交通运输业是经济社会发展的关键领域，发挥着先导性、基础性、保障性作用。12月23日下午，国新办 举行新闻发布会，介绍新时代交通运输服务经济社会高质量发展有关情况。 在新闻发布会上，交通运输部副部长李扬亮出了一组组数据：预计今年将完成交通固定资产投资超3.6 万亿元，新增高速铁路超2000公里、高速公路约8000公里、高等级航道约900公里，新增颁证民用运输 机场5个。 跨区域人员流动量超660亿人次，完成营业性货运量超580亿吨，同比增长3.5%左右。港口外贸集装箱 吞吐量增长约9.6%，国际航空货运增长20%，快递业务增长13.5%左右。 对于"十五五"交通发展，李扬表示，下一阶段，将围绕高质量发展的主题，把完善现代化综合交通运输 体系作为主攻方向，聚焦加快建设国家综合立体交通网和一体化融合、安全化提升、数智化转型、绿色 化升级，围绕完善基础设施布局、优化交通运输结构、增强基础支撑功能、培育高质量发展新动能、提 升安全韧性水平、提高行业治理效能等几个方面，谋划实施一批重大战略任务、重大改革措施和重大工 程项目。 "十四五"交通固投18.8万亿 今年是"十四五"规划的收官之年，五年来，交通运输部规划的重大交通 ...

Core Viewpoint - The press conference highlighted significant advancements in China's transportation infrastructure during the 14th Five-Year Plan period, with a focus on the construction of a comprehensive transportation network and upcoming key projects for the 15th Five-Year Plan period [2][4][6]. Group 1: Achievements during the 14th Five-Year Plan - The construction of major transportation infrastructure projects has progressed smoothly, achieving breakthrough advancements in the national comprehensive transportation network [4]. - The "6 axes, 7 corridors, and 8 channels" framework of the national comprehensive transportation network is largely completed, connecting over 80% of county-level administrative regions and serving approximately 90% of the national economy and population [4]. - Fixed asset investment in transportation reached 18.8 trillion yuan, significantly enhancing transportation capacity and operational efficiency [4]. Group 2: Key Projects and Future Plans for the 15th Five-Year Plan - The Ministry of Transport aims to accelerate the construction of a strong transportation nation, focusing on modernizing the comprehensive transportation system and planning several major projects [6]. - Notable projects expected to be completed during the 15th Five-Year Plan include the Lion's Mouth Channel, Zhangjingao Yangtze River Bridge, and the Eastern Hub Shanghai East Station [6]. - Additional projects such as the G219 and G331 border corridors, G228 coastal national road, and the improvement of the Sichuan-Tibet Highway G318 are also set to advance [6].

今天，国务院新闻办公室举行新闻发布会，交通运输部综合规划司副司长金敬东介绍，新一轮大规模设 备更新和消费品以旧换新政策开展以来，交通运输行业坚决贯彻落实党中央、国务院决策部署，持续实 施设备更新七大行动，加快推动新一轮交通运输领域设备更新换代，交通运输设备绿色化、智能化和安 全水平大幅提升。截至今年11月底：铁路方面，淘汰老旧型铁路内燃机车更新新型机车450余台。公路 及城市交通方面，淘汰国三和国四标准营运柴油货车25万余辆；推动新购新能源冷链运输车超过2.7万 辆。水路方面，支持老旧船舶报废更新动力船舶和报废更新老旧船舶约1.2万余艘。民航方面，支持开 展汽柴油机场场内作业车辆等更新。邮政快递方面，更新末端配送车辆、老旧分拣设备8万多台 （套）。 ...

2025 年 12 月 23 日 业务结构优化，新产业破局 —中国中车（601766.SH）公司动态研究报告 买入(维持) 投资要点 分析师：尤少炜 S1050525030002 yousw@cfsc.com.cn 铁路装备作为核心主业，受益于干线铁路建设与检修后市场 需求，保持高速增长；新产业聚焦清洁能源装备（风电、储 能等），契合"双碳"战略，成为重要增长极；城轨与现代 服务业务稳步推进，多板块协同形成抗周期能力。2025 年前 三季度，公司实现总营收 1838.65 亿元，同比增长 20.49 %， 实现归母净利润 99.64 亿元，同比上升 37.53%。分业务来看 2025 年上半年公司铁路装备实现收入 597.06 亿元，同比增长 42.21%，主因动车组、货车业务需求旺盛。新产业业务收入 407.33 亿元，同比增长 35.59%，以清洁能源装备为核心增长 极，风电整机及零部件、储能设备、氢能装备等业务快速拓 展，"氢春号"氢能源有轨电车正式运行，"启航号"漂浮 式风机完成并网试运行。城轨与城市基础设施业务收入 174.02 亿元，同比增长 6.27%，主因城轨地铁车辆新造业务 增加。 -30 ...

