Group 1 - The construction of key projects in Haizhou District, Lianyungang City is progressing rapidly, with 117 municipal key projects completing an investment of 8.53 billion yuan, achieving 45.2% of the annual plan, exceeding the schedule by 3.5 percentage points [1] - Three new roads in Haizhou District are nearing completion, with a total progress of 95%, and are expected to be open for traffic by the end of the month, alleviating long-standing traffic issues for local residents [1] - The Starry Lake No. 1 Plaza, a provincial key cultural tourism project, has completed the main construction of a 12,000 square meter commercial center, with 10 main buildings successfully topped off [2] Group 2 - Haizhou District is actively increasing project investment and commencement, with 67 new municipal key industrial projects starting construction from January to May, including high-performance powder materials and the first phase of the Lianyungang "Belt and Road" logistics intelligence valley [2] - The district is focused on achieving its targets with a sense of urgency, implementing a project lifecycle management approach, and providing comprehensive support services to ensure smooth project construction [2]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 順豐控股股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期: 2025年7月2日 I. 法定/註冊股本變動 證券代號 (如上市) 06936 說明 H股 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 170,000,000 RMB 1 RMB 170,000,000 增加 / 減少 (-) 0 RMB 0 本月底結存 170,000,000 RMB 1 RMB 170,000,000 證券代號 (如上市) 002352 說明 A股 (於深圳證券交易所上市) 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 4,822,692,017 RMB 1 RMB 4,822,692,017 增加 / 減少 (-) RMB 本月底結存 4,822,692,017 RMB 1 RMB 4,822,692,017 本月底法定/註冊股本總額： RMB 4,992,692,017 第 1 頁 共 10 頁 v 1.1.1 ...

Summary of Key Points Group 1: Overview of Guarantees - Company provided guarantees to its subsidiaries, Zhijiang Supply Chain Logistics Co., Ltd. and Shaoyang Smart Supply Chain Logistics Co., Ltd., for loans totaling 1.432 billion yuan and 2.55 billion yuan respectively, both with a term of 15 years [1][2] - The guarantees are intended to support the construction of logistics projects, specifically the "Zhijiang Trade Logistics Park" and "Shaoyang Smart Trade Circulation Industrial Park" [1][2] Group 2: Financial Details of Subsidiaries - Zhijiang Supply Chain Logistics has total assets of 182.46 million yuan and total liabilities of 148.26 million yuan, with a net profit of 8.92 million yuan for the most recent audited period [5] - Shaoyang Smart Supply Chain Logistics has total assets of 330.05 million yuan and total liabilities of 286.77 million yuan, with a net profit of 40.47 million yuan for the most recent audited period [6] Group 3: Board and Shareholder Approvals - The company's board and shareholders approved a mutual guarantee limit of 4.3 billion yuan among the company and its subsidiaries, which includes existing and new guarantees [3] - The approval allows the company to manage guarantees without needing to convene additional board or shareholder meetings for each transaction [3] Group 4: Risk Management and Control - The company maintains effective control over its subsidiaries' operations and has a thorough understanding of their debt repayment capabilities, ensuring that the risks associated with the guarantees are manageable [7][8]

Board Meeting Summary - The 11th meeting of the 4th Board of Directors of Shanghai Changlian International Logistics Co., Ltd. was held on July 2, 2025, via telecommunication voting, with all 11 directors present [1][2] - The meeting was legally convened and the resolutions made were valid [1] Resolutions Passed - Liu Zhengqi was elected as the Vice Chairman of the 4th Board of Directors, with a term aligned with the board's term [1] - Liu Zhengqi was elected as a member of the Strategic Committee of the 4th Board of Directors [1] - Liu Zhengqi was elected as a member of the Audit Committee of the 4th Board of Directors [2] - Liu Zhengqi was elected as a member of the Compensation and Assessment Committee of the 4th Board of Directors [2] - Xu Feng was reappointed as General Manager until February 15, 2028 [2] - Chen Wenye was reappointed as Deputy General Manager until May 31, 2027 [2] - Shen Kan was reappointed as Deputy General Manager and Board Secretary until September 9, 2028 [2] - Zhong Yong was reappointed as Financial Director until September 9, 2028 [2] - Qu Pinan was reappointed as Quality Director until September 9, 2028 [2] - Lin Yihong was reappointed as Assistant General Manager until September 9, 2028 [2] - Li Jiaqing was promoted to Assistant General Manager with a term starting September 2025 [2] Personnel Background - Xu Feng has held various positions within the company and is currently the General Manager [3][4] - Chen Wenye has extensive experience in human resources and is currently the Deputy General Manager [3][4] - Shen Kan has a background in risk management and is currently the Board Secretary and Administrative Director [3][4] - Zhong Yong has served as Financial Director in various companies and is currently the Financial Director [4] - Qu Pinan has a strong background in logistics management and is currently the Quality Director [4] - Li Jiaqing has progressed through various roles in the company and is currently the General Manager of the Freight Forwarding Department [5][6]

