证券代码：600377 证券简称：宁沪高速 公告编号：2025-030 江苏宁沪高速公路股份有限公司 ? 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 6 月 27 日的2024年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 每股分配比例 A 股每股现金红利0.49元 ? 相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/29 | － | 2025/7/30 | 2025/7/30 | | （1）对于持有本公司 A 股的自然人股东（含证券投资基金），根据《关于上市公司股息 红利差别化个人所得税政策有关问题的通知》（财税2 ...

证券代码：601107 证券简称：四川成渝 公告编号：2025-029 债券代码：241012.SH 债券简称：24 成渝 01 债券代码：102485587 债券简称：24 成渝高速 MTN001 四川成渝高速公路股份有限公司 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 （一）四川成渝高速公路股份有限公司（"公司""本公司"）第八届监事 会第二十八次会议于 2025 年 7 月 17 日在四川省成都市武侯祠大街 252 号本公司 住所二楼 223 会议室以现场及通讯表决相结合的方式召开。 （二）会议通知、会议资料已于 2025 年 7 月 8 日以电子邮件和专人送达方 式发出。 （三）出席会议的监事应到 4 人，实到 4 人。 （四）会议由监事李桃女士（代行监事会主席职务）主持，公司董事会秘书 及财务总监列席了会议。 （五）会议的召开符合《公司法》和本公司《公司章程》的有关规定。 二、监事会会议审议情况 会议审议通过了如下议案： 审议通过了《关于审查同意投资成雅高速公路扩容项目暨关联交易的议案》 ...

Core Viewpoint - Sichuan Chengyu Highway Co., Ltd. has been selected as the first candidate for the G5 Jingkun Expressway Chengdu to Ya'an section expansion project, with an estimated total investment of approximately RMB 28.548 billion, of which the company's contribution will be about RMB 4.902 billion, accounting for 85% of the project's capital [1][3][17]. Summary by Sections Project Overview - The project involves a consortium with China Huaxi Enterprises Co., Ltd., Sichuan Transportation Construction Group Co., Ltd., Sichuan Highway and Bridge Construction Group Co., Ltd., and Sichuan Gaolu Information Technology Co., Ltd. [1][3] - The total estimated investment for the project is approximately RMB 28.548 billion, with the project capital accounting for 20.20%, approximately RMB 5.767 billion [3][17]. Related Transactions - The transaction constitutes a related party transaction but does not qualify as a major asset restructuring under relevant regulations [2][3]. - The company has adhered to the necessary disclosure procedures and the transaction has been approved by the board of directors, with related directors abstaining from voting [2][4][21]. Financial Contributions - The capital contributions from the consortium members are as follows: Sichuan Chengyu will contribute approximately RMB 4.902 billion (85%), China Huaxi will contribute about RMB 577 million (10%), Sichuan Transportation Construction Group will contribute about RMB 173 million (3%), and the other two members will each contribute about RMB 58 million (1%) [3][17]. Project Significance - The Chengdu to Ya'an Expressway is a crucial part of the national G5 Jingkun Expressway, serving as an important transportation route in Sichuan province and enhancing connectivity between major cities [13][14]. - The expansion project aims to alleviate traffic congestion and improve the overall traffic capacity of the expressway, which is essential for regional economic development [14][17]. Approval Process - The project requires further approval from the company's shareholders' meeting, with related parties abstaining from voting to ensure compliance with regulations [2][21]. - The independent directors have expressed that the transaction aligns with the company's development strategy and does not harm the interests of shareholders, particularly minority shareholders [21][22].

证券代码：600350 证券简称：山东高速 公告编号：2025-056 山东高速股份有限公司 关于股份回购实施结果暨股份变动的公告 份的回购报告书》（公告编号：2025-049）。 二、 回购实施情况 的公告》(公告编号：2025-054)。 累计回购公司股份 18,849,280 股， 占公司目前总股本的 0.39%，回购最高价格为 为人民币 200,003,509 元 (不含交易费用)。 公司本次回购股份符合相关法律法规的规定及公司回购股份方案的要求。本 次回购方案实际执行情况与已披露的回购方案不存在差异，公司已按披露的方案 完成回购。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 回购方案首次披露日 2025/4/30，由董事长提议 回购方案实施期限 2025 年 6 月 6 日~2026 年 6 月 5 日 预计回购金额 2亿元~3亿元 回购价格上限 15.45元/股 √减少注册资本 回购用途 □用于员工持股计划或股权激励 □为维护公司价值及股东权益 实际回购股数 18,849,280股 实际回购股数 ...

