Core Viewpoint - The National Postal Service aims to accelerate technological development in the postal industry through a comprehensive set of guidelines, focusing on innovation, market orientation, and collaboration between academia and industry, with specific targets set for 2027 and 2035 [1][2]. Group 1: Technological Development Goals - By 2027, the postal industry aims to enhance its R&D investment, improve the scale of technology transfer, and significantly elevate the level of innovation [1]. - By 2035, a complete technological innovation system is expected to be established, with enhanced innovation capabilities and a pool of leading talent and research institutions [1]. Group 2: Key Strategies for Innovation - The guidelines emphasize the establishment of a robust R&D system, high-quality technology product systems, and a comprehensive application system for technology transfer [1]. - The postal industry will focus on service innovation, smart development, safety, green initiatives, and management innovation to drive overall industry growth [1][2]. Group 3: Current Industry Trends - The postal industry is increasingly prioritizing artificial intelligence, leveraging vast data resources and application scenarios to enhance operational efficiency across various processes [2]. - Technological innovations are being applied in logistics systems at the county, town, and village levels to support rural revitalization and increase farmers' income [2]. Group 4: Implementation Plans - The National Postal Service plans to strengthen technological innovation during the 14th Five-Year Plan period, focusing on establishing a market-oriented innovation system led by enterprises [3]. - Specific initiatives include the integration of AI in postal services, promoting the use of drones and automated vehicles, and conducting pilot projects for new technologies and models [3].

Manufacturing Sector - The manufacturing PMI for May 2025 is reported at 49.5%, a significant increase of 0.5 percentage points from the previous month, aligning with market expectations[2][4] - The production index rose to 50.7%, up 0.9 percentage points from last month, indicating a recovery in production activities[5][14] - New orders index increased to 49.8%, up 0.6 percentage points, reflecting improved demand conditions[5][14] - High-energy industries continue to decline, with the PMI dropping to 47.0%, down 0.7 percentage points, indicating ongoing challenges in these sectors[6] External Trade - The new export orders index rose to 47.5%, a significant increase of 2.8 percentage points, indicating a recovery in export activities following tariff reductions[21] - The import index increased to 47.1%, up 3.7 percentage points, suggesting improved import conditions[21] Service Sector - The service sector PMI increased slightly to 50.2%, up 0.1 percentage points, remaining in the expansion zone, driven by increased tourism and hospitality activities during the May Day holiday[31] Construction Sector - The construction PMI is at 51.0%, down 0.9 percentage points, indicating a slowdown in expansion primarily due to weakened housing demand, although infrastructure projects are accelerating[35] - Special bond issuance has increased significantly, with 443.2 billion yuan issued in May, up from 230.1 billion yuan in April, supporting investment in infrastructure[35]

Core Viewpoint - The National Postal Service of China has introduced an opinion document aimed at accelerating technological development in the postal industry, focusing on integrating artificial intelligence into various operational scenarios [1] Group 1: Technological Integration - The document emphasizes the creation of benchmark products that combine artificial intelligence with postal services, targeting customer service, production operations, and safety management [1] - Current applications of artificial intelligence in the postal industry include mail collection, sorting, transportation, and delivery processes [1] Group 2: Efficiency and Cost Reduction - The implementation of intelligent security inspection systems in the postal sector has significantly improved inspection efficiency and reduced costs [1] - These advancements are contributing to the effective enforcement of safety inspection protocols for mail and packages [1]

