转自：草原云 新闻发布会现场。 5年来，内蒙古设施联通获得新进展：完成集二线贲红至二连段能力补强工程建设，内蒙古12个公路口 岸已全部通二级及以上公路；包头航空口岸、二连浩特航空口岸通过国家验收；呼和浩特盛乐国际机场 基本完工，正在开展单项工程验收工作，计划2025年12月底前完成民航华北局行业验收；"十四五"期 间，内蒙古累计到发中欧（亚）班列超1900列、同比增长98.9%，内蒙古共有9个城市开通了中欧班 列，常态化开行线路22条，通达中亚五国、蒙古、俄罗斯、白俄罗斯、伊朗等"一带一路"沿线国家,对 外开放通道更加畅通。 5年来，内蒙古贸易畅通迈上新台阶：中蒙二连浩特-扎门乌德经济合作区成功获批并加快发展，中蒙博 览会、向北开放经贸洽谈会等重点展会办会水平明显提升，对外影响力和投资促进作用进一步显现；综 合保税区、开发开放试验区等平台加快建设，中国（内蒙古）自由贸易试验区申建取得积极进展，为外 贸高质量发展提供了有力支撑；拓展与共建国家、地区在经贸、技术等方面的交流合作，"十四五"期 间，内蒙古对"一带一路"共建国家贸易额6074.7亿元，开放型经济格局加快构建。 5年来，内蒙古资金融通提供新动力：内蒙古 ...

Core Insights - Hainan is set to officially close its borders on December 18, marking a significant step towards establishing a new type of offshore international trade center, which aims to shift Chinese enterprises from being mere suppliers to service providers in global trade [3][4][5] Group 1: New Offshore Trade Model - The new offshore trade model allows Chinese companies to engage in global trade without passing through Chinese ports, enhancing their role in the global supply chain [3] - This model emphasizes remote control and management of trade processes, enabling companies to coordinate procurement, processing, and sales across multiple countries [3] Group 2: Importance of Hainan Free Trade Port - Hainan's free trade port will cover an area of 35,400 square kilometers, significantly larger than existing free trade zones in China, providing ample space for talent and enterprises [5] - The free trade port will offer greater openness compared to traditional free trade zones, with most goods exempt from tariffs and simplified trade regulations [7][20] Group 3: Competitive Advantages - Hainan's free trade port will implement a zero-tariff policy for over 70% of goods, compared to Shanghai's limited tariff exemptions, making it a more attractive location for offshore trade [7][19] - The port will also feature a simplified customs process, allowing goods to enter before customs declaration, enhancing operational efficiency [7] Group 4: Service Trade Growth - The global trade landscape has shifted, with intermediate goods now accounting for over 70% of trade, and service trade comprising 30% of total trade volume, indicating a need for high-quality service support in offshore trade [8][9] - Hainan's service trade is projected to grow over 20% in 2024, with significant increases in sectors like transportation, tourism, and digital trade [9] Group 5: Offshore RMB Settlement Center - Hainan aims to establish an offshore RMB settlement center, complementing Hong Kong's existing role, to facilitate domestic and international capital flow [11][12] - This center will enhance the internationalization of the RMB and attract foreign investment, contributing to Hainan's financial ecosystem [12][15] Group 6: Challenges and Opportunities - Despite its potential, Hainan faces challenges such as a lack of financial market openness and service infrastructure, which could hinder its ability to attract high-quality resources [14] - However, Hainan's strategic location and the government's support for establishing a financial settlement center present significant opportunities for growth [14][15] Group 7: Future Trade Rules - The evolving global trade rules emphasize "zero tariffs," "zero barriers," and "zero subsidies," which align with Hainan's goals for trade liberalization [17][18] - Hainan's free trade port is positioned to experiment with these principles, potentially serving as a model for broader national implementation [20][21]

Core Viewpoint - International Commercial Settlement Holdings Limited is focused on building a global multi-currency real-time clearing and settlement platform based on blockchain and distributed networks, aiming to enhance cross-border fund flow efficiency [1] Group 1: Company Overview - The company experienced a stock price decline of 6.15%, trading at 0.229 HKD per share with a transaction volume of 3.1714 million HKD as of 10:04 AM on August 18 [1] - The company targets countries along the "Belt and Road" initiative, serving approximately 4.4 billion people and a combined economy of 21 trillion USD, aiming to reshape the global clearing and settlement landscape [1] Group 2: Financial Performance - As of the 2024 annual report, the company reported total operating revenue of 172 million CNY and a net loss of 211 million CNY [2]

Core Viewpoint - International Business Settlement (IBS) has experienced significant stock price increases, outperforming the Hang Seng Index, while facing challenges in profitability and financial metrics [2][3]. Company Summary - IBS's stock price rose by 12.78% to HKD 0.203 per share, with a trading volume of 81.97 million shares and a turnover of HKD 16.72 million, showing a volatility of 26.67% [1]. - Over the past month, IBS's stock has surged by 260%, and year-to-date, it has increased by 104.55%, outperforming the Hang Seng Index by 24.14% [2]. - Financial results as of March 31, 2025, indicate total revenue of HKD 172 million, a year-on-year increase of 7.2%, but a net loss of HKD 211 million, a significant decline of 283.37% [2]. - The gross margin stands at -16.77%, and the debt-to-asset ratio is 89.04% [2]. Industry Summary - Currently, there are no institutional investment ratings for IBS [3]. - The average price-to-earnings (P/E) ratio for the real estate industry is 9.84, with IBS's P/E ratio at -15.99, ranking it 107th in the industry [3]. - Other companies in the sector have P/E ratios ranging from 0.94 to 3.27 [3]. Business Model and Strategy - IBS aims to become a leading global fintech company, leveraging distributed networks and blockchain technology to create a next-generation global settlement network [4]. - The company focuses on providing efficient, low-cost financial services for cross-border trade, particularly targeting countries along the Belt and Road Initiative [4]. - IBS's platform facilitates real-time, multi-currency settlements, connecting with central bank systems to enhance financial infrastructure across regions with a combined population of approximately 4.4 billion and an economic output of about USD 21 trillion [4].