Group 1 - Company Wantuo Expressway has won the bid for the S98 Quanqiao to Lukou Expressway project in Anhui, with an estimated investment of 5.05 billion yuan and a construction period of 1095 days [1] - The project will be operated under a BOT model with a concession period of 356 months, and is expected to start construction by the end of 2025 and be completed by the end of 2028 [1] Group 2 - Shanghai Rural Commercial Bank has received approval for the appointment of its vice president, Zhang Lingling, by the National Financial Regulatory Administration [2] - The bank focuses on corporate banking, personal banking, and financial market services [2] Group 3 - Saintno Biopharmaceutical has received a drug registration certificate for Acetate Ganirelix Injection, aimed at women undergoing controlled ovarian stimulation [3] - The company specializes in the research, production, and sales of peptide raw materials and formulations [3] Group 4 - Chengdu Bank has received regulatory approval for its chief economist's appointment [4] - The bank's main business includes corporate finance, microfinance, personal finance, and financial market services [4] Group 5 - Funeng Technology has received a notification from GAC Group for the development of battery pack components, with supply expected to start within the year [5] - The company specializes in comprehensive energy solutions, focusing on the research, production, and sales of power batteries and systems [5] Group 6 - Binjiang Group has successfully acquired land use rights for a residential plot in Hangzhou, covering an area of 36,500 square meters with a total price of 1.53 billion yuan [6] Group 7 - Anfu Technology reported a net profit of 107 million yuan for the first half of 2025, a year-on-year increase of 14.38% [8] - The company specializes in the research, production, and sales of batteries [8] Group 8 - Microelectrophysiology expects a net profit increase of 76.34% to 105.73% for the first half of 2025, with projected revenue of 215 million to 230 million yuan [13] - The company focuses on innovative medical devices in the field of electrophysiology [13] Group 9 - China Nuclear Power plans to invest 500 million yuan to establish a wholly-owned subsidiary for energy project development in Shandong [10] - The company specializes in power generation, including nuclear and renewable energy [10] Group 10 - Pumen Technology has received IVDRCE certification for seven electrochemical luminescence reagents, expanding its certified product range to 27 [23] - The company specializes in in vitro diagnostics and clinical medical products [23] Group 11 - ST Jiatou has had part of its subsidiary's assets frozen due to financial difficulties, with the freeze lasting until March 30, 2028 [24] - The company focuses on natural gas utilization and related services [24] Group 12 - China Electric Power Construction has signed new contracts worth 686.699 billion yuan in the first half of 2025, a year-on-year increase of 5.83% [33] - The company specializes in engineering contracting and design, power investment, and real estate development [33] Group 13 - Health元 has achieved the primary research endpoint in a Phase III clinical trial for LZM012, a treatment for moderate to severe plaque psoriasis [36] - The company focuses on the research, production, and sales of pharmaceutical products [36] Group 14 - Dalian Shengya is planning to issue shares to specific investors, which may lead to a change in control [54] - The company operates in the tourism and scenic area management sector [54]

皖通高速（600012）公告，公司加入安徽省交通控股集团有限公司牵头组建的联合体，以公开招标方式 中标S98全椒至禄口高速公路安徽段特许经营者项目，中标收费期限356个月。项目估算总投资金额约 为人民币50.5亿元，其中资本金约为人民币10.1亿元。公司投入项目资本金约人民币2.02亿元，所占股 权比例为20%。项目计划2025年完成前期准备工作，2025年底正式开工建设，2028年底建成通车。中标 项目将有助于公司进一步扩张高速公路主营业务规模，提升区域路网竞争力，增加高速公路权益里程， 延长道路资产平均收费期限，符合公司发展战略，有利于提升整体经营业绩和可持续发展能力。 ...

