Core Viewpoint - The logistics industry in China shows signs of steady growth despite a slight decline in the logistics prosperity index, indicating strong internal demand and adaptability in supply and demand dynamics [1][2]. Group 1: Logistics Prosperity Index - In July, the logistics prosperity index was reported at 50.5%, a decrease of 0.3 percentage points month-on-month, but still reflects expanding total demand and strong internal momentum [1]. - Various sub-indices, including business volume index, new orders index, and logistics service price index, remained above 50%, indicating expansion in the logistics sector [1]. Group 2: Business Activity and Investment - The business volume index continues to expand, although at a slower pace, with significant growth in sectors such as railway, road, air transport, warehousing, and postal express services [1][2]. - The fixed asset investment completion index for the logistics industry was reported at 54.9%, marking a month-on-month increase of 0.4 percentage points, indicating a positive trend in logistics infrastructure investment [2]. Group 3: E-commerce and Consumer Demand - E-commerce and express delivery services are experiencing notable growth, with the business volume index for the e-commerce express sector reaching 69.3%, indicating a high level of activity [2]. - The "old-for-new" national subsidy policy and regional subsidies are driving consumer demand, further expanding logistics needs in the consumer sector [2].

Core Viewpoint - The logistics industry in China shows signs of steady demand and expansion despite adverse weather conditions, with the logistics prosperity index at 50.5% for July 2025, reflecting a slight decrease of 0.3 percentage points from the previous month [1] Logistics Demand and Performance - The overall logistics demand remains strong, with the business volume index at 50.5%, indicating expansion but a slowdown in growth [3] - The business volume index varies by region, with the central and western regions outperforming the national average at 50.9% and 52.3%, respectively, while the eastern region stands at 50.3% [3] - Key sectors such as rail, road, air transport, warehousing, and express delivery maintain business volume indices above 50%, supporting stable industry operations [3] Sector-Specific Insights - E-commerce and express delivery sectors are particularly vibrant, with the e-commerce express delivery business volume index at 69.3%, indicating high prosperity [4] - Air transport shows a recovery with a business volume index of 52.8%, up 0.8 percentage points, driven by seasonal demand for fresh produce [4] - Road and rail transport indices are at 54.6% and 51.7%, respectively, both showing slight increases [4] New Orders and Financial Stability - The new orders index has risen to 52.5%, reflecting an increase in new demand [5] - Regional performance shows eastern and western regions at 51.2% and 52.8% for new orders, while the central region decreased by 0.3 percentage points [5] - The logistics service price index has increased by 0.2 percentage points, indicating stable pricing amidst expanding business volumes [5] Investment and Market Outlook - Fixed asset investment in logistics is on the rise, with an index of 54.9%, marking a 0.4 percentage point increase [6] - The business activity expectation index is at 55.6%, suggesting positive outlooks for sectors like air transport and express delivery [6] - The logistics demand remains stable, supported by government policies and consumer trends, although there are concerns about demand slowdown and industry competition [7]

Group 1 - Poly United disclosed a lawsuit against Guizhou Huangguoshu Transportation Co., Ltd. and its three shareholders, with a claim amount of 192 million yuan related to a construction contract dispute [1][2] - The lawsuit stems from the completion of a project, the Guizhou Western Huangguoshu Tourist Distribution Center, for which the payment was not made in a timely manner [1][4] - The involved parties include Poly United's subsidiary, which won the bid for the construction project, and the parent company of Huangguoshu Transportation is listed as a potential company for public listing in 2025 [1][3] Group 2 - The lawsuit has been accepted by the court, but no hearing date has been set yet [2] - Huangguoshu Transportation holds a significant stake in the tourism sector, including management of tourist attractions and related facilities [3][6] - Poly United's stock experienced a series of gains before the lawsuit announcement, but subsequently faced a drop in share price [4][6]

