公司近日发布公告称，2025年11月25日，华光源海国际物流集团股份有限公司收到政府补助资金 1,793.16万元。该补助为与收益相关的政府补助，占公司最近一个会计年度经审计净利润的102.26%。 公司根据《企业会计准则第16号—政府补助》进行相应会计处理，最终以审计机构年度审计确认结果为 准。 截至2025年11月26日收盘，华光源海（920351）报收于22.82元，较前一交易日下跌1.34%，最新总市值 为20.09亿元。该股当日开盘23.05元，最高23.25元，最低22.71元，成交额达1541.43万元，换手率为 1.9%。 最新公告列表 《获得政府补助公告》 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

每经AI快讯，五矿发展（SH 600058，收盘价：8.59元）11月24日晚间发布公告称，截至本公告披露 日，公司为全资子公司使用银行融资综合授信提供担保余额为5亿元人民币，为全资子公司使用关联方 五矿集团财务有限责任公司融资综合授信提供担保余额为15亿元人民币。 2025年1至6月份，五矿发展的营业收入构成为：贸易占比92.99%，物流服务占比6.36%，其他行业占比 0.65%。 每经头条（nbdtoutiao）——大鹏工业战略配售"肥"了自家人！认购价9元，上市首日涨到118元，实控 人和亲哥哥凭配售一天浮盈2492万元 （记者 曾健辉） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 截至发稿，五矿发展市值为92亿元。 ...

丨证券研究报告丨 行业研究丨行业周报丨运输 [Table_Title] 如何看待回落后的散运？ ——交运周专题 2025W47 报告要点 [Table_Summary] 近期，干散运标的股价在一波上涨后迅速回调，我们认为前期上涨主要 301 法案落地影响，而 近期回落主要受福建板块情绪降温所致。虽然短期股价下行，但由于所处行业景气修复上行， 明年供给温和有限的背景下，需求三大催化因素 1）西芒杜投产改变铁矿石海运结构，2）美联 储降息释放大宗商品需求，3）俄乌战后重建和雅下水电建设拉涨大宗散货需求，提供行业上行 空间，行业中公司盈利有望随之改善。而从估值角度，当前船台紧张，新船价格维持高位，二 手船价随市场景气反弹，重置成本对估值有较强支撑。 分析师及联系人 [Table_Author] SAC：S0490512020001 SAC：S0490520020001 SAC：S0490519060002 SAC：S0490520080027 SAC：S0490524120001 SFC：BQK468 SFC：BWN875 韩轶超 赵超 鲁斯嘉 张银晗 胡俊文 请阅读最后评级说明和重要声明 %% %% %% %% ...

11月9日，美国政府停摆已经持续了40天。这段时间可不短，打破了之前35天的记录，成为美国历史上 最长的政府停摆。而令人意外的是，就在这段时间，一场严重的空难刚刚发生。 四大航空公司和飞行员工会联合起来，公开表态支持共和党的立场。这种局面把本已复杂的两党政治对 抗搞得更加难以收场。 空难发生的背后，有着停摆带来的隐患。11月4日下午，在穆罕默德·阿里国际机场的跑道上，一架波音 货机正准备执行跨太平洋的货运任务。这架飞机已经服役了34年，机身显得有些陈旧，机内装载着10多 万升燃油。没想到，飞机刚起飞几分钟，便出现了问题。由于升力不足，飞机的左翼首先撞向了地面， 随后机身翻覆，瞬间爆炸。火势迅速蔓延，附近的仓库被大火吞噬，黑烟冲上了3000米的高空，甚至在 80公里外的居民区都能看到。 停摆还对国防、航天等领域造成了负面影响，相关项目因为拨款不足而不得不推迟，公司的业绩也受到 直接影响。更为严重的是，美国的信用可能会因此下调，借款成本上升，国债利率攀升，金融市场的波 动将会波及到整个经济。 综上所述，这场停摆没有任何赢家，各方都在这场政治斗争中付出了代价。即使中期选举结束，两党的 对立局面可能依旧难以化解，国家 ...

