转自：扬子晚报 2月23日，春节假期进入最后一天，长三角铁路迎来返程客流最高峰，当日预计发送旅客310万人次，铁 路部门计划加开旅客列车605列，全力保障假期旅客返程出行需要。 通讯员 许文峰 扬子晚报/紫牛新闻记者 笪越 从12306预售情况来看，节后川渝、云贵、陕西、河南、湖南等前往长三角主要城市的长途客流，以及 合肥、阜阳、徐州、蚌埠等地区至上海、杭州、宁波等城市的短途客流比较集中。铁路部门加大重点方 向和高峰时段运力投放，计划加开直通旅客列车389列、管内旅客列车216列，组织355列动车组列车重 联运行。加开的列车中夜间高铁列车达323列，其中阜阳开往上海、杭州、温州等方向20列，徐州开往 上海、南京等方向19列，合肥开往杭州、上海、南京等方向31列，蚌埠开往上海、温州等方向8列。 铁路部门持续丰富便民利民惠民服务举措，让旅客出行体验更美好。合肥南、徐州东、蚌埠南、淮安 东、淮北、连云港、扬州等火车站动态调整安检通道，高峰期通过开足安检仪、采用"双手检"等方式， 有效缩短旅客进站时间；同时在进站口、电梯口、站台等关键点位加强人员值守，及时提供问询解答、 安全疏导等服务。上海、杭州、南京、苏州等地区火 ...

日前，国家发改委印发《关于推进城际铁路健康可持续发展的意见》。 据悉，这是国家首次针对城际铁路出台专项文件，通过划定建设"红线"、收紧审批标准，规范城际铁路规划建设。 《意见》强调，落实基础设施建设要适度超前、不能过度超前的要求，着眼推动城市群高质量一体化发展，从加强规划指导、有序推进建设、创新运营模 式、建立可持续发展机制等方面作出具体部署，具有很强的指导性和操作性，是指导城际铁路健康可持续发展的重要依据。 国家发展改革委出台文件 明确城际铁路建设"不能过度超前" 城际铁路是城市群节点城市间的骨干旅客运输方式。目前，京津冀、长三角、粤港澳大湾区、成渝双城经济圈"四大城市群"城际铁路骨干网络加快形成， 总里程接近1800公里，运营效益稳步向好，城市群内主要城市间基本实现1至2小时通达。 《意见》明确了城际铁路功能定位，指出城际铁路主要连接城市群内中心城市及城区常住人口50万以上的大中城市，串联沿线重要客流集散地、人口密集 区，采用高密度、小编组的灵活运输组织模式，重点满足1至2小时通勤、休闲、商务等中短途旅客出行需求。 《意见》要求，新建城际铁路近期双向客流密度不低于1500万人次/年，设计速度一般为每小时1 ...

Performance Summary - Tourlite Fund, LP returned 0.2% for Q4 2025 and 2.8% for the full year, with an annualized return of 8.1% since inception, underperforming the S&P 500 (13.3%) and Russell 2000 (6.5%) [2] - The fund's long positions struggled due to poor stock selection, while the short book generated a positive contribution of 0.9% [3][4] Market Outlook - The outlook for 2026 is optimistic, anticipating strong economic growth and declining inflation, supported by pro-growth policies ahead of midterm elections [5] - A rotation in market performance has been observed, with the Russell 2000 outperforming the S&P 500 and sectors like industrials and materials leading [6] Risks and Opportunities - There are concerns about potential inflationary pressures re-emerging later in the year due to aggressive monetary policy and fiscal stimulus [7] - If inflation pressures return, it may create opportunities for short sellers as market dynamics shift [8] Portfolio Composition - The average net beta-adjusted exposure was 20%, with gross exposure ranging from approximately 175% to 260% [9] - Sector concentration included consumer (~20%), industrials (~50%), and technology (~25%), with a strategy of being short consumer and long industrials [10] Notable Positions - FTAI Aviation is expected to reach $250 per share, with potential for $1 billion EBITDA from a new initiative [13] - Montana Aerospace has been initiated as a new position, trading at a significant discount with strong growth potential in the aerospace sector [18][19] Short Positions - The fund has established short positions in companies with unfavorable supply-demand dynamics and high valuations, anticipating declines in volume and margins [23][24] - Specific shorts include a consumer company expected to face revenue and margin disappointments due to transitory conditions [27]

