2024年，同力股份持续增强新能源产品的研发力度，净承载110吨的产品已经投入矿区验证；更大吨位的产品也在加紧研 发中。据了解，公司将在大型化、新能源、智能化方面不断推出满足市场需求的产品。 本报记者 殷高峰 5月8日下午，陕西同力重工股份有限公司（以下简称"同力股份"）2024年年度股东大会召开。作为国内非公路宽体自卸车 行业的开创者和引领者，同力股份如何保持技术上的领先和市场竞争力、公司未来的发展规划等问题是与会投资者主要关注的 问题。 "公司将紧抓矿山智能化、绿色化转型的机遇，将'大型化、绿色化、智能化'作为技术攻关的关键，采取'前瞻、在研、应 用'研发路线，多点布局，将清洁能源、无人驾驶应用到公司矿车，不断实现产品创新和突破。"同力股份董事长叶磊表示，同 时，公司将进一步推动公司的出海战略，加速海外市场的布局。 增强产品研发力度 "公司未来的发展将由技术引领上升为战略引领。"许亚楠透露，公司未来的战略发展方向主要是海外市场。 "公司在海外市场方面，起步较晚，目前海外市场规模尚小，但空间很大。"叶磊表示，与公司在国内的市场占比相比，公 司海外市场占比还需要大幅度的提升。 目前，同力股份通过设立的新加坡子 ...

Core Insights - The Shenzhen Western Road Logistics Hub project has recently topped out, marking a significant milestone in the development of Shenzhen's production service-oriented national logistics hub [1] - The project is part of Shenzhen's "7+30+N" three-tier logistics station system and is located in Bao'an District, covering an area of approximately 200,000 square meters [1][2] - The hub aims to facilitate dual-use logistics services, supporting both regular and urgent supply needs, thereby enhancing the efficiency of material and goods distribution [1] Group 1: Project Overview - The project took 242 days to complete the main structure, finishing 30 days ahead of the contracted schedule, which lays a solid foundation for subsequent construction [1] - As a flagship project, it represents a major initiative to promote high-quality development in the logistics industry and the integration of advanced manufacturing and modern services in Bao'an District [1][3] Group 2: Strategic Location - The hub is strategically located in Songgang Street, the northwest gateway of Shenzhen, providing convenient access to major highways and proximity to the airport, enhancing its logistical reach within the Guangdong-Hong Kong-Macao Greater Bay Area [2] - The surrounding area includes several advanced manufacturing parks, which have a strong demand for logistics services, allowing the hub to offer comprehensive logistics solutions to local enterprises [2] Group 3: Industry Implications - Bao'an District ranks second in the national innovation index and fourth in the national industrial index, indicating a robust market for manufacturing logistics [3] - The development of the Western Road Logistics Hub is expected to complement the Bao'an Airport Logistics Hub, creating a dual-hub system that will strengthen Shenzhen's position as a global logistics industry center [3] - The efficient integration of land and air resources will be crucial for the logistics industry's upgrade, especially in the context of increasing competition among ports in the Greater Bay Area [3]

Group 1: Highway Expansion Projects - The Guanghui Expressway is expected to have no new network diversion impacts in 2025, following significant effects in 2024 due to high-speed rail and network diversions [1] - The expansion of the Jingzhu Expressway (Zhongshan to Zhuhai section) was completed in September 2024, with other sections planned for completion by 2027 [1] - The Jiangzhong Expressway expansion is fully completed and currently awaiting adjustments to the toll standards [1] - The Huizhan Expressway expansion is nearing completion, with full completion expected in 2025 [1] - The Guanghui Expressway expansion project has received approval from the provincial development and reform commission, with plans to start construction in 2025 and an estimated duration of 5 years [1] Group 2: Traffic Management and Financial Impact - The company is implementing traffic organization plans to minimize the impact of construction on traffic flow, drawing on experiences from previous projects [1] - The necessity of the Guanghui Expressway expansion is underscored by its location in a core traffic hub of the Pearl River Delta, which generates significant toll revenue to support the company's development [2] - The expansion will enhance the company's highway asset scale and focus on highway investment during the "14th Five-Year Plan" period, promoting sustainable high-quality development [2] - The opening of the Shenzhen-Zhongshan Channel is expected to continue affecting traffic flow on the Guangzhu East section in 2025, with the overall impact to be monitored [2] Group 3: Capital Expenditure Plans - Recent capital expenditures are primarily directed towards the expansion projects of controlled highways, including the ongoing Guangzhu East, Yuezhao, and Huizhan expressway projects [2] - The company will fund projects according to their engineering progress to meet the financial needs of construction [2]

