如何破解产业跃升带来的人力资源供需不匹配新矛盾——"就业难"与"招工难"并存？ "你好小智，请为公路港策划一个司机暖心营销活动。"不一会儿，一份包含公路港优势和业务营销策略 的方案就推送到了屏幕上。6月的每一天，这种与传化小智的智能问答，在传化集团下属的传化智联 （002010）都会发生，物流员工的工作方式正悄然改变。 在传化智联化学业务大江东基地，"人工肉眼看"已经变成"AI电子眼算"。工人在MES系统选定产品型号 后，系统即可自动匹配视觉检测模板与校正参数，更可实现单日32次不同规格产品切换。 在传化集团总部大楼，"1+N"模式的客户全景视图，让客户数据的全面整合与深度挖掘变得"触手可 及"。在CRM 系统的帮助下，业务员得以更好地挖掘潜在客户，显著提升销售效率，降低运营成本。 在正处于变革深水区的传化集团，对在岗员工来说，主动拥抱时代变革已经成为习惯。正如记者在大江 东基地所听到的——"打造以安全为基座的稳态生产、以成长为核心的能力矩阵"，正是传化集团对稳就 业、对破解产业跃升带来的人力资源供需不匹配新矛盾的回答。 在实战中塑造多边形战士 初识陈宝，是在传化集团下属的新安股份（600596）。与以往认识 ...

操作上： 品种基本面分析及行情研判： | 品种 | 观点及操作建议 | 方向研判 | 分析师 | 联系人 | | --- | --- | --- | --- | --- | | 股指 | 陆家嘴论坛开幕提振政策预期 海外地缘政治扰动尚未平息，但 A 股已反弹企稳，展现出韧 | | 投资咨询部 | | | | 周二 A 股窄幅震荡，沪深两市成交额维持在 1.24（前值 1.24） | | | | | | 万亿元左右。从行业来看，金融、煤炭等红利板块收涨，医药、传 | | | | | | 媒行业跌幅居前。股指期货随现货窄幅整理，IH、IM 收涨，IF、IC | | | | | | 收跌，各期指基差进一步走强，IC、IM 当月合约基差基本收敛。 | | 张舒绮 | 联系人：房紫薇 | | | | | 从业资格： | 021-80220135 | | | | 震荡偏强 | | | | | 性，但当前基本面暂无新增利好，市场仍处于存量博弈状态，主题 | | F3037345 | 从业资格： | | | 轮动仍将持续。政策方面，2025 年陆家嘴论坛将于今日开幕，在 | | 投资咨询： | F03121473 | | | ...

在湖北三宁化工股份有限公司现代化厂区，DCS实时跳动着数以万计的生产数据，5G信号如无形的纽 带串联起人、机、物的深度协同。这幕工业4.0的生动图景背后，是三宁化工智能工厂推进办公室主 任、高级工程师、高级技师杨文华37年如一日的执着坚守。 在自动化控制领域，针对循环流化床锅炉脱硫工艺中脱硫塔入口烟气二氧化硫浓度超标波动、氨水浓度 实时监测滞后等行业性难题，杨文华通过全维度运行数据采集与深度算法分析，精准锁定燃料低热值波 动、烟气流量突变等核心影响因子。他依托先进过程控制软件平台，创新性构建了"动态预测—智能调 节"双闭环控制模型。该技术方案使脱硫塔出口二氧化硫浓度控制精度每立方米提升至±15毫克，彻底杜 绝了因吸收不完全导致的环保超标风险。 破局攻坚创新 创造更大价值 提升气化炉的运行效率是一道行业难题。国内气化装置普遍存在能耗高、煤浆浓度控制不稳等问题，三 宁化工也面临同样挑战。 2025年3月，杨文华主动请缨，在内蒙古伊泰集团等行业标杆企业的戈壁滩装置现场，采用白天实操跟 学、夜间笔记复盘 的调研模式，掌握了先进的工艺控制技术。 回到三宁化工生产现场后，杨文华带领团队创新构建 "大数据建模+智能控制"双 ...