Group 1 - Tianjin Port Universal Roll-on/Roll-off Terminal Co., Ltd. and Tianjin Jisen Electromechanical Equipment Engineering Co., Ltd. have obtained a patent for a "traction device for unloading unmanned vehicles" [1] - The patent aims to address the inefficiencies in current technologies that require manual operation for connecting and disconnecting the traction device, which consumes a significant amount of time [1] - The traction device includes various components such as a traction frame, transmission mechanism, control mechanism, position detection sensor, and multiple fixed and protective plates [1] Group 2 - Tianjin Port Universal Roll-on/Roll-off Terminal Co., Ltd. was established in 2007, primarily engaged in road transportation, with a registered capital of 264.46 million [2] - The company has participated in 148 bidding projects and holds 15 patents along with 35 administrative licenses [2] - Tianjin Jisen Electromechanical Equipment Engineering Co., Ltd. was founded in 2012, focusing on construction installation, with a registered capital of 8 million [2] - This company has been involved in 43 bidding projects, holds 46 patents, and has 14 administrative licenses [2]

Core Viewpoint - The company is issuing a public offering of technology innovation corporate bonds aimed at professional investors, with a total face value not exceeding 5 billion RMB, as part of a larger registration of up to 10 billion RMB approved by the China Securities Regulatory Commission [4][5]. Financial Situation - As of March 31, 2025, the company's net assets amounted to approximately 90.22 billion RMB, with a consolidated debt-to-asset ratio of 43.45% and a parent company debt-to-asset ratio of 29.38% [4]. - The average distributable profit over the last three accounting years was approximately 564.99 million RMB, with net profits for 2022, 2023, and 2024 being 486.07 million RMB, 676.66 million RMB, and 532.22 million RMB respectively [5]. - For the first quarter of 2025, the company reported revenue of approximately 280.27 million RMB, a year-on-year decrease of 7.24%, while net profit was approximately 150.04 million RMB, a year-on-year increase of 4.16% [5]. Bond Issuance Details - The bond issuance is exclusively for institutional investors, with individual investors not permitted to participate [6][7]. - The bonds will be listed and traded on the Shenzhen Stock Exchange, and the company will apply for listing as soon as the issuance is completed [7]. - The bonds will be issued at a fixed interest rate of 1.92% with a term of three years [18]. Rating and Compliance - The issuer has received a credit rating of AAA with a stable outlook from China Chengxin International Credit Rating Co., Ltd. [8]. - The bonds will be subject to annual tracking ratings during their term [8]. Market Context - The company operates in a competitive transportation sector, facing challenges from other modes of transport such as rail and air, which may impact highway traffic volumes [9]. - The company's intangible assets, primarily highway concession rights, were valued at approximately 85.35 billion RMB as of the end of 2024 [9]. Corporate Governance - Recent changes in the board of directors include resignations and new appointments, ensuring compliance with the new Company Law and enhancing governance structures [16][18].

经营范围含软件开发；总质量4.5吨及以下普通货运车辆道路货物运输（除网络货运和危险货物）；普 通货物仓储服务（不含危险化学品等需许可审批的项目）；广告制作；广告发布；广告设计、代理。 （除依法须经批准的项目外，凭营业执照依法自主开展经营活动） 企业名称重庆中枢智联科技有限公司法定代表人郑皓天注册资本1000万人民币国标行业交通运输、仓储 和邮政业>道路运输业>公路旅客运输地址重庆市高新区曾家镇振华路41号附23号（自编号2楼037号） 企业类型有限责任公司(自然人投资或控股的法人独资)营业期限2025-7-30至无固定期限登记机关重庆高 新技术产业开发区管理委员会市场监督管理局 来源：金融界 天眼查App显示，近日，重庆中枢智联科技有限公司成立，法定代表人为郑皓天，注册资本1000万人民 币，由四川赫华物流有限公司全资持股。 序号股东名称持股比例1四川赫华物流有限公司100% ...

