2025年，中国，CR450动车组样车跑出每小时450公里的全球最快速度，再次刷新纪录。 从时速24公里到时速450公里，跨越200年的巨变令人振奋。在这样特殊的节点，第十二届世界高速铁路 大会于7月8日至11日在北京举办。透过本届大会，能观察到哪些新动向？ 铁路诞生200年了。 1825年，英国，斯托克顿—达灵顿铁路正式通车，列车最高运行时速24公里； 中国高铁里程占世界高铁总里程的70%以上 世界高铁看中国 "中国高铁，实现了从追赶到领跑。""中国高铁，站上了世界舞台中央。"在第十二届世界高铁大会上， 不少人如此感慨。 数据为证—— 15年前，第七届世界高铁大会首次在中国举办，彼时中国高铁里程仅7531公里。 15年后，世界高铁大会再次来到中国，中国高铁营业总里程已达4.8万公里，覆盖全国97%的50万人口 以上城市，占世界高铁总里程的70%以上。 15年间，中国高铁里程增加了5倍多，重塑了世界高铁格局。 实力说话—— 一列车，树起高铁技术国际标杆。 搭载永磁牵引电机"心脏"、穿着一体化全包覆结构"铠甲"，本届世界高铁大会上，CR450动车组样车是 当之无愧的明星。 作为中国研制的最新一代动车组列车，CR ...

今年是世界铁路诞生200周年。 7月8日至11日，第十二届世界高速铁路大会在北京举办，主题为"高速铁路：创新发展让生活更美好"。 从会议获悉，作为"国家名片""国际标杆"，中国高铁从零起跑，自主研发以复兴号为代表的一大批科技 创新成果，高铁技术水平总体迈入世界先进行列、部分领域达到世界领先，中国高铁世界领跑优势持续 扩大。 数据显示，截至2024年年底，中国高铁营业里程4.8万公里，超过世界高铁总里程的70%，中国的动车 组列车累计发送旅客229亿人次。中国高铁的发展极大方便了人们出行，有力促进了区域互联互通和经 济社会协调发展，带动了沿线城市建设和产业发展，成为共建"一带一路"国家基础设施互联互通和文明 交流互鉴的重要纽带，正日益成为造福全人类的重要公共产品。 技术更先进 按下按钮，推动手柄启动列车，巨幕中的风景迅速后移，驾驶时速350公里复兴号动车组列车的体验感 十足。 中国铁道科学研究院信息所副所长赵向红介绍，高铁自动驾驶技术集成了大数据、人工智能、5G通信 等前沿科技，不仅能够提升列车运行的安全性与准点率，还能优化能源管理，降低运营成本，为旅客带 来更安全、舒适、高效的出行体验。 在第十七届中国国际现 ...

企业名称赣州商桥联捷供应链有限公司法定代表人温来注册资本300万人民币国标行业交通运输、仓储 和邮政业>多式联运和运输代理业>运输代理业地址江西省赣州市南康区龙岭镇赣南大道东侧中国中部 国际物流商贸城10-1栋商铺138号企业类型有限责任公司(自然人投资或控股)营业期限2025-7-10至无固 定期限登记机关赣州市南康区市场监督管理局 来源：金融界 天眼查App显示，近日，赣州商桥联捷供应链有限公司成立，法定代表人为温来，注册资本300万人民 币，江西驿车源服务管理有限公司、赣州犹捷物流有限公司持股。 序号股东名称持股比例1江西驿车源服务管理有限公司60%2赣州犹捷物流有限公司40% 经营范围含许可项目：住宿服务，餐饮服务，机动车检验检测服务（依法须经批准的项目，经相关部门 批准后在许可有效期内方可开展经营活动，具体经营项目和许可期限以相关部门批准文件或许可证件为 准）商业综合体管理服务，餐饮管理，停车场服务，休闲观光活动，洗车服务，洗车设备销售，机动车 修理和维护，轮胎销售，石油制品销售（不含危险化学品），紧急救援服务，汽车拖车、求援、清障服 务，集中式快速充电站，光伏发电设备租赁，光伏设备及元器件销售，生 ...

