今年，中国石化重点展示了"能源至净、生活至美、开放至诚"三方面成果。中国石油化工集团有限公司 副总经理万涛表示，近年来，中国石化聚焦"双碳"目标，积极发展天然气、氢能、地热、生物航煤等产 业，致力打造更加安全、更具韧性、更可持续的清洁能源产业链供应链，更好服务美丽中国和清洁美丽 世界建设。"我们强化融通带动、链接内外的作用，与上下游企业共同推动清洁能源产业商业化发展。 全力担当氢能产业链链长，与国内近50家企业签订氢能合作协议，与32家国企、民企组成了创新联合 体，共同推动氢能产业发展。" 科技创新驱动产业链升级 作为全球首个以供应链为主题的国家级展会，中国国际供应链促进博览会（链博会）吸引了众多行业领 军企业参展，涵盖物流、高端制造、农业科技、基建、消费品等多个领域，共同探讨供应链的未来发展 方向，彰显了链博会"链接世界、共创未来"的核心价值。 中国贸促会产业促进部部长杨晓军表示，今年是链博会连续举办的第三年，参展企业中既有大量"回头 客"，也有一批"头回客"，还有多国专业观众变成参展商。参展商对本届链博会的综合满意度达到 95％。广大参展商普遍表示，本届链博会展示精彩、"硬核"，令人震撼，收获了"盛夏的果 ...

央视网消息：7月21日，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布会，交通运输部部长刘伟表示，五年来，我 国交通运输事业取得了历史性成就，综合交通运输体系建设实现突破性进展。 交通运输部部长刘伟表示，"十四五"规划确定的17项主要指标中，高速公路建成里程、城市轨道交通运营里程、沿海港口重要港区铁路进 港率、建制村快递服务通达率、重点领域北斗系统应用率、城市新能源公交车辆占比等6项指标在2024年已提前完成，高速铁路营业里程、枢 纽机场轨道交通接入率等11项指标年底前将全部完成。总的看，这五年，我国交通运输事业取得了历史性成就，综合交通运输体系建设实现突 破性进展，"6轴7廊8通道"国家综合立体交通网主骨架建成率超过90%，交通运输综合能力、服务品质、运行效率显著提升，"人享其行、物畅 其流"的美好愿景正在加快实现。 交通运输部：现代化高质量国家综合立体交通网加快构建 发布会上，交通运输部相关负责人还表示，党的十八大以来，我国累计完成农村公路固定资产投资超过4.9万亿元、投入养护资金超过1.2 万亿元，截至2024年底，农村公路总里程达464万公里，占全国公路总里程的近85%，外通内联、通 ...

017月18日，澳大利亚进口巴旦木在义乌保税物流中心通关后2小时内直达汇商冷库，标志"保税+冷链"创新模式正式运营，解决企业仓 储空间不足、分拨效率低等问题。 02今年以来，义乌保税物流中心与汇商冷链公司多次调研接洽，7月签订协议明确协作机制，货物通关后可直运冷库，仓储利用率提升 30%，长三角订单交付周期缩短40%，单箱物流成本预计降1600元。 7月18日，一批由澳大利亚进口的巴旦木在义乌保税物流中心完成通关后，2小时内直达义乌国际冷鲜城一区汇商冷库，标志着由义乌 市陆港集团、市场集团协同推进的"保税+冷链"创新模式正式投入运营。 03双方整合保税政策与冷鲜城资源，打造综合服务平台，已对接企业超20家，支撑"保税+专业市场"协同发展，实现进口冷链业务服务 升级。 04首批5000托高标准保税冷链专用库已投入使用，重点服务进口坚果干果、冷冻水产品等特色商品。 05预计到2025年末，相关品类进口规模将突破5亿元，推动进口冷链业务服务升级。 以上内容由传播大模型和DeepSeek生成，仅供参考 据悉，通过整合保税政策优势与义乌国际冷鲜城30万立方米高标冷库、智能分拨系统及供应链金融服务，双方合力打造集通关、仓 ...

Core Viewpoint - The HSBC Jintrust Consumer Dividend Stock Fund (540009) reported a profit of 2.0889 million yuan for Q2 2025, with a weighted average profit per fund share of 0.0084 yuan, and a net value growth rate of 0.97% during the period [3]. Fund Performance - As of the end of Q2 2025, the fund's scale was 196 million yuan [15]. - The fund's unit net value was 0.798 yuan as of July 18 [3]. - Over the past three months, the fund's adjusted unit net value growth rate was 0.15%, ranking 23 out of 41 comparable funds [3]. - Over the past six months, the adjusted unit net value growth rate was 3.38%, ranking 26 out of 41 comparable funds [3]. - Over the past year, the adjusted unit net value growth rate was 18.72%, ranking 9 out of 41 comparable funds [3]. - Over the past three years, the adjusted unit net value growth rate was -10.47%, ranking 11 out of 37 comparable funds [3]. Risk Metrics - The fund's Sharpe ratio over the past three years was -0.0217, ranking 13 out of 37 comparable funds [8]. - The maximum drawdown over the past three years was 30.23%, ranking 31 out of 37 comparable funds [10]. - The largest single-quarter drawdown occurred in Q1 2022, at 23.74% [10]. Investment Strategy - The fund maintained an average stock position of 88.87% over the past three years, compared to the industry average of 87.68% [13]. - The fund's highest stock position was 93.2% at the end of Q3 2019, while the lowest was 81.25% at the end of Q1 2025 [13]. - The fund's management indicated a focus on resilient stocks and adjustments in positions based on mid-term growth potential and certainty, with increased allocations in the agricultural sector during Q2 [3]. Holdings Concentration - As of the end of Q2 2025, the fund had a high concentration in its top ten holdings, which included Hai Da Group, Gree Electric Appliances, SF Holding, Muyuan Foods, Wens Foodstuff Group, HLA Corp, Spring Airlines, Yonghui Superstores, Ximai Food, and Sun Paper [18].

