德邦股份公告称， 公司拟以股东会决议方式主动撤回A股股票在上海证券交易所的上市交易， 并在取得上海证券交易所终止上市决定后申请在全国 中小企业股份转让系统退市板块继续交易。 该事项尚需经出席德邦股份股东会的全体股东所持有效表决权的三分之二以上通过。根据德邦股份公告，现金选择权的提供方为京东物流运输有限 公司。现金选择权的行权价格为19.00元/股。本次现金选择权的股权登记日拟定为2026年2月6日（如有调整，由公司董事会另行公告具体调整情 况）。 此举是为了更好地顺应物流行业的发展趋势，更为高效、有力地统筹协调与整合京东物流体系内的物流资源，亦考虑积极践行公司间接控股股东京 东卓风于收购公司时作出的关于同业竞争的承诺。 公司终止上市后，公司的资产、人员、业务将不会受到不利影响，仍保持独立的品牌及运营。公司股票于2026年1月14日（星期三）开市起复牌。 ...

Core Viewpoint - The company, Debang, announced its decision to voluntarily withdraw its A-shares from trading on the Shanghai Stock Exchange and will apply for continued trading on the National Equities Exchange and Quotations (NEEQ) after obtaining the delisting decision from the Shanghai Stock Exchange. This move is aimed at better aligning with the logistics industry's development trends and effectively coordinating resources within the JD Logistics system [1]. Group 1 - The decision to withdraw A-shares was proposed by the indirect controlling shareholder, Suqian JD Zhuofeng Enterprise Management Co., Ltd. [1] - The company's board of directors has approved the proposal to withdraw from the Shanghai Stock Exchange [1]. - The withdrawal is part of a commitment made by JD Zhuofeng during the acquisition of Debang Logistics to address issues of industry competition [1].

德邦股份1月13日公告，为了更好地顺应物流行业的发展趋势，更为高效、有力地统筹协调与整合京东 物流体系内的物流资源，亦考虑积极践行公司间接控股股东京东卓风于收购公司时作出的关于同业竞争 的承诺，根据《股票上市规则》等相关法律、法规及规范性文件的规定，经京东卓风提议，并经公司董 事会审议通过，公司拟以股东会决议方式主动撤回A股股票在上海证券交易所的上市交易，并在取得上 海证券交易所终止上市决定后申请在全国中小企业股份转让系统退市板块继续交易。公司终止上市后， 资产、人员、业务将不会受到不利影响，仍保持独立的品牌及运营。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 JD Logistics, Inc. 京東物流股份有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2618） 須予披露的交易 擬主動撤回德邦股份於上海證券交易所的上市交易及 擬向德邦股東提供現金選擇權 2026年1月13日，宿遷京東卓風（本公司全資子公司，亦為德邦的間接控股股東）已提 議，並經德邦董事會批准，德邦擬透過德邦股東會批准的方式，主動撤回德邦股份於 上海證券交易所的上市交易。 為保障德邦股東的利益，作為擬撤回上市方案的一部分，買方（本公司的全資子公司） 將在獲得德邦的股東批准後，立即向德邦股東發出擬現金選擇權，以每股人民幣19.0 元的價格收購德邦目標股份（即德邦所有剩餘股份，不包括本集團及其一致行動人已 擁有的股份及德邦註銷股份）。截至本公告日，德邦股東合計持有202,782,159股德邦股 份（不包括德邦庫存股）（佔19.99%的總德邦股份（不包括德邦庫存股）。不包括德邦註銷 股份 ...

Core Viewpoint - Changlian Co., Ltd. has announced the election of its new board members and committees during the first meeting of the fifth board of directors [2] Group 1 - The company has approved multiple resolutions, including the election of the chairman of the fifth board of directors [2] - The election of the vice chairman of the fifth board of directors has also been approved [2] - The company has elected members for its specialized committees within the fifth board of directors [2]

Core Viewpoint - The logistics sector experienced a decline of 0.53% on January 13, with Longzhou Co. leading the drop. The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1]. Group 1: Market Performance - The logistics sector saw individual stock performances with notable gainers such as Jushen Co. (up 10.02% to 19.44) and Pulutong (up 10.00% to 13.75) [1]. - Longzhou Co. led the decline with a drop of 9.94% to 7.79, followed by Xiamen Xiangyu (down 2.84% to 8.22) and Xiamen Guomao (down 2.36% to 7.04) [2]. Group 2: Trading Volume and Value - Jushen Co. had a trading volume of 229,200 shares and a transaction value of 441 million yuan, while Pulutong had a volume of 468,300 shares and a value of 618 million yuan [1]. - Longzhou Co. recorded a trading volume of 1,475,900 shares with a transaction value of 1.206 billion yuan, indicating significant trading activity despite the decline [2]. Group 3: Capital Flow - The logistics sector experienced a net outflow of 419 million yuan from institutional investors, while retail investors saw a net inflow of 380 million yuan [2]. - Individual stocks like Pulutong had a net inflow of 64.9 million yuan from institutional investors, while Jushen Co. saw a net inflow of 35.9 million yuan [3].