Core Insights - Telos Advisers has appointed Stephen Gardner as a Strategic Advisory Board Member, enhancing its team of former transportation executives to provide strategic advisory for complex infrastructure projects [1][3] Company Overview - Telos Advisers is a Newark, New Jersey-based advisory firm specializing in complex transportation and infrastructure projects, founded by former transportation executives [7] - The firm offers expertise in infrastructure planning, development, finance, compliance, and public procurement, assisting clients in navigating the complexities of major capital projects [7] Stephen Gardner's Background - Gardner previously served as CEO of Amtrak, overseeing the largest intercity passenger rail operator in the U.S. and leading significant system improvements and ridership growth [2][4] - He has over 15 years of experience in the national passenger railroad sector, beginning his career with Amtrak in 2009 after nearly a decade working on surface transportation policy on Capitol Hill [4] Strategic Focus Areas - At Telos Advisers, Gardner will focus on rail and transit policy, funding strategy, customer experience and service planning, safety, and network development [5]

Group 1 - The total cross-regional personnel flow in Guangxi reached 20.36 million during the New Year holiday, marking a record high for the same period [1] - The total passenger volume for the entire region's transportation was 3.81 million, with road transport showing a daily average increase of 11.88% year-on-year [1] - Railway transport saw a significant increase in demand, with a total passenger volume of 1.49 million, reflecting a year-on-year increase of 57.96% [1] Group 2 - The highway traffic volume reached 7.31 million, with small passenger vehicles accounting for 82.56% of the total, and 1.33 million of these being new energy vehicles [2] - The rail transit system operated 5,769 trains, achieving a passenger volume of 4.50 million, with a peak daily passenger volume of 1.60 million on January 1 [2] - The civil aviation sector recorded a total passenger throughput of 186,000, with a year-on-year increase of 22.29% [1]

Core Insights - Alstom has signed a contract with the Railway Transport Regulatory Agency in Mexico for the supply of 47 DMU passenger trains, valued at approximately 20.2 billion Mexican pesos (around 920 million euros) [1][2][11] - The project aims to enhance passenger rail mobility in Mexico, connecting key regions and is part of the National Development Plan 2025-2030 [1][3] - Alstom emphasizes local manufacturing, with 76.6% of the train content produced in Mexico, which supports the local railway industry and job creation [4][16] Contract Details - The contract includes not only the supply of trains but also comprehensive maintenance for five years, fitting out maintenance depots, inspection and refueling stations, and technical training [2][12] - The trains will be manufactured at Alstom's Ciudad Sahagún plant, which has over 70 years of manufacturing experience and strategic connectivity for logistics [17][19] Train Specifications - The Adessia Stream trains will operate at speeds of up to 165 km/h, with configurations allowing for up to 600 passengers on short-haul services [5][6] - The design of the trains reflects Mexican cultural identity, incorporating elements inspired by local heritage and aiming for modernity and innovation [7][8][10] Commitment to Sustainability - Alstom's HealthHub predictive system will be part of the service, which has already reduced energy use by 20% since 2014 [15] - The project is positioned as a long-term contribution to sustainable mobility and the development of the Mexican railway sector [4][19]

Core Viewpoint - The signing of the strategic cooperation framework agreement between Kunming University and the Mohan-Deng Economic Cooperation Zone aims to enhance regional development and support the construction of the Mohan International Port City, aligning with national strategies and the "Four Good" construction of the China-Laos Railway [1] Group 1: Strategic Cooperation - The cooperation will focus on think tank cultivation, talent development, platform construction, and research collaboration, establishing a long-term and comprehensive partnership [2] - A think tank cultivation plan will provide precise decision-making consultation and technical support on key issues such as cross-border economy and livelihood development [2] - A talent development plan will establish training bases and promote practical training for international talents, contributing to the cultivation of practical talents [2] Group 2: Report Release - The "China-Laos Railway Development Report (2025)" was released concurrently, aiming to provide systematic intellectual support for high-quality development and regional cooperation [2] - The report systematically reviews the institutional innovation achievements since the operation of the China-Laos Railway and constructs a scientific development index for the railway [3] - The China-Laos Railway Development Index focuses on six areas: railway construction, trade openness, port economy, digital economy, rural revitalization, and tourism industry, serving as the first systematic evaluation index for the railway [3] Group 3: Recommendations and Impact - The report highlights the significant improvement in cross-border logistics and supply chain integration, promoting coordinated development in trade investment, digital economy, green development, and cultural exchange [3] - It suggests comprehensive policies to optimize trade investment structure, promote cultural and tourism integration, enhance cultural exchanges, and drive technological empowerment for future development [3]