每经记者｜肖纯 每经编辑｜杨欢 一条新的物流通道正在改写中国西南的"出海版图"。 就在几天前，集装箱列车"郑和号"从昆明晋宁启程，经老挝万象、泰国拉廊港，最终抵达孟加拉国吉大港。 这条线路最为显著的特点就是绕开马六甲海峡，从昆明直达印度洋港口，这也标志着中国西南连接印度洋的国际物流大通道正式贯通。 马六甲海峡一直是连接沟通太平洋与印度洋的国际水道，是亚、非、欧等沿岸国家往来的重要海上通道，由于其战略位置的重要性，马六甲海峡曾多次成为 国际冲突的焦点。 眼下，这条从我国内陆直抵印度洋的大通道有多重要？除了再次为昆明的枢纽地位加持，它对于我国西部边境省份，甚至整个西部区域又将带来怎样的变 化？ 01 先来看看这条略显复杂的通道。 "郑和号"海公铁国际多式联运班列，通过中老铁路抵达老挝万象后，接驳公路至泰国拉廊港，通过海运抵达缅甸仰光港，再继续航行至孟加拉国吉大港。 按照官方报道，除了"郑和号"走的线路，该通道还有两条分支，都是通过中老铁路抵达老挝万象，一条换乘泰国铁路到达泰国北标府，另一条接驳公路驶至 泰国林查班港，通过海运到达新加坡。 此前昆明货物运到孟加拉国，需要先铁路运输至钦州港，再换装海运经马六甲海峡到达 ...

Core Viewpoint - U.S. travel stocks have risen, driven by Delta Air Lines' positive earnings outlook indicating a rebound in demand [1] Group 1: Company Insights - Delta Air Lines has provided an optimistic earnings forecast, suggesting a strong recovery in travel demand [1] - The performance of Delta is seen as a bellwether for the broader airline industry, reflecting overall market sentiment [1] Group 2: Industry Trends - The increase in travel stocks signals a potential resurgence in the travel sector as consumer confidence grows [1] - Analysts are closely monitoring the airline industry's recovery trajectory, particularly in light of Delta's performance [1]

北京市嘉源律师事务所 关于春秋航空股份有限公司 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONGKONG·广州 GUANGZHOU·西安 XI`AN 致：春秋航空股份有限公司 北京市嘉源律师事务所 关于春秋航空股份有限公司 差异化分红事项之 专项法律意见书 差异化分红事项之 专项法律意见书 嘉源(2025)-05-216 北京市嘉源律师事务所（以下简称"本所"）接受春秋航空股份有限公司（以 下简称"公司"或"春秋航空"）委托，根据《中华人民共和国公司法》（以下简称 "《公司法》"）、 《中华人民共和国证券法》 （以下简称"《证券法》"）、 《上海证券 交易所上市公司自律监管指引第 7 号——回购股份》（以下简称"《回购股份指 引》"）等相关法律、法规、规范性文件及《春秋航空股份有限公司章程》的规 定，按照律师行业公认的业务标准、道德规范和勤勉尽责精神出具。 为出具本法律意见书之目的，本所经办律师依照现行有效的法律法规以及中 国证券监督管理委员会（以下称"中国证监会"）相关规章、规范性文件的要求和 规定，对与本次差异 ...

Summary of Key Points Core Viewpoint - The company has announced an adjustment to the maximum repurchase price of its shares following the implementation of the 2024 annual equity distribution, reducing the limit from 60 CNY to 59.1842 CNY per share [1][2][3]. Group 1: Share Repurchase Details - The company plans to repurchase its shares using its own and self-raised funds through the Shanghai Stock Exchange, with a total repurchase amount between 150 million CNY and 300 million CNY [1]. - The repurchase period will not exceed 12 months from the date of the board's approval of the repurchase plan [1]. Group 2: Reasons for Price Adjustment - The adjustment in the repurchase price limit is due to the cash dividend distribution of 0.82 CNY per share, which will not affect the total number of circulating shares [2][3]. - The formula used for the adjustment is based on the cash dividend and the change in circulating shares, which in this case remains zero due to the nature of the distribution [2]. Group 3: Calculation of Adjusted Price - The adjusted maximum repurchase price is calculated as follows: (60 CNY - 0.8158 CNY) / (1 + 0) = 59.1842 CNY per share [3]. - The estimated number of shares to be repurchased will depend on the actual repurchase situation, based on the lower limit of 150 million CNY [3]. Group 4: Other Matters - Other aspects of the share repurchase plan remain unchanged, and the company will continue to implement the plan based on market conditions while fulfilling disclosure obligations [3].