Group 1 - The stock price of Tianjin TEDA Co., Ltd. (000652) closed at 4.38 yuan on July 31, 2025, down 2.88% with a turnover rate of 1.69% and a trading volume of 249,000 hands, amounting to 110 million yuan [1] - The latest financial report for the first quarter of 2025 shows total revenue of 4.132 billion yuan, a year-on-year decrease of 7.17%, and a net profit attributable to shareholders of 7.6172 million yuan, a year-on-year increase of 0.57% [1] - The company has a current ratio of 1.192, a quick ratio of 0.704, and a debt-to-asset ratio of 86.10% [1] Group 2 - Tianjin TEDA Co., Ltd. has made investments in 27 companies and participated in 244 bidding projects [2] - The company holds one trademark and 69 patents, along with four administrative licenses [2]

金融界消息 截至2025年7月30日收盘，大众交通（600611）报收于6.33元，下跌2.31%，换手率3.44%， 成交量53.85万手，成交金额3.43亿元。 资金流向方面，今日主力资金净流出6468.50万元，占比成交额18.88%。其中，超大单净流出2394.41万 元、占成交额6.99%，大单净流出4074.09万元、占成交额11.89%，中单净流出流出303.95万元、占成交 额0.89%，小单净流入6772.45万元、占成交额19.76%。 天眼查商业履历信息显示，大众交通(集团)股份有限公司，成立于1994年，位于上海市，是一家以从事 道路运输业为主的企业。企业注册资本236412.2864万人民币，实缴资本236412.2864万人民币。公司法 定代表人为杨国平。 通过天眼查大数据分析，大众交通(集团)股份有限公司共对外投资了98家企业，参与招投标项目18次， 知识产权方面有商标信息29条，此外企业还拥有行政许可440个。 来源：金融界 大众交通最新一期业绩显示，截至2025一季报，公司营业总收入5.42亿元、同比减少26.14%，归属净利 润3609.03万元，同比减少296.76%，扣 ...

天眼查商业履历信息显示，海南海汽运输集团股份有限公司，成立于1985年，位于海口市，是一家以从 事道路运输业为主的企业。企业注册资本31600万人民币，实缴资本23700万人民币。公司法定代表人为 冯宪阳。 通过天眼查大数据分析，海南海汽运输集团股份有限公司共对外投资了54家企业，参与招投标项目895 次，知识产权方面有商标信息43条，专利信息5条，此外企业还拥有行政许可460个。 来源：金融界 金融界消息 截至2025年7月30日收盘，海汽集团（603069）报收于21.97元，下跌0.72%，换手率 3.88%，成交量12.25万手，成交金额2.69亿元。 资金流向方面，今日主力资金净流出1343.70万元，占比成交额4.99%。其中，超大单净流出1757.92万 元、占成交额6.53%，大单净流入414.22万元、占成交额1.54%，中单净流出流入36.64万元、占成交额 0.14%，小单净流入1307.05万元、占成交额4.86%。 海汽集团最新一期业绩显示，截至2025一季报，公司营业总收入1.85亿元、同比减少24.40%，归属净利 润1951.76万元，同比减少115.25%，扣非净利润2088 ...

资金流向方面，今日主力资金净流入5334.43万元，占比成交额12.16%。其中，超大单净流入1462.22万 元、占成交额3.33%，大单净流入3872.21万元、占成交额8.83%，中单净流出流入2647.95万元、占成交 额6.04%，小单净流出7982.38万元、占成交额18.2%。 来源：金融界 天眼查商业履历信息显示，上海交运集团股份有限公司，成立于1993年，位于上海市，是一家以从事道 路运输业为主的企业。企业注册资本102849.2944万人民币，实缴资本37376.7497万人民币。公司法定代 表人为陈晓龙。 金融界消息 截至2025年7月30日收盘，交运股份（600676）报收于5.29元，下跌4.34%，换手率8.13%， 成交量83.61万手，成交金额4.39亿元。 通过天眼查大数据分析，上海交运集团股份有限公司共对外投资了27家企业，参与招投标项目42次，知 识产权方面有商标信息10条，专利信息31条，此外企业还拥有行政许可14个。 交运股份最新一期业绩显示，截至2025一季报，公司营业总收入10.70亿元、同比增长12.22%，归属净 利润5442.21万元，同比增长22.92%， ...