Core Viewpoint - Jiangsu's service industry has shown a strong start in the first quarter, with significant growth in both high-tech and traditional service sectors, contributing to the province's economic development [1][2][3]. Group 1: Service Industry Performance - In the first quarter, Jiangsu's service industry added value reached 18,831 billion yuan, a year-on-year increase of 5.9%, accounting for 56.9% of the regional GDP, an increase of 1.3 percentage points from the previous year [1]. - The accommodation and catering industry saw a value-added growth of 7.5%, while wholesale and retail grew by 7.7%, and profit-oriented services increased by 8.9% [1]. - The contribution rate of the service industry to economic growth was 56.5%, driving a 3.3 percentage point increase in regional GDP [1]. Group 2: Production Service Sector - The revenue of large-scale service enterprises in Jiangsu grew by 8% year-on-year in the first quarter, surpassing the national average by 1 percentage point [2]. - The productive service sector accounted for 68.7% of the revenue from large-scale service enterprises, with a year-on-year growth of 9.9%, contributing 83.6% to the overall growth of the service sector [2]. - Business service revenue increased by 12.5%, contributing 33% to the growth of large-scale service enterprises [2]. Group 3: High-Tech Service Sector - High-tech services have shown strong growth, with e-commerce services leading at a year-on-year increase of 39.8% [3]. - Internet and related services saw a revenue growth of 17.1%, with internet information services and platforms growing by 14.9% and 30.8%, respectively [3]. - The revenue from technology transfer services grew by 27.8%, while research and design services increased by 10.5% [3]. Group 4: Transportation and Financial Services - The transportation network in Jiangsu operated efficiently, with railway passenger volume reaching 74.4 million, a growth of 5.1% [4]. - The total revenue of financial institutions reached 26.7 trillion yuan, with a loan balance of 27.4 trillion yuan, growing at a rate of 10.7% [5]. - The postal network's business volume reached 38.4 billion yuan, with express delivery volume exceeding 3.63 billion pieces, reflecting a growth of 21.1% [5]. Group 5: Telecommunications and Digital Economy - The telecommunications sector reported a total business volume of 34.95 billion yuan, with a steady growth of 5.1% [6]. - By the end of March, the number of internet broadband users reached 49.43 million, growing by 2.6% [6]. - The data indicates a robust integration of the digital economy with the real economy, showcasing the vitality of the service industry in Jiangsu [6].

Core Insights - China Post EMS has completed the private deployment of the DeepSeek-R1 large model, significantly enhancing service capabilities across multiple scenarios, with efficiency improvements of approximately 33% in certain areas [1][2] - The company has been actively exploring suitable applications for large models since 2024, focusing on digital transformation to address specific key issues and cultivate new productive forces [2][3] Digital Transformation and New Productive Forces - The digitalization, greening, and intelligence have become the core of China Post's new productive forces, reshaping the company and enhancing its ability to serve the economy and society [2][3] - The establishment of smart post offices and self-service experiences has improved operational efficiency, allowing a single staff member to manage high customer traffic effectively [4][6] - The introduction of cloud cabinet services by Postal Savings Bank has streamlined banking operations, allowing for an average of over 330 transactions per day from January to September 2024 [6] Technological Innovations - The launch of the upgraded dispatch system 2.0 in 2024 has improved operational efficiency and predictive capabilities, achieving an average accuracy rate of 92.98% for inter-provincial bag volume predictions [7] - The digital human "Xiao Post" 2.0 has been instrumental in e-commerce, generating significant sales and enhancing the company's ability to support rural revitalization [7][12] Investment in Technology - Postal Savings Bank has committed approximately 3% of its annual revenue to information technology, with a reported investment of 11.278 billion yuan in 2023, marking a year-on-year increase of 5.88% [9] - The "Postal Brain" platform has been developed to support various AI applications, enhancing operational efficiency across hundreds of scenarios [9] Green Initiatives - China Post has made strides in green transformation, with a focus on sustainable packaging and the promotion of new energy vehicles, achieving a fleet of 16,908 new energy vehicles by the end of 2024 [16] - The balance of green loans from Postal Savings Bank reached 781.732 billion yuan by the end of 2024, reflecting a year-on-year growth of 22.55% [16] Societal Impact - The new productive forces cultivated by China Post not only enhance its service capabilities but also contribute to high-quality development and the release of green new momentum [18] - The company's extensive network and public service role position it as a key player in applying and popularizing technological innovations that improve overall societal efficiency, known as the "Postal Effect" [18]