1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints of the Report - The allocation value of stock indices continues to increase, with a clear upward trend in the long - term. It is recommended to buy IF and IM far - month contracts on dips [1]. - The intention to protect liquidity in the bond market is clear, and the expectation of the bond market has slightly improved, but it is difficult to form a trend - based market [1]. - For precious metals, the short - term gold price is expected to be volatile, and the medium - to - long - term price center will rise. It is advisable to buy on dips or hold short out - of - the - money put options. Silver has a high probability of upward valuation repair [4]. - For base metals, copper, aluminum, and nickel prices are expected to be range - bound, while alumina prices are expected to be weakly volatile [4]. - For energy and chemical products, crude oil prices have limited upside potential and will maintain high volatility; methanol and polyolefin prices are expected to decline [10]. - For building materials, the prices of soda ash and glass are expected to be weakly volatile, and it is recommended to hold short positions [8]. - For steel and coal, the prices of steel products, iron ore, coking coal, and coke are expected to be volatile, with a weakening trend [5][8]. - For agricultural products, cotton prices are expected to be range - bound, and rubber prices are expected to be weakly volatile [10]. 3. Summary by Variety Stock Indices - Last week, the A - share market was strong, with communication and non - ferrous metals leading the gains, and home appliances and automobiles leading the losses. The trading volume on Friday decreased slightly to 1.18 trillion yuan. - In June, the A - share market started well, with technology stocks driving market sentiment and slightly boosting trading volume. - Overseas macro uncertainties have reduced global economic growth expectations, but Chinese assets have attracted the attention of foreign institutions. - The upward trend of stock indices is clear, but short - term breakthroughs require an increase in trading volume. It is recommended to buy IF and IM far - month contracts on dips [1]. Bonds - The central bank's intention to protect the market is clear, and the early announcement of repurchase operations has boosted market confidence. - Last Friday, bond futures closed higher. After the China - US call, China - US economic and trade consultations will be held in London. - The macro situation is uncertain, and the bond market is difficult to form a trend - based market. Short - term market conditions are mainly affected by liquidity [1]. Precious Metals - Gold: The short - term price is expected to be volatile, and the medium - to - long - term price center will rise. It is advisable to buy on dips or hold short out - of - the money put options. - Silver: The gold - silver ratio is high, and the valuation of silver is low. If the gold price remains strong, the probability of upward valuation repair of silver increases. It is advisable to hold short out - of - the money put options [4]. Base Metals Copper - Last week, copper prices fluctuated within a range. Macro uncertainties remain high, and the supply of copper ore is still tight. - The demand is affected by macro uncertainties and the domestic consumption off - season. - LME inventories are decreasing, while COMEX and SHFE inventories are increasing. Copper prices are expected to remain range - bound [4]. Aluminum and Alumina - Alumina: The supply is uncertain, but the short - term impact is weakening. The resumption of production is expected to increase supply pressure, and prices may continue to run close to the cost line. - Aluminum: The supply is constrained, with support at the bottom, but the demand policy is uncertain, and the directional driving force is limited [4]. Nickel - The supply of nickel ore is gradually recovering, and the supply of refined nickel is in excess. The demand from the stainless steel and new energy sectors is weak. - The price of nickel is expected to remain range - bound, and it is advisable to hold short call options [4]. Energy and Chemical Products Crude Oil - The US non - farm payrolls data exceeded expectations, and geopolitical disturbances continue. The number of US oil rigs has decreased significantly. - The demand for gasoline and diesel in the US is lower than expected. Oil prices have limited upside potential and will maintain high volatility [10]. Methanol - Overseas methanol plant operating rates have increased, and the price of thermal coal is stable. - Affected by positive factors such as the recovery of olefin plant demand and China - US talks, methanol futures prices have rebounded, but further upside is limited [10]. Polyolefins - The production of polyolefins has increased slightly, and more production capacity is expected to resume this week. - Downstream industries are entering the off - season, and the operating rate is decreasing. It is recommended to pay attention to the opportunity of going long the L - PP spread [10]. Building Materials Soda Ash - The production of soda ash is expected to increase in June, while demand is weak. The supply is relatively loose, and inventory is high. - It is recommended to hold short positions in the SA509 contract and go short on rebounds near the cash cost line [2][8]. Glass - The glass market has entered the off - season, with weak demand and high inventory. - It is recommended to hold short positions in the FG509 contract and consider long - short spread strategies [8]. Steel and Coal Steel Products - The spot prices of steel products are weak, and demand has entered the off - season. - The results of the China - US trade negotiations will affect market sentiment. It is recommended to hold short call options for rebar and short positions for hot - rolled coils [5][8]. Iron Ore - The static supply - demand structure of imported iron ore is healthy, but the supply is expected to increase seasonally, and demand may decline. - It is recommended to hold the 9 - 1 positive spread combination or short the I2601 contract with a stop - loss [5][8]. Coking Coal and Coke - The supply of coking coal is in excess, and the price rebound is not sustainable. - The demand for coke is weak, and the price is under pressure [8]. Agricultural Products Cotton - The weather in the Xinjiang cotton - producing area is normal, and downstream demand is gradually recovering. - It is advisable to hold positions patiently and wait for a breakthrough in the price range [10]. Rubber - The supply of rubber is increasing, while demand is decreasing. The price is expected to be weakly volatile [10].