Core Insights - The integration of Shanghai and Suzhou has reached a significant milestone with improved transportation links, but the next phase focuses on smoother operational integration rather than just speed [1][2][3] - The recent proposal by the Jiangsu Provincial Party Committee emphasizes the need for Suzhou to transition from merely learning from Shanghai to fully integrating with it, highlighting the importance of addressing discrepancies in standards, interests, and assessments [1][2] Group 1: Hard Connectivity Achievements - The Shanghai Metro Line 11 has been extended to Kunshan, and high-speed rail travel between Suzhou North Station and Shanghai Hongqiao has been reduced to approximately 23 minutes [1] - The combined GDP of Shanghai and Suzhou is projected to exceed 8 trillion yuan in 2024, with Shanghai at 5.39 trillion yuan and Suzhou at 2.67 trillion yuan [1] Group 2: Soft Frictions in Integration - The main challenges in the integration process are categorized into three types of "soft frictions": differences in standards and processes, difficulties in benefit distribution, and structural constraints from assessment and competition logic [2][3] - The fragmentation in standards and processes leads to increased hidden costs for businesses operating across cities, as multiple recognitions and submissions are required [2] Group 3: Institutional Tools for Collaboration - Effective solutions to the identified soft frictions involve creating executable, assessable, and replicable institutional tools rather than merely increasing coordination meetings [4][5] - The Long Triangle Ecological Green Integration Development Demonstration Zone has successfully transformed cross-provincial collaboration from project-based to rule-based, addressing common bottlenecks with a practical "toolbox" approach [4] Group 4: Focus on Public Welfare - The integration's success is also measured by its impact on public welfare, with initiatives to streamline cross-city services such as social security transfers and public housing loans, aiming for completion within three working days [5] - The establishment of a unified social security card system aims to enhance daily experiences of integration by covering various services like transportation and library access [5] Group 5: Expanding Institutional Frameworks - The current focus should be on expanding successful practices from pilot projects into a broader institutional product library, allowing for systematic operation rather than isolated breakthroughs [6] - The goal is to align evaluation standards and regulatory measures across regions, facilitating smoother project approvals and enhancing the overall experience of integration for residents and businesses [6] Group 6: National Demonstration Significance - The Shanghai-Suzhou integration serves as a national model for cross-provincial collaboration, emphasizing the need for both speed and clarity in operational processes [7] - The ongoing investment in infrastructure, such as the 600 billion yuan allocated for railway construction in the Yangtze River Delta during the 14th Five-Year Plan, supports this integration effort [7]

Group 1 - The National Internet Information Office and the China Securities Regulatory Commission are intensifying efforts to address false information related to the capital market, taking legal action against accounts spreading rumors and illegal stock recommendations [3] - Specific accounts mentioned include "Eight Sister Invincible" for spreading regulatory rumors, "Financial Report Wind and Cloud" for aggregating false information about listed companies, and "Finance Weekend Teacher" for using AI to fabricate market information [3] - The authorities remind the public to establish correct investment concepts, enhance risk awareness, and improve the ability to discern financial information [3] Group 2 - The Ministry of Commerce reported that from January to November, the national online retail sales increased by 9.1%, with digital products growing by 8.2%, and online service consumption rising by 21.7% [3] - The Ministry of Education announced that the national master's degree entrance examination will take place on December 20-21, urging candidates to comply with examination regulations [3] - The State Administration for Market Regulation has amended the "Provisions on Prohibiting Monopoly Agreements," which will take effect on February 1, 2026, clarifying conditions for permissible vertical monopoly agreements [3]

