation indices [4][10]. - The overall performance of transportation assets is average, with highway and railway sectors underperforming [10][11]. - The report highlights a low interest rate environment, which is conducive to capital operations and market activity [20][21]. Monthly Market Performance - In January 2026, the performance of transportation assets was generally average, with only the port sector showing positive growth [4][8]. - The cumulative performance from January 1 to January 27, 2026, showed highways down by 1.50%, railways down by 3.14%, and ports up by 2.96% [10][11]. - The average daily transaction volume for ports increased significantly, while highway transaction volumes decreased [22]. Industry Data - Highway passenger traffic in November 2025 was 961 million, down 2.4% year-on-year, while freight traffic increased by 3.6% [33]. - Railway passenger volume in December 2025 was 323 million, up 8.5% year-on-year, while freight volume decreased by 2.6% [51]. - Port cargo throughput for the four weeks from December 29, 2025, to January 25, 2026, was 1.036 billion tons, up 4.3% year-on-year [60]. Investment Recommendations - The report identifies high-dividend quality stocks in the transportation sector, recommending companies like Sichuan Chengyu and Daqin Railway for their stable growth and high dividend yields [4][19]. - It emphasizes the importance of capital operations and strategic investments in the highway and port sectors to enhance overall performance [29][30].

托运人在列车开车前至少2小时，携带宠物、托运人身份证件、有效期内的《动物检疫合格证明》到高 铁站中铁快运营业部办理托运手续。运输过程中采用高铁专用宠物运输箱，全程存放在高铁快运柜内。 工作人员通过监测系统远程观察宠物状态，按需进行开柜巡视，适当添加饮用水、不予喂食。托运人不 能探视宠物。抵达目的地车站后，中铁快运将在1小时内以短信或电话形式通知托运人领取宠物。 高铁宠物托运服务按运输里程梯次计价，运距1000公里（含）558元/只，运距1000至1500公里（含） 658元/只，1500至2000公里（含）958元/只，2000公里以上1258元/只，同时赠送保额2000元的基础保 险。试点期间，非购票旅客按标准价格执行，对同车次同区间购票旅客给予特定优惠，按标准价格7折 执行。 本报讯（记者 胡子傲）记者从中铁快运了解到，昨起，高铁宠物托运服务试点范围扩大，新增哈尔 滨、沈阳、太原、郑州、合肥、上海、赣州西、珠海、桂林北、银川、西宁等67个车站。当前，可以办 理宠物托运的高铁站总数达到110个，高铁列车由54趟增至170趟，北京共有6个火车站可办理该业务， 分别为北京站、北京西站、北京南站、北京朝阳站、北京 ...

Core Viewpoint - The expansion of high-speed rail pet transportation services aims to enhance convenience and service capabilities for travelers during the Spring Festival travel season. Group 1: Service Expansion - The trial for high-speed rail pet transportation has been expanded to include 67 additional stations, bringing the total number of stations offering this service to 110 [1][3] - The number of high-speed trains available for pet transportation has increased from 54 to 170 [1] Group 2: Service Process - The service reservation method and acceptance process remain unchanged; travelers can book through the 12306 app for trains marked with a "pet" symbol [3] - Passengers can reserve a spot for their pets online, with the earliest booking available for the next day if made before 12 PM, and for the third day if made after 12 PM [3] - A maximum of two healthy pets can be transported per ticket holder, while non-ticket holders can book one pet in advance through the "China Railway Express" WeChat mini-program [3] Group 3: Requirements and Fees - Pet owners must arrive at the high-speed rail station at least two hours before departure with their pets, identification, and a valid animal quarantine certificate [5] - Transportation fees are calculated based on distance, and notifications for pet pickup will be sent via SMS or phone call within one hour of arrival [5]

冬日，沪渝蓉高速铁路武（汉）宜（昌）段，被称为"全球最快高铁"的CR450动车组，穿山越岭、一路 飞驰，再一次稳稳跑出了400公里的运营时速。陈璨说，从2025年8月起，团队人员已经跟随CR450动车 组样车运用考核完成了1500余次"折返跑"安全监测试验任务。 CR450动车组在批量生产、投入运营前，都要进行运用考核，必须在相关指标合格的前提下，跑够60万 公里——相当于绕地球赤道15圈。作为中国高铁的新成员，CR450动车组目前运用考核已近半程，2026 年将会在成渝中线展开更接近运营条件的全面测试，争取早日投入实际运营。 作为中国铁道科学研究院机车车辆研究所副研究员，陈璨和同事们的工作目标"不仅是让车跑起来，更 要让它能稳定、安全、持续地保持400公里的运营时速，考核通过了，才能给列车发证"。试验期间，他 们需要每日跟车测试，只要车动，监测就不能停。 CR450科技创新工程是"十四五"规划102项重大项目之一，国铁集团从2018年开始基础理论研究和技术 论证，到2024年年底发布CR450动车组样车，再到如今的运用考核。7年间，陈璨参与了CR450动车组 研发的全过程。 列车上，陈璨的"工位"也和7有关 ...