本文字数：2097，阅读时长大约4分钟 作者 | 第一财 经 王媛丽 一场化工事故引发的K胺涨价风暴，推动联化科技成为资本市场"妖股"。自5月23日起，联化科技 （002250.SZ）股价在10个交易日内翻倍，8天录得6个涨停板。 2025.06. 09 6月9日，因创新药概念，联化科技早盘再次强势封板，股价报收14.08元。2024年联化科技营收同 比下滑11.88%，靠医药业务毛利率大幅增长勉强扭亏，而相关医药产品收入却出现同比下滑。 当K胺涨价的故事遇上医药转型的预期，当游资博弈的热度撞上业绩兑现的不确定性，联化科技的股 价狂欢究竟是"价值重估"还是击鼓传花？ 8天6板，10个交易日股价翻倍 连发3则股价异动公告，联化科技6月9日开盘再次强势封板涨停，录得8天6板。自5月23日行情启动 以来，联化科技股价连续10个交易日内收盘价格涨幅偏离值累计超过100%，已触及交易所严重异 常波动情况。 5月27日，山东高密友道化学爆炸事故导致其停产，友道化学是全球氯虫苯甲酰胺原药的主要生产 商，其停产直接导致核心中间体K胺供应锐减，推动K胺价格从事故前的15万元/吨飙升至23万-25 万元/吨。联化科技作为全球最大 ...

新华社北京6月9日电题：黄河流域3省涉水资源问题突出 中央生态环保督察公开通报 ——虚报节水工作等相关数据。 在山西，一些地方违规取水屡查屡犯。晋中市井安供水公司2021年9月获批取用张村河、张涧河地表 水，来源为河道上游煤矿弃水，许可取水量为330万立方米/年。经核实，上游煤矿许可取（排）水总量 仅118.6万立方米/年。井安供水公司2023年、2024年取水量远超上游煤矿排水总量，张涧河地表径流受 到影响，目前取水口以下河段呈断流状态。 同时，吕梁市文水县金鹏焦化公司2023年1月至2025年3月共违规取用地表水95.2万立方米。晋中介休市 昌盛煤气化公司一焦化项目未按取水许可要求使用中水，违规取用地下水97.5万立方米、地表水30.6万 立方米。 ——地方部门违规审批。 《地下水管理条例》规定，禁止开采难以更新的地下水。督察发现，陕西有色金属控股集团美鑫产业投 资有限公司长期无证取用难以更新的深层地下水。2025年3月6日，铜川市行政审批服务局违规为其发放 地下水取水许可证。3月12日，督察暗查发现问题后，该局当天紧急撤销企业的地下水取水许可证。 同时，铭帝集团有限公司所在区域自2014年以来已属于公共 ...

姚桥工业园内，新建的高楼路与镇一路平坦开阔，两侧整齐伫立的路灯与道路两旁排列的厂房相互 映衬，展现出工业园蓬勃发展的新风貌。 5月28日，镇江经开区圌山脚下，韩桥路道路整治工程现场，挖掘机轰鸣，一条双向四车道沥青路 由东向西持续改造升级。同时，在姚桥工业园，刚刚竣工的高楼路与镇一路已投入使用，崭新的道路设 施成为园区新名片。这是经开区城乡建设局践行"诚（城）心帮·简（建）易办"心级服务模式，以道路 建设助推企业发展的生动实践。 在韩桥路道路整治工程中，经开区城乡建设局进一步深化服务理念，提前介入，主动对接沿线巴斯 夫、金东等大型企业的通行需求。 施工现场大型货车穿梭不断。"考虑到重载需求，我们特别加厚了水稳结构，由两层增加至三层， 达56厘米，同时铺设高模量沥青这一新材料来增强路面抗车辙能力。"韩桥路道路整治监理负责人李守 勇介绍。 "去年铺设完成的韩桥路（圌山路-拥军路段），让企业形象得到大幅提升，得到了企业员工的一致 认可。"奇美化工工程师薛飞笑着说，今年临江路-圌山路建成通车后，将进一步为周边企业营造更具竞 争力的发展环境，有效降低企业物流运输风险，增强企业吸引外资、拓展市场的信心。 从昔日的坑洼不平道 ...

