证券研究报告 | 北交所定期报告 | | --- | hyzqdatemark 2025 年 07 月 06 日 赵昊 SAC：S1350524110004 zhaohao@huayuanstock.com 万枭 SAC：S1350524100001 wanxiao@huayuanstock.com 北证专精特新指数正式亮相，北证 50 指数上半年涨幅领跑全市场指数 证券分析师 ——北交所周观察第三十三期（20250706） 投资要点： 风险提示：宏观经济环境变动风险、市场竞争风险、资料统计误差风险 请务必仔细阅读正文之后的评级说明和重要声明 联系人 2025 年 6 月北证 50 指数涨幅 2.73%，上半年涨幅 39%远跑赢其他主要指数。2025 年 6 月，北证 50 指数（+2.73%），石油石化、传媒、交通运输等涨幅居前。2025 年 6 月共 有 31 家公司涨幅达到或超过 20%，其中九菱科技、同辉信息、远航精密、七丰精工、科 力股份、路桥信息和奔朗新材 7 家公司涨幅超 40%。2025 年上半年北证 50 指数涨幅 （+39%）远跑赢其他主要指数，除此之外科创 200、中证 2000 等指数 ...

Group 1 - MetaLight, a leading provider of intelligent time-series data services in the public transportation sector, has successfully listed on the Hong Kong Stock Exchange with an issue price of HKD 9.75, raising HKD 242 million [1] - On its debut, MetaLight's stock price experienced significant volatility, opening at HKD 7.6 before rebounding to stabilize the company's market capitalization at approximately HKD 1.1 billion [1] - The company has expanded its user base significantly, reaching approximately 298.4 million users by the end of 2024, making it a preferred choice for commuters seeking real-time bus information [1] Group 2 - MetaLight has shown steady revenue growth, with revenues increasing from HKD 135 million in 2022 to HKD 174 million in 2023, and projected to reach HKD 206 million in 2024 [3] - The company maintains a high gross margin, indicating strong cost control and product profitability, which supports its ongoing development [3] - The successful listing marks a significant milestone in MetaLight's development, with future potential to leverage capital market resources to expand market share and enhance technological capabilities [3]

为切实做好本轮高温天气防范应对工作，全力确保防灾减灾和安全生产形势稳定，山东省防减救灾委办 公室、省政府安委会办公室7月5日发布关于做好持续高温天气防范应对工作的通知，要求高度重视持续 高温天气防范应对工作。 通知指出，本轮高温天气持续时间长、影响范围广、涉及领域多，对生产生活秩序影响大，特别是持续 高温容易引发生产安全事故。各级、各部门要清醒认识高温天气造成的风险危害，坚持人民至上、生命 至上，树牢底线思维、极限思维，以"时时放心不下"的责任感抓好本轮持续高温天气防范应对各项工 作。要做到工作到位、人员到位、措施到位，守住守牢高质量发展安全底线，坚决避免高温天气引发生 产安全事故。 建筑施工领域要督促企业合理调整作业时间，避开高温时段施工，日最高气温达到40℃以上时，要停止 露天室外作业。 高温天气，有毒有害气体容易聚集，要认真组织实施进一步强化有限空间作业安全整治严防中毒窒息事 故专项行动，严格落实"先通风、后检测、再作业"等安全技术规程或作业要求。特种设备、电力、燃 气、工贸、民政、农业农村、民爆等其他行业领域要结合实际，严格执行高温条件下安全生产各项规 定，严防各类事故发生。（记者 杨成） 危化品领域 ...