Performance Forecast - The company expects a net profit attributable to shareholders of approximately 295 million yuan for the period from January 1, 2025, to June 30, 2025, representing an increase of 88.99% compared to the same period last year, which was 156.09 million yuan [1] - The net profit after deducting non-recurring gains and losses is estimated to be around 133 million yuan, a decrease of 17.98% from the previous year's 162.15 million yuan [1] - The basic earnings per share is projected to be approximately 0.2023 yuan, compared to 0.1070 yuan in the same period last year [1] Communication with Auditor - The company has communicated with Zhongxinghua Certified Public Accountants regarding the performance forecast, and there are no significant disagreements on the forecast [1] - The half-year performance forecast for 2025 has not been audited by the registered accountant [1] Reasons for Performance Changes - The main reason for the profit change is the increase in costs such as labor, vehicle maintenance, and depreciation, which led to a decrease in gross profit from railway transportation by approximately 33 million yuan [1] Subsidiary Bankruptcy - The company's wholly-owned subsidiary, Ningxia Dagu Logistics Co., Ltd., has been accepted for bankruptcy liquidation by the Yinchuan Intermediate People's Court, resulting in the loss of control over the subsidiary [2] - The company will remove Ningxia Dagu Logistics from its consolidated financial statements, leading to a recognition of non-recurring gains of 164.50 million yuan from this investment [2]

Group 1 - In May 2025, Estonia's total goods trade reached €3.43 billion, a year-on-year increase of 4.1% [1] - Exports amounted to €1.57 billion, growing by 1.9%, while imports were €1.86 billion, increasing by 6.1% [1] - The trade deficit was €280 million, which is an increase of €78 million compared to the same period last year [1] Group 2 - The most exported goods in May 2025 were electrical equipment, accounting for 15.3% of total exports, with an 11% year-on-year increase [1] - Agricultural products and food preparations made up 12.7% of exports, growing by 16% [1] - The largest import category was agricultural products and food, comprising 13.7% of total imports, with a 5% increase [1] Group 3 - In the first five months of 2025, Estonia's total goods trade reached €17.17 billion, a year-on-year increase of 9.6% [2] - Cumulative exports for this period were €7.85 billion, up by 9.3%, while imports totaled €9.32 billion, increasing by 9.8% [2] - The trade deficit for the first five months was €1.46 billion, which is an increase of €160 million compared to the previous year [2]

Oil Market - International oil prices experienced a sharp decline, with NYMEX WTI crude oil dropping over 2% and ICE Brent crude oil falling nearly 2% [1] - OPEC is reportedly discussing a pause in further production increases after next month's planned output rise, with a target to restore 2.2 million barrels per day by September, which includes an additional 550,000 barrels per day [1] - Goldman Sachs predicts that OPEC is likely to halt further production increases after the next collective output rise, focusing market attention on subsequent actions [1] OPEC Meeting - Representatives from Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman held an online meeting to discuss the international oil market's situation and outlook, deciding to adjust production based on market conditions [2] - These eight countries announced a daily increase of 411,000 barrels in July, with a voluntary reduction measure of 2.2 million barrels per day announced in November 2023, which has been extended multiple times until March 2025 [2] Gold Market - International gold prices saw a slight increase, with London gold rising by 0.36% [3] US Stock Market - The US stock market showed mixed performance, with the Dow Jones up by 0.17%, S&P 500 down by 0.12%, and Nasdaq down by 0.48% [4][5] - Major tech stocks mostly declined, while Tesla rose over 3% amid news of potential expansion of its autonomous taxi service [4][5] Airline Industry - Airline stocks surged, with Delta Air Lines up over 13%, United Airlines up over 11%, and American Airlines up over 9% following Delta's strong Q2 financial results, reporting a net profit of $2.13 billion, a 63% year-on-year increase [6] MP Materials - MP Materials' stock surged over 50% after announcing a multi-billion dollar agreement with the US Department of Defense to build a rare earth permanent magnet factory [7] - The Department of Defense will purchase $400 million in preferred stock from MP Materials, making it the largest shareholder, and a second magnet manufacturing facility is planned to be operational by 2028 [8] - The Department of Defense has agreed to guarantee a minimum price of $110 per kilogram for neodymium-praseodymium over the next decade, which is crucial for electric vehicle motors and wind turbines [9]