交通运输标准化正在推动交通物流降本提质增效、智慧交通发展和交通绿色低碳转型。 交通运输标准化正在推动交通物流降本提质增效、智慧交通发展和交通绿色低碳转型。 交通运输部标准化管理委员会办公室日前推荐了一批交通运输标准化典型案例。相关负责人表示，标准 是经济活动和社会发展的技术支撑，是国家基础性制度的重要方面。标准化在推进国家治理体系和治理 能力现代化中发挥着基础性、引领性作用。 典型案例介绍，贵州喀斯特地貌遍布，早期修建的部分高速公路由于标准偏低，加之受"靠限速降速控 制交通事故"传统思维束缚，导致该省高速公路"断崖式"降速、限速标志设置不规范等问题较为突出。 贵州高速公路上重新安装的限速标志。资料来源：交通运输部 为科学规划铁路专用线接入水运港口、规范海铁联运站场功能区设置、提升运输服务效率和品质，大连 港海铁联运站场进行了标准化改造。辽宁省交通运输厅介绍，在大连港，铁路股道直接延伸至码头前 沿，解决了海铁联运"最后一公里"的瓶颈问题。大连港还优先安排冷藏箱的取送车作业，压缩冷藏箱车 辆的在港停留时间。2024年铁路货车平均在港停时为9.6小时，较2023年10.6小时压缩1小时，较2022年 11.5小时压 ...

市 场 研 究 [Table_Title] 万联晨会 [Table_MeetReportDate] 2025 年 05 月 09 日 星期五 研报精选 "五一"旅游市场平稳增长，长线游与入境游表现亮眼 家电行业 25Q1 基金持仓跟踪报告 交运行业 25Q1 公募基金持仓跟踪报告 | [Table_InnerMarketIndex] 国内市场表现 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌幅% | | 上证指数 | 3,352.00 | 0.28% | | 深证成指 | 10,197.66 | 0.93% | | 沪深 300 | 3,852.90 | 0.56% | | 科创 50 | 1,026.44 | -0.36% | | 创业板指 | 2,029.45 | 1.65% | | 上证 50 | 2,679.51 | 0.33% | | 上证 180 | 8,546.20 | 0.14% | | 上证基金 | 6,902.65 | 0.35% | | 国债指数 | 224.77 | 0.05% | | [Table_InterIndex] | 国际市场表现 | ...

金十图示：2025年05月09日（周五）富时中国A50指数成分股午盘收盘行情一览：银行、航运港口、电力等板块走高，半导体、 消费电子、证券等板块走低 +0.16(+2.19%) +0.05(+0.96%) +0.05(+1.29%) 保险 中国太保 中国平安 中国人保 0 3294.69亿市值 3062.15亿市值 9452.93亿市值 4.22亿成交额 8.83亿成交额 2.68亿成交额 7.45 31.83 51.91 +0.09(+1.22%) +0.04(+0.13%) -0.05(-0.10%) 酸酒行业 贵州茅台 山西汾酒 五粮液 19941.76亿市值 2477.99亿市值 5109.36亿市值 19.69亿成交额 2.57亿成交额 7.74亿成交额 1587.47 131.63 203.12 +9.28(+0.59%) -1.12(-0.55%) -0.17(-0.13%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2911.18亿市值 2351.60亿市值 3349.60亿市值 10.58亿成交额 11.71亿成交额 8.88亿成交额 697.36 144.11 440.23 -8 ...

Group 1 - The core viewpoint of the news highlights the strong performance and increasing popularity of the 300 Dividend Low Volatility ETF, with significant trading volume and net inflows indicating investor confidence [1] - As of May 8, the average daily trading volume of the 300 Dividend Low Volatility ETF over the past week reached 115 million yuan, with a total trading volume of 17.2858 million yuan on a single day [1] - The latest scale of the 300 Dividend Low Volatility ETF has reached 5.497 billion yuan, marking a one-year high, with the latest share count at 4.015 billion shares, also a one-year high [1] Group 2 - The net inflow of funds into the 300 Dividend Low Volatility ETF was 52.0532 million yuan, with six out of the last seven trading days showing net inflows totaling 85.8945 million yuan [1] - The top ten weighted stocks in the CSI 300 Dividend Low Volatility Index as of April 30, 2025, include major companies such as China Shenhua, Gree Electric, and Sinopec, accounting for a total of 37.43% of the index [1] - A report from Huatai Securities indicates that recent financial policies aimed at stabilizing the market and improving expectations, along with positive developments in Sino-US trade relations, are likely to support the risk appetite of market participants [1] Group 3 - The report suggests that mid-term investments should focus on large-cap stocks, particularly in sectors like technology and consumer goods, which are expected to benefit from policy support [1] - For investors without stock accounts, there is an opportunity to invest in the corresponding CSI 300 Dividend Low Volatility ETF linked fund (007606) [2]