Core Insights - The article highlights the transformation of healthcare and transportation services in Beijing through digital technology, improving user experience and operational efficiency [1][4]. Healthcare Sector - The Beijing appointment registration platform allows users to easily book appointments at 299 hospitals, check imaging reports online, and conduct follow-up consultations [1]. - Since its launch, the platform has served over 20 million users and provided 150 million outpatient services, with a 25% increase in primary care visits and a 20% reduction in idle appointment slots [4]. - The implementation of an AI model to combat scalping has led to the banning of 70,000 accounts, a 10% decrease in patient complaints, and a satisfaction rate exceeding 95% [4]. Transportation Sector - The article describes the integration of autonomous vehicles in Beijing's demonstration area, supported by a "vehicle-road-cloud" application that enhances the safety and efficiency of transportation [4]. - Smart traffic lights equipped with sensors can adjust their timing based on real-time traffic data, optimizing traffic flow and increasing vehicle speed [5]. - Over 1,000 smart intersections exist in the demonstration area, with the information control platform optimizing traffic light timing up to 35,000 times daily, resulting in improved road capacity [5]. Recognition and Future Outlook - Both the healthcare appointment platform and the vehicle-road-cloud application were recognized as "Top Ten Benchmark Applications" at the 2025 Global Digital Economy Conference, emphasizing their technological leadership and human-centered approach [5].

证券研究报告 行业研究 [Table_ReportType] 行业周报 [Table_StockAndRank] ESG 投资评级 —— 上次评级 —— 欧盟委员会提出《欧洲气候法》修订案，设定 2040 年减排目标 [Table_Industry] ESG 周报 [Table_ReportDate] 2025 年 07 月 05 日 [Table_Author] [Table_Author] 左前明 能源行业首席分析师 执业编号：S1500518070001 联系电话：010-83326712 邮 箱：zuoqianming@cindasc.com 郭雪 环保联席首席分析师 执业编号：S1500525030002 邮 箱：guoxue @cindasc.com 吴柏莹 环保行业分析师 执业编号：S1500524100001 邮 箱：wuboying@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦 B座 邮编：100031 [Table_Title] 欧盟委员会提出《欧洲气候法》修订案，设定 2040 年减排目标 [T ...

7月4日，湛江市公共交通集团有限公司2025年纯电动车城市客车采购项目招标公告发布。公 告显示，本采购项目划分四标段进行，车辆需求总数量为78辆，预算金额为6154万元。投标 人可对其中一个或多个标段进行投标，可兼投兼中，本项目按标段1至标段4的顺序逐个评 审。子标段是投标的最小单位，投标人应对同一个子标段的全部货物和服务投标。 | 标段 | 货物名称 | 数量 | 最高单价限价 | 预算金额 | | --- | --- | --- | --- | --- | | 言 | | (辆) | (含税,万元/辆) | (含税,万元) | | 1 | 6 米以下纯电动城市客车 | 38 | 63 | 2394 | | 2 | 8.5 米级纯电动城市客车 | 20 | 87 | 1740 | | 3 | 9 米以下纯电动城市客车 | 10 | 92 | 920 | | 4 | 48 座纯电动城市客车 | 10 | 110 | 1100 | | 合计 | 78 | 6154 | | --- | --- | --- | | 备注:投标人可对其中一个或多个标段进行投标,可兼投兼中,本项目按标段１ | | | | 至标段 4 ...

Core Insights - The article highlights the rapid development of intercity metro systems in China, which are enhancing regional integration and improving urban connectivity [5][10][12] Group 1: Overview of Intercity Metro Development - By the end of 2024, 54 cities in China will have operational urban rail transit lines, totaling 1.09 million kilometers and 6,324 stations, with daily passenger volumes exceeding 2.6 million [5][6] - The intercity metro lines are primarily concentrated in the Yangtze River Delta and the Guangdong-Hong Kong-Macau Greater Bay Area, facilitating significant commuter traffic [6][10] Group 2: Specific Projects and Their Impact - The Beijing Metro Line 22, which connects Hebei's Yanjiao to Beijing, is currently under rapid construction, expected to reduce travel time to the city center significantly [2][4] - The Guangzhou-Foshan metro line, operational since 2010, has become a vital transportation artery, with daily ridership projected to reach 1.896 million by 2024 [3][10] Group 3: Integration and Connectivity - The seamless transfer between Shanghai and Suzhou metro lines exemplifies successful intercity connectivity, allowing passengers to switch lines without exiting the station [7][8] - The establishment of collaborative management frameworks between cities is crucial for the effective operation of intercity metro systems, ensuring safety and efficiency [8][9] Group 4: Future Prospects and Strategic Goals - The Chinese government aims to add 3,000 kilometers of intercity and suburban rail lines by 2025, as part of the broader "14th Five-Year Plan" [12][13] - The integration of metro systems with other transport modes is a priority, aiming to create a comprehensive and convenient transportation network [13]