Core Points - The last conventional train K303 departed from Guangzhou Station on January 25, marking the station's full transition to high-speed rail [1] - Guangzhou Station, established in 1911, will no longer handle conventional train services as of January 26, with all services moved to Guangzhou Baiyun Station [1] - The station will now connect to multiple high-speed rail lines, operating 208 high-speed trains daily, extending its reach to North, Northwest, and Southwest China [1] - This transformation aligns with the "Five Main and Four Auxiliary" railway hub layout outlined in the "Guangzhou Comprehensive Three-Dimensional Transportation Network Plan (2023-2035)" [1] - Future projects, such as the Guangnan Link Line, will enable a 15-minute connection between Guangzhou Station and Guangzhou South Station, enhancing the transportation network in the Guangdong-Hong Kong-Macao Greater Bay Area [1]

Core Insights - The Guangzhou-Shenzhen-Hong Kong High-Speed Rail (GSHK) has seen a significant increase in passenger flow, with 387 train services operating during peak hours, enhancing the overall capacity of the Greater Bay Area [1][14] - The rail service has adopted a "bus-like" operation model, allowing for frequent departures every few minutes, which energizes the "one-hour living circle" in the Greater Bay Area [4] - The introduction of new ticketing products, such as multi-ride and regular tickets, caters to commuters and business travelers, making travel more convenient and cost-effective [9] Group 1 - The GSHK has upgraded its train services to the Fuxing model, improving the travel experience for passengers and increasing the number of stations in mainland China accessible from Hong Kong to over 100 [5] - The railway department has implemented efficient operational models at stations, such as the "single-direction circulation" and "zone control" at Futian Station, significantly enhancing passenger flow efficiency [12] - Customer service has been improved with staff trained in Cantonese and English, providing precise assistance to travelers [11] Group 2 - The GSHK is positioned as a "golden channel" for promoting connectivity within the Greater Bay Area, characterized by its efficiency, convenience, and comfort [14] - The railway department plans to enhance services during peak travel periods, including the Spring Festival, by increasing manual channels and providing "one-stop" services for key passengers [12] - The overall upgrades and service enhancements reflect a commitment to improving the travel experience and facilitating greater economic and personnel exchanges between Hong Kong and mainland China [5][9]

（来源：工人日报） 本报通讯员 王子楠 摄 零下20摄氏度的凌晨，镐凿冰碎的脆响在幽深隧洞中回荡。石会打冰点的桥隧工们要赶在首趟旅客列车 驶来前，完成管内7座隧道的除冰任务。打冰点的7名职工里，5人是朝气蓬勃的00后。他们带着"新兵蛋 子"的青涩，更有着扎根石会山、不畏艰难的"石头劲儿"，班组老师傅给他们取名"蛋蛋小队"。寒风凛 冽，冰碴刺骨，这群年轻人扛起打冰杆，在太行深处的隧道中用艰辛织密安全网。 1月27日，山西省太原市太焦铁路石会一号隧道内，国铁太原局太原工务段榆社桥隧车间石会打冰点的 桥隧工们正紧张作业。 ...

Core Viewpoint - The 2026 Spring Festival travel season is expected to see over 100 million passengers in the Yangtze River Delta, with significant ticket discounts introduced to facilitate travel during peak times [1][2] Group 1: Ticket Pricing and Discounts - High-speed train tickets from Hefei South to Shanghai are priced as low as 80 yuan for second-class seats [1] - Discounts for certain non-peak travel times and directions can go as low as 20% for both high-speed and regular trains [1] - The Shanghai Railway Group plans to offer 64 discounted return trains, an increase of 4 from the previous year, to ease passenger flow [1] Group 2: Travel Demand and Capacity Management - Popular return train routes to major cities in the Yangtze River Delta are expected to face high demand, leading to "hard-to-get" tickets [2] - The railway department aims to provide more travel options and savings for passengers by offering discounts on return trips where demand is lower [2]