Group 1 - The company, Changlian Co., announced that its fifth board meeting will be held on January 13, 2026, at the Jinglu Road 68 Conference Center, utilizing both in-person and remote voting methods [1] - The meeting will review proposals including the election of members for the specialized committees of the fifth board of Shanghai Changlian International Logistics Co., Ltd [1] Group 2 - The industry is experiencing challenges with rising raw material costs, such as silver, leading to difficult decision-making for companies [1] - Some solar energy companies are rushing to export products, indicating a competitive market environment as they aim to meet delivery deadlines before April 1 [1]

Group 1 - The event "Shandong-Netherlands Logistics and Chemical Industry Exchange" was successfully held in Jinan, co-hosted by the Shandong Provincial Foreign Affairs Office and the Netherlands Trade Promotion Council Qingdao Representative Office [1] - Key representatives from Dutch institutions and companies, including De Rijke Group and Alblas International Logistics, participated in the event, promoting their businesses [1] - The Shandong Provincial Department of Industry and Information Technology provided an overview of the transformation and global layout of the chemical industry in Shandong [1] Group 2 - The event facilitated in-depth business connections between over ten Shandong enterprises and Dutch companies, focusing on the transformation and upgrading of Shandong's chemical industry [1] - The collaboration aims to enhance Shandong's chemical enterprises' integration into the global supply chain and explore markets in Europe and other regions [1] - Shandong is recognized as China's leading chemical province, while the Netherlands is a global chemical powerhouse and a logistics hub in Europe, indicating significant potential for cooperation [1]

Report Information - Report Type: Fixed Income Report - Release Time: January 13, 2026 - Analysts: Liang Weichao (SAC Registration No.: S1340523070001), Cui Chao (SAC Registration No.: S1340523120001) [1][2] Investment Rating - The provided content does not mention the report's industry investment rating. Core Viewpoints - High - frequency economic data focuses on: production - end heat differentiation with increased coke oven, blast furnace, and PX operating rates and increased rebar production, but decreased asphalt and automobile tire operating rates; decreased commercial housing transactions and land supply areas; overall price recovery with rising energy and metal prices (copper prices hitting new highs) and falling agricultural product prices (except for rising pork prices). Short - term focus on the implementation of fiscal and monetary coordinated policies [3][35] Section Summaries Production - Steel: In the week of January 9, coke oven capacity utilization increased by 0.87 pct, blast furnace operating rate increased by 0.37 pct, and rebar production increased by 8.56 tons. - Petroleum Asphalt: In the week of January 7, the operating rate continued to decline by 2.0 pct at a low level. - Chemicals: On January 9, the PX operating rate increased by 1.67 pct, and the PTA operating rate remained flat. - Automobile Tires: In the week of January 8, the all - steel tire operating rate decreased by 0.13 pct, and the semi - steel tire operating rate decreased by 2.36 pct [4][13][14] Demand - Real Estate: In the week of January 11, commercial housing transaction area decreased, inventory - to - sales ratio increased, land supply area decreased, and residential land transaction premium rate increased. - Movie Box Office: In the week of January 4, it increased by 515 million yuan compared with the previous week. - Automobile: In the week of December 31, the daily average retail sales of automobile manufacturers increased by 33,000 vehicles, and the daily average wholesale sales increased by 91,000 vehicles. - Shipping Freight Rates: In the week of January 9, the SCFI index decreased by 0.54%, the CCFI index increased by 4.21%, and the BDI index dropped significantly by 10.31% at a high level [5][17][21][24] Prices - Energy: On January 9, Brent crude oil prices rose by 4.26% to $63.34 per barrel, and coking coal futures prices rose by 6.5% to 1,188 yuan per ton. - Metals: On January 9, LME copper, aluminum, and zinc futures prices changed by +4.31%, +3.81%, and +0.85% respectively, and domestic rebar futures prices rose by 0.61%. - Agricultural Products: On January 9, the overall price of agricultural products declined, with the 200 - index of agricultural product wholesale prices dropping by 0.56%. Pork, eggs, vegetables, and fruits prices changed by +1.18%, +2.03%, -1.43%, and -0.63% respectively compared with the previous week [6][26][28] Logistics - Subway Passenger Volume: On January 11, the seven - day moving average of subway passenger volume in Beijing and Shanghai increased. - Flight Volume: On January 11, the seven - day moving average of domestic and international flight volumes decreased. - Urban Traffic: On January 11, the seven - day moving average of the peak congestion index in first - tier cities increased [7][31][33]

Group 1 - The core viewpoint of the article emphasizes the growing importance of ESG (Environmental, Social, and Governance) as a key metric for high-quality corporate development and a vital link between corporate value and social value [1][2] - The "2025 China Enterprise ESG Top 100" list was released by Sina Finance, evaluating over 5,000 A-share listed companies and mainland enterprises listed in Hong Kong using 18 industry ESG evaluation models and over 150 ESG indicators [1][2] - The list serves as a benchmark for industry development and provides valuable decision-making references for investors [1][2] Group 2 - SF Holding was recognized for its significant contributions in the ESG field, ranking 83rd on the "2025 China Enterprise ESG Top 100" list [2][9] - The publication of the list is a formal acknowledgment of the sustainable development practices of the listed companies and promotes the core values of ESG across the industry [2][9] - Companies are encouraged to integrate ESG principles into their strategic planning, operations, and supply chain collaboration to achieve a symbiotic relationship between commercial and social value [2][9] Group 3 - The Sina Finance ESG Rating Center is the first Chinese professional information and rating aggregation platform focused on ESG, aiming to promote sustainable development and responsible investment [11] - The center is dedicated to establishing ESG evaluation standards suitable for China's characteristics and advancing the development of ESG investment in the asset management industry [11]