Company Overview - Huapengfei Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on November 15, 2000. The company was listed on August 21, 2012. Its main business includes IoT operation services, logistics services, and financial services [1]. - The revenue composition of Huapengfei is as follows: domestic comprehensive logistics services account for 71.14%, international logistics services 27.45%, and other services 1.41% [1]. Stock Performance - On November 21, Huapengfei's stock price increased by 2.73%, reaching 7.14 CNY per share, with a trading volume of 201 million CNY and a turnover rate of 6.14%. The total market capitalization is 4.013 billion CNY [1]. - Year-to-date, Huapengfei's stock price has risen by 32.22%. In the last five trading days, it increased by 5.31%, in the last 20 days by 5.93%, and in the last 60 days by 7.05% [1]. Financial Performance - For the period from January to September 2025, Huapengfei achieved an operating income of 307 million CNY, representing a year-on-year growth of 20.36%. However, the net profit attributable to the parent company was 5.038 million CNY, a decrease of 77.62% year-on-year [2]. - Since its A-share listing, Huapengfei has distributed a total of 40.8533 million CNY in dividends, with no dividends paid in the last three years [3]. Shareholder Information - As of September 30, Huapengfei had 39,200 shareholders, an increase of 3.70% from the previous period. The average number of circulating shares per shareholder is 12,044, a decrease of 3.57% from the previous period [2]. Industry Classification - Huapengfei belongs to the transportation and logistics sector, specifically in the intermediate products and consumer goods supply chain services. It is associated with concepts such as community group buying, small-cap stocks, cross-border e-commerce, express delivery, and military information technology [2].

Core Viewpoint - The company, 港仔机器人, has issued a profit warning indicating an expected increase in net losses for the upcoming interim period, primarily due to share-based payment expenses and losses from the sale of subsidiaries [1]. Financial Performance - The company anticipates a net loss attributable to shareholders of approximately HKD 59 million for the six months ending September 30, 2025, compared to a loss of about HKD 32.7 million for the same period in 2024 [1]. - The increase in losses is attributed to share-based payment expenses of approximately HKD 17.6 million and a net loss of about HKD 4.7 million from the sale of subsidiaries [1]. - After excluding the impact of share-based payments and subsidiary sales, the adjusted loss for the interim period is expected to be around HKD 36.7 million, a slight increase of approximately HKD 4 million compared to the previous year's adjusted loss of HKD 32.7 million [1]. Company Background - 港仔机器人集团控股有限公司 was established in Bermuda and listed in 1996, primarily engaged in international air and sea freight forwarding, logistics services, and trading of securities and commodities [1]. - The company has been expanding its financial services, including financing leasing in China since July 2015 and plans to develop its lending business in Hong Kong [1]. Stock Performance - The company has reported continuous losses since 2018, accumulating a total loss of HKD 740 million over seven years [2]. - The stock price has been on a downward trend since its second year of listing, reaching a record low of HKD 0.073 per share in September last year [2]. - Despite a brief surge in stock price to HKD 1.92 per share on June 9 this year, the upward momentum could not be sustained [2]. - As of November 20, the stock price has declined by 4.90%, trading at HKD 0.97 per share [3].

京东物流第三季度总收入同比增24%，较该行预期高3%。调整后净利润20亿元(人民币，下同)，基本符 合该行的预期。其中，内部收入同比增66%，剔除承接京东全职骑手外卖业务之外的影响后，内单收入 增长延续上半年稳健增长的趋势。外部一体化收入同比增13%，客户数及单客收入平稳提升。其他外部 收入同比增5%，毛利润率9.1%。 交银国际发布研报称，预计京东物流(02618)2025全年收入保持快速增长，调整后净利润维持中个位数 增长预期。预计2026年在外卖、达达并表加持下，收入维持快速增长态势，利润率有望通过规模提升及 协同效应的加大呈现提升趋势，并稳步推进海外布局，提升长期竞争力。该行微调收入及利润预测，维 持目标价18.50港元及买入评级。同时，该行预计2026年内外单延续稳健增长态势，海外布局稳步推 进，利润有望实现稳定增长。 ...