Core Insights - The European Investment Bank (EIB Global) and the African Development Bank (AfDB) have established a joint financing arrangement of $275 million for upgrading Mauritania's main railway corridor [1][2] - The financing package consists of a $150 million loan from AfDB and $125 million from EIB Global, with the latter guaranteed by the European Union [2] - The project aims to enhance the transport corridor operated by Société Nationale Industrielle et Minière (SNIM), which is crucial for Mauritania's economic development and export capacity [2][3] Company and Industry Summary - SNIM, the largest employer in Mauritania, will manage the implementation of the railway upgrade project, which includes rehabilitating existing infrastructure and constructing 42 kilometers of new track [4] - The initiative is expected to improve railway capacity, reduce fuel consumption, and enhance operational safety and reliability, thereby facilitating increased mineral exports and job creation [5] - The project aligns with the Global Gateway strategy of the European Union, showcasing collaboration between European and African institutions to support infrastructure development [3][6]

Core Points - Siemens Mobility has secured a contract with Chile's national railway operator EFE Trenes de Chile for its first European Train Control System Level 2 (ETCS L2) project in the country [1] - The project involves the deployment of advanced signalling systems along 87km of railway, covering the Tren Alameda-Melipilla and Tren Santiago-Batuco routes [1] Engineering and Maintenance - Siemens Mobility will handle engineering, supply, installation, and commissioning of the systems over five years, followed by a ten-year maintenance agreement [2] - The ETCS Level 2 signalling systems will operate on the DS3 platform, designed for Safety Integrity Level 4 (SIL4) applications [2] Technology Introduction - This initiative marks the introduction of Siemens' Signaling X platform to Latin America, integrating interlockings, signalling, and control systems within a centralized virtual data center [3] - Signaling X demonstrates that rail software can function globally on commercial off-the-shelf hardware, aiming to simplify infrastructure and reduce operational complexity [3] Infrastructure and Communication - The new digital signalling infrastructure includes interlockings, wayside equipment, traffic control centres, and onboard systems for 32 trains [4] - Communications will utilize 4G-LTE technology, with an option for future upgrades to 5G, which reduces the number of required interlocking systems and simplifies maintenance [4] Strategic Vision - Siemens Mobility's rail infrastructure CEO highlighted the significance of this project in Latin America, emphasizing the introduction of cutting-edge technology and setting new standards for railway operations and efficiency [5] - The company plans to establish a regional software maintenance Centre of Competence to support future projects across the region [5] Regional Success - This contract follows Siemens Mobility's recent success in Brazil, where it signed the largest ETCS Level 2 contract in Latin America [6] - The company has previously delivered automated metro and digitalization projects in various Latin American countries, including Mexico, Dominican Republic, Peru, Ecuador, Colombia, Brazil, and Argentina [6] - Siemens Mobility recently opened a £6m ($6.9m) multi-functional centre in Northampton to support modifications and upgrades for passenger trains across the UK [6]

Group 1 - The article discusses the process of obtaining electronic invoices for train tickets purchased through various means, including online and at ticket counters [5][9][14] - It outlines the steps for passengers and purchasers to verify their identities and request invoices, emphasizing the importance of using valid identification [8][9][10] - The article provides specific instructions for both online and offline ticket purchases, detailing the necessary steps to complete the invoice request process [9][14] Group 2 - The article mentions a recent announcement regarding the VAT policy for second-hand car sales, indicating a reduced VAT rate of 0.5% for eligible transactions [14] - It defines second-hand cars in the context of the policy and specifies that the policy will remain in effect until December 31, 2027 [14] - The article also addresses the applicability of tax relief policies for small-scale taxpayers transitioning to general taxpayers, clarifying that certain conditions must be met to retain benefits [19]