Group 1 - The company announced a share repurchase plan with a total expected amount between 75 million and 150 million RMB [1][2] - The repurchase period is set from May 16, 2025, to May 15, 2026 [1] - The repurchased shares will be fully canceled, leading to a reduction in registered capital [1] Group 2 - As of June 30, 2025, the company has not yet initiated the share repurchase [2] - The company will adhere to relevant regulations and disclose progress on the repurchase in a timely manner [2]

Summary of Low Altitude Economy Conference Call Industry Overview - The low altitude economy market is active, particularly in the Jiangsu, Zhejiang, Shanghai, and Anhui regions, with a total bidding amount for infrastructure reaching 4.767 billion yuan by June 2025 [1][4] - The development of airworthy aircraft and regular application scenarios is crucial for the growth of the low altitude economy [1][4] Key Insights - **Market Discrepancy**: There is a disconnect between the primary and secondary markets, with many related companies' stock prices currently low. However, future policy implementations and expanded application scenarios are expected to boost these prices significantly [3] - **Drone Efficiency**: Drones are more efficient than human delivery, with costs ranging from 3.8 to 4.9 yuan per kilometer per hour, which is lower than the cost of delivery personnel [1][6] - **Regulatory Landscape**: In China, drones under 25 kg can fly in populated areas without airworthiness certification, while those between 25-150 kg require such certification [5] Company Recommendations - Companies to watch in the low altitude logistics sector include: - Jifeng Technology - Green Energy Hui Charge - Zhongheng Co. - Aerospace Electronics - SF Express - These companies have established technological capabilities and market positions in low altitude logistics [1][7] Development Prospects - **End Delivery**: Drones show significant advantages in end delivery, with one operator able to control multiple drones, reducing costs further [6][16] - **Branch Logistics**: Drones are particularly advantageous in branch logistics, especially in complex terrains, where traditional methods are less efficient [2][19] Infrastructure and Investment - The construction of low altitude economic service platforms is primarily contracted to major telecom operators like China Telecom, Unicom, and Mobile, due to the need for communication through their base stations [11] - Local governments are investing in drone applications for public services, such as traffic monitoring and emergency response [12][10] Challenges and Considerations - **Safety Regulations**: Local governments lack the capacity to independently establish drone management rules, necessitating a unified national framework to ensure safety and clarity in responsibility [15] - **Economic Viability**: While drones are not yet economically viable for trunk logistics, they hold promise for branch and end delivery logistics due to their cost and time efficiency [21] Conclusion - The low altitude economy, particularly in logistics, is poised for growth with significant investment and technological advancements. Companies with established capabilities in drone technology are well-positioned to capitalize on this emerging market.

