12月28日上午，在"2025（第二届）科学家创新大会"期间，《能源、交通、信息与人文融合：数智化的力量》新书发布会隆重举行。 本次发布会由中国电工技术学会、国际院士科创中心、机械工业出版社、科学家创新大会组委会共同组织，标志着这部深度探讨数智化融合创新的重 要著作正式面向公众问世。 新书发布会现场 新书《能源、交通、信息与人文融合：数智化的力量》由机械工业出版社于2025年12月出版发行，由中国工程院院士陈清泉等专家学者共同撰写。该 书系统阐述了在数字经济与智能化浪潮中，能源、交通、信息三大基础设施如何与人文精神深度融合，揭示数智技术如何成为推动社会可持续发展的核心 力量。 《能源、交通、信息与人文融合：数智化的力量》陈清泉 等 著 发布会伊始，主持人以"融合是趋势，数智是工具，而人文是灵魂"为引，通过一段主题短片，带领现场观众深入感知该书的宏大视野与时代关切。随 后，机械工业出版社有限公司副总经理丁诚代表出版方致辞。他强调，该书的出版不仅是学术成果的凝结，更是应对全球能源转型、智慧交通建设、信息 融合发展等重大课题的系统思考，体现了出版机构在传播前沿科技、服务国家战略方面的使命担当。 在全场瞩目中，新书揭 ...

中新网北京12月28日电 (记者 孙自法)2025科学家创新大会12月28日在北京举行，大会以"赋能场景创 新，链接产业供需"为主题，全方位聚焦"场景-技术-产业"全链条协作机制，共同探讨如何以科技 之"能"赋场景之"新"、强产业之"链"，为实现国家现代化与应对人类共同挑战贡献更多务实方案。 家创新大会上，中国科学院院士匡廷云作主题报告。中新网记者 孙自法 摄 中国电气装备集团西安高压电器研究院总经理张文兵等行业领军人物也发表专题演讲，分享产业前沿实 践与成果。 2025科学 2025科学家创新大会上，中国工程院院士陈清泉团队发布《能源、交通、信息与人文融合：数智化的力 量》新书。中新网记者 孙自法 摄 "我们正身处一个被数字技术、人工智能、空间信息等深刻重塑的时代。"大会主席、中国科学院院士郭 华东致辞指出，科技发展已不仅是实验室的突破与论文里的公式，它必须走进千行百业的具体场景，解 决真实世界的复杂问题，创造切实的经济社会价值。 郭华东表示，"赋能场景创新"，意味着科技创新要以前瞻眼光洞察和定义未来场景；"链接产业供需"， 则强调科技创新链与产业应用链的无缝衔接与高效协同。这就要求广大科技工作者树立"场景 ...

Core Insights - The company forecasts a 14% year-on-year growth in core OTA revenue for Q3 2025, with total revenue expected to increase by 9% to 5.45 billion yuan [1][2] - The vacation business continues to face pressure, particularly due to a 25% year-on-year decline in flight volume from China to Thailand [2] Revenue Breakdown - **Accommodation**: Expected to grow by 14% year-on-year, driven by a 10-15% increase in room nights, with a steady rise in the share of three-star hotels and a slight increase in platform ADR [1] - **Transportation**: Anticipated to grow by 9% year-on-year, benefiting from a 3% increase in domestic passenger volume and a rapid growth in international ticket sales [1] - **Other Revenue**: Expected to increase by 34% year-on-year, driven by growth in hotel management and PMS revenue [1] Profitability and Guidance - The company maintains its full-year revenue and profit guidance for 2025, projecting a 15% increase in core OTA revenue and a Non-IFRS net profit of 3.3 billion yuan [2] - The company is focused on cost control and enhancing international business monetization [2] Valuation and Market Position - The company maintains a target price of 28 HKD, representing an upside potential of 28%, with current trading at 14x/12x 2025/2026 Non-IFRS P/E [2]

Group 1 - The core viewpoint of the article highlights the strong performance of Tongcheng Travel, with a notable stock price increase and significant revenue growth in the latest financial report [1][2][3] Group 2 - As of the mid-year report for 2025, Tongcheng Travel reported total revenue of 9.047 billion RMB and a net profit of 1.311 billion RMB [2] - The company's profit attributable to shareholders for the fiscal year 2025 increased by 57.86% year-on-year, with basic earnings per share of 0.58 RMB [2] - On August 19, the stock price of Tongcheng Travel rose by 4.98%, reaching 20.64 RMB per share, with a trading volume of 348 million RMB [1]

Core Points - Severe flooding disasters have occurred in Inner Mongolia, particularly in cities like Hohhot, Baotou, and Ulanqab, resulting in significant casualties and property damage [1] - The National Disaster Reduction Committee has activated a level four emergency response for disaster relief on August 7 [1] - The National Development and Reform Commission has allocated 80 million yuan (approximately 11.2 million USD) for emergency recovery efforts in Inner Mongolia, focusing on restoring damaged infrastructure such as water conservancy, transportation, and schools [1]

Investment Rating - The report assigns a "Buy" rating to the company, with an initial coverage date of July 8, 2025 [1][4]. Core Insights - The company is positioned as a leading player in the domestic OTA market, particularly benefiting from the growth in lower-tier markets and the overall tourism boom. It is backed by major shareholders Tencent and Trip.com, which provide significant advantages in customer acquisition and supply chain resources [4][6][9]. Summary by Sections Company Overview - The company, formed from the merger of Tongcheng and eLong, is a top-tier one-stop travel service platform in China, successfully ranking among the top three in the OTA industry [17]. Shareholding Structure - The company has a concentrated shareholding structure, with major shareholders Tencent and Trip.com holding 24.07% and 20.46% respectively, facilitating deep collaboration in business operations [18][21]. Business Breakdown - The core OTA business includes transportation and accommodation bookings, contributing approximately 50% and 30% of revenue respectively. The company is expanding into hotel management and vacation services, enhancing its competitive edge [23]. Financial Performance - The company has shown strong recovery post-pandemic, with revenues of RMB 11.896 billion in 2023 and projected growth to RMB 19.624 billion by 2025, reflecting a growth rate of 80.7% and 45.8% respectively [8][31]. Adjusted net profit is expected to reach RMB 27.07 billion in 2025 [6]. OTA Industry Insights - The online travel market in China is projected to exceed RMB 1 trillion in 2024, with a significant increase in online transaction rates, indicating a robust recovery and growth potential in the sector [39][46]. Competitive Landscape - The OTA market is characterized by a high concentration of major players, with Trip.com leading the market share. The competitive dynamics are stable, with companies leveraging unique strengths to capture different market segments [49][52]. Pricing Power - The pricing power of the company is influenced by the concentration of upstream resources, particularly in transportation and accommodation sectors, which affects commission rates and overall profitability [56][59].