Core Viewpoint - The introduction of the six-way shuttle vehicle by Jiangsu Zhiku Intelligent Technology Co., Ltd. aims to replace traditional automation equipment with robots, providing more efficient and flexible solutions to meet the market's demand for high flexibility and convenient delivery [2][3]. Industry Transformation - The intelligent logistics and warehousing sector is undergoing significant changes driven by the rapid development of artificial intelligence and the continuous advancement of China's supply chain industry [2]. - The pallet storage robot sector shows immense development potential and a broad market space, which is crucial for improving efficiency and reducing costs in the logistics and warehousing industry [2]. Product Innovation - The six-way shuttle vehicle is an innovative solution that addresses the limitations of traditional stackers and four-way shuttle vehicles, enhancing product and solution iterations [4]. - This system consists of R-bot four-way shuttles and H-bot vertical two-way vehicles, allowing for flexible combinations based on customer scenarios, efficiency, and layout requirements [6]. - The six-way shuttle vehicle replaces traditional automation equipment with standardized products, significantly improving the efficiency of warehousing centers [8]. Research and Development - The development of the six-way shuttle vehicle involved a comprehensive comparison across six key dimensions: cost, density, flexibility, efficiency, delivery, and operation and maintenance, showing significant advantages over traditional solutions [10]. - The product is designed to be easily installed and utilized, marking a shift from integrated products to product integration in the pallet storage scene [11]. Customer-Centric Innovation - The company emphasizes a customer-centric innovation approach, aiming to meet the fundamental needs of clients [12]. - Over eight years, the company has positioned itself as a leader in pallet storage robots, developing a comprehensive product system tailored for different storage heights [12]. Market Trends - The trend in the pallet storage sector is moving towards productization and automation, with standardized products facilitating better quality and cost control, as well as global delivery and deployment [14]. - The six-way shuttle vehicle has received positive feedback not only from domestic clients but also from international markets, particularly in developed regions like Europe, the U.S., Japan, and South Korea, as well as the growing Southeast Asian market [16]. Future Outlook - The industry is expected to transition from "machines replacing humans" to "robots replacing machines," which is the core philosophy behind the development of the six-way shuttle vehicle [16].

经济增长前景承压，多头警觉 即使是最坚定的多头也在为波动做准备。华尔街知名"大空头"、摩根士丹利首席美股策略师Mike Wilson表示，尽管他对股市12个月前景保持乐观，但近期企业指引可能低于预期，导致5%-10%的市场 调整。 Wilson预计，关税传导可能会在第三季度引发风险，造成5-10%的回调。 Murphy & Sylvest Wealth Management的市场策略师Paul Nolte则更悲观，他认为市场面临真正熊市风 险，即20%或更大幅度的下跌： 关税阴霾笼罩美股，高估值市场面临盈利增长威胁。 近日来，美股在关税重压下仍维持历史高位，但分析师警告，投资者低估了贸易壁垒对企业盈利的冲击 风险。 目前，标普500指数正以约22倍的预期市盈率交易，接近疫情后最高估值水平。分析师认为，而特朗普 关税政策的不确定性正如一根潜在的针，威胁着这一"完美定价"的气球，多头也在为潜在动荡做准备， 任何经济数据或企业指引的负面偏差都可能引发回调。 彭博数据显示，美国进口商平均缴纳的关税已跳升至13%以上，较去年高出五倍多。汇丰全球股票策略 主管Alastair Pinder表示，这已足以削减企业盈利增长5 ...