中新社法国兰斯5月7日电 (记者李洋)法国当地时间7日发行纪念二战胜利80周年邮票。 当地时间5月7日，法国发行纪念二战胜利80周年邮票。图为兰斯中央邮局工作人员为邮票加盖首日戳。 中新社记者李洋摄 法国邮政选择东北部城市兰斯作为这套纪念邮票的首发地。1945年5月7日，德国纳粹军队向盟军无条件 全面投降，签字仪式在位于兰斯的艾森豪威尔作战指挥部举行。该指挥部现已成为纳粹投降博物馆。 为配合邮票的发行，兰斯中央邮局当天还举办了纪念二战胜利80周年邮展，主要展示法国邮政80年来为 纪念二战胜利发行的相关邮票，其中包括邮票票样、首日封及明信片等，同时还展示反映德国纳粹军队 在兰斯投降的大量历史照片及刊物等。 据了解，此次邮票发行活动是兰斯市政府组织的"纳粹投降80周年"纪念活动的一部分。在5月8日法国的 二战胜利纪念日当天，这套邮票将在纳粹投降博物馆继续发售。(完) 当地时间5月7日，法国发行纪念二战胜利80周年邮票。图为兰斯中央邮局展示的邮票图稿和首日封。中 新社记者李洋摄 当天的发行活动在兰斯中央邮局举行。记者在现场看到，前来购买相关邮品的民众络绎不绝。不少人特 地请邮政工作人员在邮票上加盖首日邮戳，邮戳上专 ...

Core Viewpoint - The company, Hunan Xiangyou Technology Co., Ltd., plans not to distribute profits for the year 2024 due to negative retained earnings, which requires shareholder approval at the upcoming annual meeting [12][14][15]. Group 1: Company Financial Performance - In 2024, the company achieved a net profit of 13,192,229.08 yuan, but with an opening retained earnings of -181,677,298.32 yuan, resulting in a total distributable profit of -168,485,069.24 yuan [14][15]. - The company reported a revenue of 63,911.98 yuan for 2024, representing a year-on-year increase of 9.16%, and a net profit of 1,319.22 million yuan, with a significant increase in cash flow from operating activities by 1,669.89 million yuan [3][12]. Group 2: Industry Overview - The software and information technology service industry in China saw stable growth in 2024, with software business revenue reaching 137,276 billion yuan, a year-on-year increase of 10%, and total profit of 16,953 billion yuan, up 8.7% [4]. - The postal industry in China achieved a revenue of 7,025.84 billion yuan in 2024, marking a 1.53% increase, with profits reaching 865.23 billion yuan [5]. Group 3: Business Development and Strategy - The company is focusing on optimizing its business structure and accelerating the development of efficient and sustainable businesses, with software development, platform operation services, and self-developed product sales accounting for over 50% of total revenue [8]. - The company is actively pursuing digital transformation projects in the postal sector, leveraging advanced technologies such as AI, big data, and IoT to enhance operational efficiency and service quality [5][6]. Group 4: Corporate Governance and Compliance - The company’s board of directors and supervisory board have ensured the accuracy and completeness of the annual report, which will be submitted for shareholder approval [12][60]. - The company has engaged Zhongshen Zhonghuan Accounting Firm for auditing, which has been approved by the board and will also be submitted for shareholder approval [32][46].

一是结构上产需同步向好。 一季度，外需增速高于生产和内需。"抢出口"效应下以人民币计价的出口同比增 速达6.9%。内需提振政策效果延续，社零和投资分别增长4.6%、4.2%。其中，基建（11.5%）和制造业投资 （9.1%）保持高增，房地产投资（-9.9%）拖累减弱。生产端工业增加值增长6.5%，增速为2022年以来的次高 值。值得注意的是，供给强于需求的格局仍在继续，一季度产能利用率（74.1%）和产销率（94.6%）均略超 季节性回落。 图1：3月内外需求增速均有提升 资料来源：Wind，招商银行研究院 图2：消费提振，投资分化 资料来源：Wind，招商银行研究院 二是节奏上前稳后高。 3月多数经济数据增速较1-2月改善。生产加快修复，3月规模以上工业增加值同比增速 上行1.8pct至7.7%。需求端以基建投资好转最为显著，3月增速大幅提升2.6pct至12.6%。社零增速表现亮眼，3 月增速提升1.9cpt至5.9%，达到2020年以来的最高值【注释1】。制造业投资增速微升，房地产投资增速微 降。 图3：房地产销售降幅略有收窄，投资降幅再度扩张 一、总览：供需两旺 一季度我国经济开局良好，实际GDP同比 ...