Group 1 - The transportation sector in China has achieved high-quality development during the 14th Five-Year Plan, with multiple indicators reaching global firsts [1] - China has built the world's largest high-speed rail network, with 20 lines operating at speeds of 350 km/h, covering all 31 provinces and sending nearly 10 million passengers daily, accounting for about 80% of total passenger volume [4] - The Beijing-Tianjin-Hebei region has established high-speed rail connections between cities, creating a one-hour transportation circle for the core area and a 1.5-hour circle for neighboring cities [4] Group 2 - Approximately 90% of county-level administrative centers in China can access highways within 30 minutes [5] - During the 14th Five-Year Plan, the Ministry of Transport launched over 9,000 customized passenger transport routes to meet personalized travel needs [7] - The average daily traffic on highways exceeded 70 million vehicles during peak times, with strategies implemented to alleviate congestion [7] Group 3 - China has the world's largest postal and express delivery network, with express delivery volumes ranking first globally for 11 consecutive years [8] - The average daily collection of express parcels exceeds 500 million, equating to nearly 6,000 parcels entering the delivery system every second [10]

Core Insights - The transportation sector in China has achieved significant milestones during the "14th Five-Year Plan" period, establishing the world's largest high-speed rail network and highway network, fundamentally transforming daily life [1][6][30]. Transportation Infrastructure - China has built the world's largest high-speed rail network, with 20 lines operating at speeds of 350 km/h, covering all 31 provinces and serving nearly 10 million passengers daily, accounting for about 80% of total passenger traffic [7]. - The "Eight Vertical and Eight Horizontal" high-speed rail network has been completed and put into operation at 81.5%, with a total operating mileage of 48,000 kilometers, representing over 70% of the world's high-speed rail mileage [30]. - The national comprehensive three-dimensional transportation network connects over 80% of county-level administrative regions, serving approximately 90% of the country's economic and population totals [28]. Urban and Rural Connectivity - Approximately 90% of county-level administrative centers can access highways within 30 minutes, enhancing regional connectivity [4][6]. - The construction of urban agglomerations and metropolitan areas is accelerating, with the Beijing-Tianjin-Hebei region achieving high-speed rail connectivity between all cities, creating a "1-hour traffic circle" [7]. Logistics and Delivery Services - China has established the world's largest postal and express delivery network, maintaining the highest express delivery volume globally for 11 consecutive years, with over 500 million packages collected daily [11]. - The average daily traffic of new energy vehicles on highways has increased to about 20%, supported by the construction of 62,000 charging parking spaces, with a coverage rate of 98.4% for service area charging piles [9]. Digital Economy and Internet Penetration - By June 2025, the number of internet users in China is projected to reach 1.123 billion, with an internet penetration rate of 79.7% [12]. - The online retail sales reached 6.04 trillion yuan in the first five months of 2025, maintaining the highest position globally for 13 consecutive years [19]. - The number of short video users has reached 1.068 billion, with micro-short drama users at 626 million, indicating a significant shift towards digital content consumption [21][24].

海南自贸区板块异动拉升，凯撒旅业（000796）涨停，海德股份（000567）涨超7%，康芝药业 （300086）、海南海药（000566）、海南高速（000886）跟涨。近日，《海南自由贸易港跨境资产管理 试点业务实施细则》发布。试点业务支持境外投资者投资海南自贸港内金融机构发行的理财产品、证券 基金期货经营机构私募资产管理产品、公开募集证券投资基金、保险资产管理产品。 "聪明钱"流向曝光！暗盘资金破解主力操盘密码>> ...