Economic Performance - The provincial economy has shown steady progress in the first 11 months of the year, with industrial growth and a vibrant service sector contributing to a stable recovery in the consumer market [1] - The industrial added value for large-scale enterprises increased by 6.6% year-on-year from January to November, with a monthly growth of 5.1% in November [1] - Key sectors such as equipment manufacturing, high-tech manufacturing, and digital core product manufacturing saw growth rates of 7.5%, 10.4%, and 10.2% respectively [1] Service Sector - The service industry has shown a steady recovery, with large-scale service industry revenue increasing by 7.5% year-on-year from January to October [1] - Notable growth was observed in residential services, repair and other services (15.5%), leasing and business services (13.4%), and scientific research and technical services (10.1%) [1] - Financial operations remained stable, with the balance of RMB deposits in financial institutions reaching 27 trillion yuan, a year-on-year increase of 7.8% [1] Consumer Market - The consumer market is experiencing a steady recovery, with total retail sales of consumer goods reaching 42,586.8 billion yuan, reflecting a year-on-year growth of 3.8% from January to November [2] - Sales in the wholesale and retail sectors increased by 5.1% and 7.1% respectively, while the accommodation and catering sectors saw growth rates of 2.5% and 5.4% [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 二、CRH380D型动车组闸片通过小批量试用的意义 2021年，公司已获得200~250km/h燕尾I-B型粉末冶金闸片(C.3/C.5)和200~250km/h非燕尾型粉末冶金闸 片(C.3/C.5)的CRCC产品认证证书。此次CRH380D型动车组闸片通过小批量试用，获得了该产品进行市 场销售的资格，标志着公司动车组制动产品已延伸至300~350km/h速度级，该进展将进一步丰富公司轨 道交通制动产品矩阵。 三、对公司经营及业绩影响 CRH380D型动车组闸片通过小批量试用，仅代表该产品有资格参与市场竞争，与市场订单取得或对业 绩贡献并不构成直接关系。该产品的市场销售情况与业绩贡献，视具体获得订单或合同执行情况而定。 公司新产品通过小批量试用，对公司市场拓展及未来经营业绩会产生积极的影响，但不会对公司当年经 营业绩构成重大影响。敬请投资者注意投资风险。 重要内容提示： ● CRH380D型动车组闸片通过小批量试用，仅代表该产品有资格参与市场竞争，与市场订单取得或对 业绩 ...

12月19日，日照市政府新闻办召开高质量完成"十四五"规划系列主题新闻发布会（第4场）——介绍"十 四五"时期日照市加快推进交通运输高质量发展情况。记者从会议上获悉，"十四五"以来，日照市交通 运输系统锚定"交通成为中国现代化的开路先锋"使命，以交通强国山东示范区建设为牵引，统筹推进铁 路、公路、港口、民航等领域协同发展，累计完成综合交通基础设施投资580亿元，织密织优综合立体 交通网，为全市经济社会高质量发展注入强劲动能。 立体交通网越织越密，通达能力显著提升 齐鲁晚报·齐鲁壹点 隋忠伟 智慧绿色港口建设走在前列。全球首个顺岸开放式全自动化集装箱码头建成并入选交通强国建设试点典 型经验，石臼港区南区打造国内领先的大宗干散货智慧绿色示范区，日照港（600017）荣获"亚太绿色 港口"称号，绿色低碳提升工程纳入交通运输部专项试点。直升机引航的创新应用、航道联合整治行动 以及集装箱发展扶持政策的实施，持续提升港口运营效率与服务质量。 服务民生福祉，交通发展更有温度 运输服务品质全面升级。城市公交网络不断优化，新开通、优化线路124条，推出定制公交、守时公交 等多元化服务，年均运营里程突破3527万公里。道路货运结 ...

元旦假期部分游客会以拼假形式出境游，其中，东南亚的短线游选择人数较多。 冰雪游热度不断攀升，元旦假期大兴机场不仅开通了飞往黑龙江、吉林、辽宁、新疆、内蒙古等的 33条航线，还拓展了多条出境冰雪游航线。 大兴机场航空业务部副总经理王强：我们大兴机场积极加密中俄航线网络，目前共有9家中俄航司 运营北京大兴往返莫斯科、伊尔库茨克、新西伯利亚、叶卡捷琳堡等9条航线，每周计划59个往返班 次，为旅客奔赴冰雪之旅提供丰富的出行选择。 央广网北京12月19日消息（记者郭淼）据中央广播电视总台中国之声《新闻和报纸摘要》报道， 2026年元旦假期首日火车票昨天（18日）开始发售。相关数据显示，元旦假期火车票、机票预订量显著 增长，北上赏雪、南下避寒，以及出境短线游热度较高。 2026年首个元旦3天假期出行人数明显增加。截至目前，2026年1月1日至3日入住广州、南宁、上 海、北京、哈尔滨等热门城市酒店预订量同比增长3倍以上。国内航线机票预订量已超106万张，同比增 长约45%；出入境航线机票预订量超过53万张，同比增长约15%。 在上海浦东国际机场2号航站楼，不少市民已趁着淡季低价，开启错峰的年末旅行。国内的热门航 线主要在广 ...