Group 1 - The establishment of diplomatic relations between China and Colombia marks its 45th anniversary, with Colombia officially joining the high-quality co-construction of the "Belt and Road" initiative in May [2] - Bilateral trade between China and Colombia is projected to exceed $19.3 billion in 2024, representing a growth of over 1900 times compared to the initial years of diplomatic relations [2] - Colombia aims to enhance agricultural exports to China and seeks to attract more Chinese investments in agriculture, technology, and ecological protection [2] Group 2 - Chinese companies are involved in constructing the Bogotá Metro Line 1, which is the largest infrastructure project in Colombia's history [3] - A new shipping route connecting Shanghai, Peru's Chancay Port, and Colombia's Buenaventura Port was launched in February, further promoting economic cooperation and job creation in Colombia [3] - There is significant potential for agricultural technology cooperation between China and Colombia, particularly in the processing of specialty agricultural products like coffee and cocoa [3] Group 3 - The China-Latin America Forum, which has been operational for 10 years, serves as a crucial platform for regional integration and cooperation between Latin American countries and China [4] - Strengthening collaboration between Latin America and China can enhance the representation and voice of the Global South in global governance [4] - The relationship between Latin America and China is expected to deepen, with ongoing efforts to promote development agendas and enhance global dialogue [4]

Group 1 - The core viewpoint is that there are different types of maglev trains categorized by speed: low-speed, medium-speed, high-speed, and ultra-high-speed [1][2] - High-speed maglev trains can reach speeds of 400 to 600 kilometers per hour, while low-speed maglev trains operate at around 100 kilometers per hour and medium-speed trains at 200 kilometers per hour [2] - China currently has three commercial low and medium-speed maglev lines: the Changsha Maglev Express opened in 2016, the Beijing S1 line opened in 2017, and the Fenghuang Maglev Sightseeing Express opened in 2022 [2] Group 2 - Ultra-high-speed maglev trains can exceed speeds of 1000 kilometers per hour and are also referred to as "super high-speed trains," which utilize vacuum tubes and magnetic levitation technology [3] - By the end of 2023, China will complete its first ultra-high-speed low vacuum tube maglev system capable of reaching speeds of 1000 kilometers per hour [3] - The "high-speed flying train" employs superconducting magnetic levitation technology to eliminate friction and reduce air resistance, potentially achieving speeds beyond 1000 kilometers per hour, with future possibilities of reaching 3000 to 4000 kilometers per hour [3] Group 3 - Concerns about the safety of maglev trains, particularly regarding derailment in case of power failure, are addressed by experts who confirm that the design prevents derailment even during sudden power outages [4] - The high-temperature superconducting technology used in maglev trains ensures that the magnetic field remains stable for up to two hours after a power failure, allowing the train to reach a safe area [4] Group 4 - There are concerns about electromagnetic radiation from maglev trains; however, experts indicate that the radiation levels are significantly lower than those from common household devices [5] - The electromagnetic radiation from maglev trains is only one-tenth of the World Health Organization's safety threshold, making it less than that of a household hairdryer [5]

Group 1 - The core project involves the design of road repair and maintenance for 109.469 kilometers of national and provincial roads in Tai'an, with a contract value of 5.791 million yuan [1][5]. - The project is approved by the Tai'an Highway Development Center and is fully funded by state-owned funds, with a 100% contribution ratio [5]. - The winning company, Shandong Taishan Transportation Planning and Design Consulting Co., Ltd., is a state-owned enterprise under the Tai'an Transportation Development Investment Group, specializing in transportation engineering planning, consulting, and design [5][6]. Group 2 - The project has a construction period of 40 calendar days [1][4]. - Shandong Taishan Transportation Planning and Design Consulting Co., Ltd. was established in 2002 and has obtained both Class B and Class A design qualifications in the transportation sector [5][6]. - The company is gradually expanding its services into municipal and architectural sectors, indicating growth and diversification in its business operations [5].