1. Report Information - Report Type: Fixed Income Report - Release Time: July 22, 2025 - Analysts: Liang Weichao, Xie Peng [1][2] 2. Core Viewpoints - The weekly report tracks the liquidity scores of individual bonds in different bond sectors based on the bond asset liquidity scores of qb. - For urban investment bonds, short - duration and low - rated high - grade liquidity bonds have increased. Regionally, Shandong, Sichuan, Tianjin, and Chongqing remained stable, while Jiangsu decreased. In terms of maturity, high - grade liquidity bonds within 1 year, 1 - 2 years, and over 5 years increased, while those in 2 - 3 years and 3 - 5 years decreased. In terms of implied ratings, the number of high - grade liquidity bonds with an implied rating of AAA remained stable, those with AA+ and AA decreased, and those with AA(2) and AA - increased. - For industrial bonds, the number of low - rated high - grade liquidity bonds increased. By industry, high - grade liquidity bonds in the coal industry increased, while those in real estate, public utilities, steel, and transportation remained stable. In terms of maturity, high - grade liquidity bonds within 1 year, 2 - 3 years, and 3 - 5 years increased, while those in 1 - 2 years and over 5 years remained stable. In terms of implied ratings, the number of high - grade liquidity bonds with an implied rating of AAA - and AA increased, while those with AAA+, AAA, and AA+ remained stable. [3][8][18] 3. Summary by Directory 3.1 Urban Investment Bonds - **Liquidity Changes**: Short - duration and low - rated high - grade liquidity urban investment bonds increased. Regionally, Shandong, Sichuan, Tianjin, and Chongqing remained stable, Jiangsu decreased. In terms of maturity, high - grade liquidity bonds within 1 year, 1 - 2 years, and over 5 years increased, 2 - 3 years and 3 - 5 years decreased. In terms of implied ratings, AAA remained stable, AA+ and AA decreased, AA(2) and AA - increased. [8] - **Yield Changes**: Regionally, the yields of high - grade liquidity urban investment bonds in Jiangsu, Shandong, Sichuan, Tianjin, and Chongqing mainly decreased, with a decline of 2 - 5bp. By maturity and implied rating, the yields of high - grade liquidity urban investment bonds mainly decreased, with a small decline of 1 - 2bp. [9] - **Top 20 Ascending Entities in Liquidity Score**: The entity levels are mainly AA, concentrated in regions such as Zhejiang, Sichuan, Tianjin, and Beijing, and the industries mainly involve construction decoration and comprehensive industries. - **Top 20 Ascending Bonds in Liquidity Score**: The bonds are mainly from regions such as Beijing, Hunan, and Zhejiang. - **Top 20 Descending Entities in Liquidity Score**: The entity levels are mainly AA, with regional distributions mainly in Zhejiang, Jiangsu, and Shandong, and the industries are mainly construction decoration, transportation, and real estate. - **Top 20 Descending Bonds in Liquidity Score**: The bonds are mainly from regions such as Jiangsu, Zhejiang, and Shandong. [12][13][15][17] 3.2 Industrial Bonds - **Liquidity Changes**: The number of low - rated high - grade liquidity industrial bonds increased. By industry, high - grade liquidity bonds in the coal industry increased, real estate, public utilities, steel, and transportation remained stable. In terms of maturity, high - grade liquidity bonds within 1 year, 2 - 3 years, and 3 - 5 years increased, 1 - 2 years and over 5 years remained stable. In terms of implied ratings, AAA - and AA increased, AAA+, AAA, and AA+ remained stable. [18] - **Yield Changes**: By industry, the yields of high - grade liquidity bonds in real estate, public utilities, transportation, coal, and steel mainly decreased, with the decline concentrated in 1 - 4bp; the yield of real estate decreased by more than 10bp. By maturity, the yields of high - grade liquidity bonds in each maturity mainly decreased, with a decline of 3 - 5bp. By implied level, the yields of high - grade liquidity bonds in each implied level mainly decreased, with the decline concentrated in 2 - 5bp. [20] - **Top 20 Ascending Entities in Liquidity Score**: The industries are mainly construction decoration, public utilities, and commerce, and the entity levels are mainly AAA and AA+. - **Top 20 Ascending Bonds in Liquidity Score**: The industries are mainly transportation and public utilities. - **Top 20 Descending Entities in Liquidity Score**: The industries are mainly construction decoration, public utilities, and commerce and retail, and the entity levels are mainly AAA and AA. - **Top 20 Descending Bonds in Liquidity Score**: The industries are mainly public utilities and transportation. [21][24][27][29][30]