1995年，东莞常平以"京九第一镇"的豪迈，登顶东莞镇街经济榜首。广九铁路、京九铁路的汽笛声，是 它响彻时代的荣耀。三十载风云变幻，当松山湖、长安迈入GDP千亿俱乐部，常平却退居全市第七，在 激烈的区域竞争中，常平如何重归"C位"？ 1989年10月，广梅汕铁路建设工程立项，第二条铁路通过常平。1994年，常平铁路客运口岸开通，东莞 人第一次可以从家门口坐火车到香港，而香港人也可以直接坐火车进入东莞。由此吸引了大量的香港人 到常平买房、投资、兴业。 一时之间，常平镇成为东莞的经济龙头，与虎门一齐被誉为"东常平西虎门"，经济一路高歌猛进。1995 年的东莞镇街经济版图上，常平力压虎门、长安登顶榜首。次年，大京九铁路开通，这是第三条路过常 平的铁路。随即大京九人才市场、大京九批发市场、京九饭店、京九学校等在常平先后涌现，街头随处 可见"京九"的字样。 面对新枢纽崛起的"虹吸效应"与自身枢纽功能老化的双重挑战，常平能否凭借谋划常平站、东莞东站的 高铁（动车）始发站改造、TOD项目建设、产业迭代升级……完成从"交通枢纽"到"生态枢纽"的蜕变？ 南都、N视频推出《"京九第一镇"如何再复辉煌》深调研报道，关注常平的自我重 ...

Group 1 - Amazon has reached a significant milestone with the number of robots in its warehouses hitting 1 million, showcasing the company's enhanced automation capabilities over the past 13 years [1][4] - Approximately 75% of Amazon's global delivery services are supported by robots, highlighting the critical role of automation in the company's operations [1] - The latest robot, Vulcan, features advanced capabilities including tactile sensing and dual arms for inventory management and item retrieval, reflecting ongoing improvements in Amazon's robotic technology [3] Group 2 - Amazon has introduced a new generative AI model called DeepFleet, which is expected to increase the efficiency of robot coordination by approximately 10% [3] - The first of a series of "next-generation logistics centers" has been launched in Louisiana, equipped with ten times the number of robots compared to existing facilities, further demonstrating Amazon's vision for automation in logistics [3] - The development of Amazon's robotics began with the acquisition of Kiva Systems in 2012, marking the start of a journey towards enhanced operational efficiency and technological advancement [4]

6月30日下午3:00，深中通道开通一周年，总车流量超3155万车次，日均超8.64万车次，约占珠江口日 过江总车流量的五分之一。 深中通道的滚滚车流带动着人、财、物等要素加速跨岸流动。这座大桥也影响着珠江口两岸城市的产业 和交通布局。 更深层次的变化也在慢慢发生，深中通道的开通大大缩短了中山货物到深圳港口的距离，对珠江东西岸 的外贸交通格局产生影响。 一些深圳的货代物流企业扩大了在珠江西岸的布局。在物流成本明显降低的带动下，有部分中山企业表 示，其货物已有一半分流到盐田港。 "中山分公司业务量暴增180%" 深中通道补上了珠江口"最后一横"，被珠江隔开的深圳与中山实现直连。 深中通道的开通将深圳与中山的时间距离缩短到一小时以内，让深圳企业看到了中山超高性价比的土 地、人力等资源，也让中山制造的货品得以经由深圳的空港、海港驶向全世界。 "事实上从深中通道开通以前我们就提前扩大了中山分公司规模，现在已经从去年一个营业点增加到四 个。"深圳派格国际物流销售总监陈子豪告诉南方财经，派格物流专营美线海运物流业务，从78年前开 始布局中山，去年一年，其中山分公司的业务量快速增长了180%。 对于未来中山市场的发展前景， ...

Group 1 - The core viewpoint of the articles highlights the performance and market position of SF Holding, indicating a decline in stock price and a comparison of its PE ratio with industry averages [1][2] - As of July 2, SF Holding's stock closed at 48.27 yuan, down 1.89%, with a rolling PE ratio of 22.97 times and a total market capitalization of 240.997 billion yuan [1] - In terms of capital flow, on July 2, SF Holding experienced a net outflow of 88.5187 million yuan, with a total outflow of 42.2472 million yuan over the past five days [1] Group 2 - SF Holding's main business is comprehensive express logistics services, including time-sensitive express, economy express, freight, cold chain, medical delivery, same-city instant delivery, international express, international freight and agency, and supply chain [1] - The company achieved a revenue of 69.850 billion yuan in the first quarter of 2025, representing a year-on-year increase of 6.90%, and a net profit of 2.234 billion yuan, up 16.87%, with a gross profit margin of 13.30% [1] - In 2024, SF Holding received multiple international awards and national-level case certifications in logistics technology, and it was the only Chinese representative to reach the global finals of the Franz Edelman Award in 2025 [1]