"'真金白银'的税费优惠为我们研发新产品提供了动力，去年我们将税收优惠资金全部投入技术升级与 产品创新中，公司现在已进入'政策支持—企业发展—利税增长'的良性循环。"开封联昌药业有限公司 董事长宋恒志介绍。 税收一头连着国家，一头连着企业、百姓。为助力民营企业抢占发展制高点，开封税务部门积极开 展"问需解难"走访活动，结合企业所得税汇算清缴、电子税务局操作实务等发现的问题，为民营企 业"量身定制"税费优惠政策"大礼包"和税收辅导"小课堂"，帮助民营企业算清算细政策红利账。 下一步，开封税务部门将结合实际，找准税收服务民营企业发展战略定位，进一步贯彻执行深化税收改 革措施，为民营企业提供更加公平、透明、便利的税收环境，让民营经济创新源泉充分涌流、创造活力 充分迸发。（书童 刘沙） 坐落于开封市禹王台区的河南盛宏丰化工有限公司是一家集科研、生产制造及销售于一体的高新技术企 业，主要产品为甲醇钠甲醇溶液、甲醛溶液，是亚洲最大的液体甲醇钠生产企业。 成绩的取得离不开税务部门的扶持与帮助。在政策辅导上，禹王台区税务局定期举办培训，帮助企业准 确理解和运用最新政策。在办税服务方面，当地税务局工作人员通过"征纳互动"提供" ...

Core Viewpoint - The signing of a comprehensive strategic cooperation agreement between Transfar Group and Daikin marks a significant shift from traditional collaboration to deep cooperation in research, production, and sales, focusing on the development of non-fluorinated waterproof agents and exploring new materials in various industries [5][6]. Group 1: Strategic Cooperation - The agreement emphasizes joint research and development, customer demand response, and multi-field technical collaboration [5]. - A joint research and production project for non-fluorinated waterproof agents will be established, aiming for rapid market response [5]. - The partnership aims to extend beyond the textile sector into broader markets and emerging industries [5]. Group 2: Company Background - Transfar Group, founded in 1986, has evolved into a diversified, multi-brand, and global industrial group with businesses in chemicals, logistics, technology, and agriculture [6]. - The company ranks 57th among China's top private enterprises and 180th among China's top enterprises, with sales covering over 130 countries and regions [6]. - Transfar has two listed companies and numerous high-tech and specialized enterprises under its umbrella [6]. Group 3: Leadership Statements - Daikin's chairman expressed the intention to leverage their technological and brand advantages for deeper collaboration with Transfar [5]. - Transfar's vice president highlighted the goal of expanding cooperation and enhancing value creation for the industry [5]. - Both companies acknowledged the importance of trust and communication in their 30-year partnership and committed to furthering their collaboration for sustainable industry development [6].

中信建投 周期红利周周谈第 19 期 20250525 摘要 4 月房地产开发投资额同比下降 11.5%，降幅扩大，新开工面积和竣工 面积分别同比下降 22%和 28%，土地市场集中于核心城市，一线城市 宅地出让溢价率为 14%，二线城市为 18%。未来全国投资好转需销售 端向土地端传导。 1-4 月广义基建投资增速为 10.85%，较 1-3 月略降 0.65 个百分点，为 去年下半年以来首次轻微下降。能源相关投资放缓，大基建项目仍处低 位，但政府性基金支出增速高达 17.7%，万德百城土地成交数据同比增 长 22%，显示政府资金逐步到位，对基建有一定支撑。 上周 REITs 全收益指数上涨 1.2%，中证 REITs 指数创近年来新高。产 权类和经营权类涨幅均超 2%。华泰苏州恒泰租赁住房 REIT 上市后连续 四天涨幅超过 50%，体现了政策性保租房项目的高估值和热度。 REITs 市场上涨主要因资金配置需求加强及银行降低存款利率，未来市 场利率下降将为 REITs 估值突破提供空间。一季度消费和保障性租赁住 房运营稳定，高速公路车流量和通行费 4 月修复良好，但部分高速公路 项目面临压力。预计上半年高 ...