华泰证券研报指出，展望5月，推荐供需改善的航空、运价有望抬升的油运、在红利板块中具备业绩优 势的公路以及部分业绩稳健的个股：1)航空：中期看好供给放缓带来的潜在盈利弹性，暑运旺季或催化 行情；2)油运：OPEC+增产有望提振5月运价；3)公路：一季度业绩稳健，在红利板块中具有比较优 势。避险情绪与利率均支撑红利估值，建议参与分红填权行情。 NO.2中金公司：中期维度下，政策有望刺激高端白酒需求企稳 中金公司（601995）研报认为，1)当前白酒需求景气度已处历史底部(过去五年景气度分位数28%)，向 下风险或有限。2)政策较宽松为消费回暖提供基础，1—3月份经济数据已有表现，预计更多托底政策出 台将助力白酒需求稳步筑底回升。3)未来白酒需求或以较慢斜率小幅回升，从消费场景看，短期大众需 求偏刚性，且同期低基数下，宴席需求或有望有所表现；中期维度下，政策刺激有望刺激高端白酒需求 企稳。全年白酒业绩在三四季度低基数支撑下或呈先抑后扬的走势。 NO.3中国银河（601881）证券：继续看好银行板块配置价值 ｜2025年5月9日星期五｜ NO.1华泰证券：交运板块关注航空、油运、公路 中国银河证券指出，一揽子金融政策 ...

Core Viewpoint - The article discusses Hainan Highway's strategic shift towards "smart transportation" while maintaining its core business in traditional highway operations, emphasizing the integration of digital and intelligent technologies to enhance traffic efficiency and safety [2][3][4]. Group 1: Business Strategy and Transformation - Hainan Highway is focusing on "smart transportation" as a new growth area while continuing to develop its traditional highway business, aiming to embrace new production capabilities [3]. - The company has a diverse business portfolio, including highway construction, maintenance, real estate development, and tourism services, with transportation business revenue accounting for 67.07% of total revenue [3]. - Following the restructuring of Hainan Transportation Investment Holding Co., Ltd., Hainan Highway is positioned as the only listed company under it, tasked with building a modern comprehensive transportation system [3]. Group 2: Smart Transportation Initiatives - "Smart transportation" involves upgrading traditional traffic systems using digital and intelligent technologies, creating a comprehensive network for traffic data collection and analysis to improve infrastructure efficiency and management [4]. - Hainan Highway has initiated several projects, including the establishment of the Lingshui Intelligent Computing Center, to support the development of smart transportation and related services [5][6]. - The company is actively involved in the "car-road-cloud integration" pilot project, which aims to commercialize smart transportation applications across various scenarios [6][7]. Group 3: Future Development Directions - Hainan Highway is exploring additional avenues such as "transportation + new materials," "transportation + low-altitude," and "transportation + tourism" to find new growth drivers [8]. - The company plans to enhance its material supply chain with green and low-carbon materials, and leverage its resources to develop automated tourist services and smart navigation [8]. - Hainan Highway is in the strategic planning phase for its "transportation +" initiatives, focusing on capital operations and resource synergy to enhance shareholder value [8].

Core Viewpoint - In April, China's road transportation demand showed a slight growth trend, with the logistics price index indicating a stable market environment [1][2]. Summary by Category Market Performance - The road logistics price index for April was 105 points, reflecting a month-on-month increase of 0.23% and a year-on-year increase of 2.09%, indicating good market activity [1]. - The full truckload index was 105.5 points, up 0.29% from the previous month and up 2.45% year-on-year, driven by bulk commodities and regional transportation [1]. - The less-than-truckload (LTL) light cargo index was 102.7 points, down 0.01% month-on-month but up 0.43% year-on-year, while the LTL heavy cargo index was 105.5 points, up 0.29% month-on-month and up 2.56% year-on-year [1]. Economic Context - The overall economic environment in China remains stable, with market demand showing a steady improvement, contributing to the slight growth in transportation demand [1]. - The "May Day" holiday led to a short-term release of demand, maintaining a good balance between supply and demand in the road transportation market [1]. Regional Insights - Regionally, the price index in Central and Northwest China saw a decline, while indices in Northeast, North China, Southwest, Pearl River Delta, and Yangtze River Delta regions experienced increases [1]. Future Outlook - Analysts suggest that China's large-scale market advantage will support continued stabilization and expansion of market demand, with companies maintaining an optimistic outlook for the future [2].