金十图示：2025年07月21日（周一）富时中国A50指数成分股午盘收盘行情一览：盘面整体涨跌互现，银行、保险板块普跌，能 源、汽车板块多数走高 富时中国A50指数连续 -0.01(-0.18%) -0.11(-0.93%) +0.01(+0.12%) 光大银行 2522.95亿市值 3.91亿成交额 4.27 -0.03(-0.70%) 保险 中国太保 中国平安 中国人保 明 3692.70亿市值 3493.15亿市值 10372.55亿市值 10.66亿成交额 17.82亿成交额 3.45亿成交额 36.31 8.35 56.96 -0.78(-2.10%) -0.11(-0.19%) -0.04(-0.48%) 酿酒行业 贵州茅台 山西汾酒 五粮液 18114.50亿市值 2180.56亿市值 4750.70亿市值 22.87亿成交额 15.77亿成交额 9.13亿成交额 1442.01 178.74 122.39 +5.01(+0.35%) -2.36(-1.30%) -1.39(-1.12%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2310.57亿市值 2446.80亿市值 3170. ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The express delivery sector shows significant divergence in June data, with a focus on the industry's anti-involution process [3] - The express logistics market is expanding, supported by the national strategy to boost domestic demand, with a year-on-year growth of 15.8% in express delivery volume in June 2025 [5] - The performance of major express companies varies, with SF Express maintaining a business volume growth rate of over 30%, while other companies like YTO Express and Yunda Express show slower growth [4][5] Summary by Sections Express Logistics - In June 2025, the total express delivery volume reached 16.87 billion pieces, a year-on-year increase of 15.8%, with total revenue of 126.32 billion yuan, up 9.0% [5][24] - Major express companies' performance in June: YTO Express (2.627 billion pieces, +19.34%), Yunda Express (2.173 billion pieces, +7.41%), SF Express (1.460 billion pieces, +31.77%) [4][28] - The market share for these companies is 15.6% for YTO, 12.9% for both Yunda and Shentong, and 8.7% for SF Express [4] Air Transportation - The air travel sector is expected to benefit from macroeconomic recovery, with a year-on-year increase of 4.4% in passenger transport volume in June 2025 [52] - Major airlines are projected to improve their performance in Q2 2025 due to better supply-demand dynamics and lower oil prices [8] Shipping and Ports - The shipping sector is anticipated to benefit from OPEC+ production increases and a favorable economic environment, with a focus on crude oil transportation [16] - The Baltic Dry Index (BDI) increased by 27.8% week-on-week, indicating a recovery in the bulk shipping market [11][68] - Container throughput at Chinese ports showed a slight increase in cargo volume but a decrease in container throughput [81] Road and Rail - In June 2025, road freight volume increased by 2.86% year-on-year, while rail freight volume rose by 7.36% [45] - National logistics operations are running smoothly, with a slight increase in freight truck traffic [14] Supply Chain Logistics - Companies like Shenzhen International and Debon Logistics are expected to benefit from strategic transformations and improved profitability [15]

Core Insights - The article discusses the transformation in the food consumption market, particularly the "shelf life revolution," driven by advancements in cold chain logistics [1][3] - The cold chain logistics sector in China is entering a new development phase, as highlighted by the government's focus on enhancing agricultural cold chain infrastructure [3][4] Industry Developments - The core value of cold chain supply chain data lies in its role as a strategic asset for industrial digitization, emphasizing the importance of data standardization and transparency [3][4] - The company, Qianhai Yueshi, is positioning itself as a leading comprehensive platform for agricultural cold chain supply chains, differentiating itself from traditional logistics companies [6][7] Technological Innovations - Qianhai Yueshi employs a triad of technologies: IoT, blockchain, and AI, to ensure seamless data flow across the logistics chain, facilitating access to financial resources for small agricultural enterprises [4][6] - The introduction of specialized robots, such as the "Penguin MAX," addresses labor shortages and operational cost increases in the cold chain industry, enhancing efficiency and safety [7][8] Market Positioning - Qianhai Yueshi has developed a digital operation system that integrates information, transactions, logistics, finance, and robotics, serving over 4,000 cold chain parks globally and connecting with more than 370,000 B-end customers [6][7] - The company has achieved significant financial milestones, with projected revenues exceeding 34.1 billion yuan in the first half of 2025 [6] Strategic Collaborations - During the recent Supply Chain Promotion Expo, Qianhai Yueshi announced strategic partnerships aimed at enhancing cold chain logistics capabilities, including a collaboration with Dongjiu Xinyi for a major logistics project [8]

7月17日，鄂州花湖国际机场迎来投运三周年。三年来，这座"不夜空港"累计保障货运航班超6万架 次，完成货邮吞吐量超200万吨，开通国际及地区货运航线45条，位居中部第一，构建起"一夜达全国、 隔日连世界"的航空物流网络，成为内陆开放新高地。 航线织网：通达全球的空中动脉 航空物流的发展让"天涯若比邻"成为现实。在沪打拼的杨女士通过花湖机场"乡愁空运"服务，24小 时内收到了家乡鄂州的新鲜莲蓬、手工油粑等特产。 这种"从田间到餐桌"的航空物流方案已成为常态——荔枝产销旺季，机场每日保障约200万颗荔枝 运往全国；夏季水果上市期间，机场陆续开通樱桃、杨梅等特色农产品专线。 作为亚洲首个专业货运机场，花湖机场三年间实现航线网络的跨越式发展。面向全球，机场已吸引 阿特拉斯、阿提哈德、马士基等16家外籍航司入驻，今年以来新开至法国巴黎、挪威奥斯陆和丹麦哥本 哈根等15条国际货运航线，加密比利时列日、美国芝加哥等重点航线。截至7月17日，累计开通国际及 地区货运航线45条，航线数量稳居中部第一。 中转效率持续提升，机场已拓展国际"空空中转"产品线路56条，国际"空空中转"货量达1200吨/ 周，较2024年增幅达361% ...