Core Insights - J&T Express reported significant growth in global package volume during the Double 11 shopping festival, with over 100 million packages processed on November 11, marking a 9% year-on-year increase [1] - The average daily package volume from November 1 to 12 reached 94.59 million, reflecting a 15% year-on-year growth, particularly strong in Southeast Asia and new markets with growth rates of 78% and 83% respectively [1] Group 1: Market Performance - The Southeast Asian market showed robust growth, with the Philippines experiencing a 55% increase in average daily package volume during Double 11 compared to regular days [2] - Vietnam saw explosive growth, with a 211% year-on-year increase in total package volume from November 1 to 11 [2] Group 2: Capacity Expansion - To meet the demands of the peak season, J&T Express implemented 18 capacity expansion and upgrade projects in Thailand, enhancing operations across 10 centers and 8 distribution points, resulting in an overall capacity increase of 80% [2] - The company deployed over 300 temporary trucks daily and arranged for more than 9,000 personnel at end-point locations during the peak season [2] Group 3: Support for SMEs - In China, J&T Express became a preferred logistics partner for major e-commerce platforms, achieving a 15% year-on-year increase in average daily package volume in the Zhangzhou Longhai area during Double 11 [3] - The company optimized fulfillment processes and innovated return handling mechanisms to enhance customer experience, particularly for small and medium-sized enterprises [3] Group 4: Regional Growth - J&T Express demonstrated strong growth potential in emerging markets, with over 1 million packages processed in Brazil from November 11 to 12 due to proactive capacity expansion [4] - In Egypt, collaboration with local e-commerce platforms like noon resulted in a 41% year-on-year increase in package volume from November 1 to 12 [4] - The company continues to invest in advanced technologies such as AI sorting and automated transfer centers to enhance global logistics capabilities [4]

Core Insights - J&T Express has achieved record-breaking parcel volumes during the year-end peak season, with a global parcel volume exceeding 100 million on November 11, marking a 9% year-on-year increase [1] - The company has demonstrated strong growth in Southeast Asia and new markets, with parcel volume growth rates of 78% and 83% respectively [1] Southeast Asia: Sustained High Growth - The Philippines experienced a 55% increase in average daily parcel volume during the Double Eleven period compared to regular days [3] - Vietnam saw an explosive growth of 211% in parcel volume from November 1 to November 11 [3] - J&T Express has implemented 18 capacity expansion and upgrade projects in Thailand, enhancing overall operational capacity by 80% [3] China: Differentiated Services for Steady Growth - J&T Express has become a preferred logistics partner for major e-commerce platforms in China, achieving a 15% year-on-year increase in average daily parcel volume in the Zhangzhou Longhai area during the Double Eleven peak season [5] - The company has upgraded 57 transit centers and over 1,000 end-point networks to ensure efficient logistics operations [5] - Over 1,000 unmanned delivery vehicles have been deployed in China to address last-mile delivery challenges [5] New Markets: Strengthening Global Presence - In Brazil, J&T Express surpassed one million parcels from November 11 to 12, showcasing strong growth momentum [7] - In Egypt, the company has integrated into the local e-commerce ecosystem, with parcel volume from noon increasing by 41% compared to the same period in 2024 [7] - J&T Express continues to invest in advanced technologies such as AI sorting and automated transfer centers to enhance global logistics capabilities [7]

Core Insights - J&T Express reported significant growth in global package volume during the Double Eleven shopping festival, with a record-breaking daily package volume exceeding 100 million on November 11, marking a 9% year-on-year increase [1] - From November 1 to December 12, the average daily package volume reached 94.59 million, reflecting a 15% year-on-year growth, particularly strong in Southeast Asia and new markets with growth rates of 78% and 83% respectively [1] Southeast Asia: Sustained High Growth - During the peak season, the Southeast Asian market showed robust activity, with the Philippines experiencing a 55% increase in average daily package volume during Double Eleven compared to regular days [2] - Vietnam saw explosive growth, with a 211% year-on-year increase in package volume from November 1 to 11 [2] - To support the peak season, J&T Express implemented 18 capacity expansion and upgrade projects in Thailand, enhancing overall operational capacity by 80% through the addition of five automated sorting systems [2] China: Differentiated Services for SMEs - In China, J&T Express became a preferred logistics partner for major e-commerce platforms by leveraging differentiated service strategies and enhancing network capabilities [3] - The average daily package volume in the Zhangzhou Longhai area increased by approximately 15% year-on-year during the Double Eleven peak season, effectively addressing the surge in orders [3] - J&T Express upgraded 57 transfer centers and over 1,000 end-point networks to ensure smooth and efficient logistics operations, deploying over 1,000 unmanned delivery vehicles to tackle last-mile delivery challenges [3] New Markets: Strengthening Global Presence - J&T Express demonstrated strong growth potential in emerging markets, with package volume in Brazil exceeding one million during November 11-12 due to proactive capacity expansion [4] - In Egypt, collaboration with local e-commerce platforms like noon resulted in a 41% year-on-year increase in package volume from November 1 to 12 [4] - The company continues to invest in advanced technologies such as AI sorting and automated transfer centers to enhance global logistics capabilities and support the growth of the global e-commerce economy [4]