10月13日，成达万高铁与成渝中线高铁乐至联络线的控制性工程——佛星二号隧道顺利贯通，标志着乐至联络线 建设取得重要进展。未来，两条设计时速达350公里的高铁将在此交会，乐至由此迈入"双高铁"时代。 这一突破呼应了人们对"速度"的期盼——既是交通运行的疾速提升，也是经济前行的强劲步伐。2024年乐至县地 区生产总值较2020年增长了26.4%，年均增速达到6%。 当前，乐至全县上下正以决战姿态全力以赴拼经济搞建设，积极抓项目促投资，持续深化国资国企改革，多措并 举促消费、扩内需，坚决完成今年各项目标任务，确保"十四五"圆满收官，为"十五五"开好局起好步奠定坚实基 础。 立柱架梁 重点产业成形成势 □田林 （图片由乐至县委宣传部提供） 初冬时节，上海韵达（乐至）川渝转运中心一派繁忙景象：智能化交叉带高速运转，六面扫码设备精准识别，一 件件包裹经过传送带有序奔向各自的目的地。 这座于2025年4月正式投运的大型智能转运中心，刚经历了首个"双11"购物节的"洪峰"考验。"其日处理能力突破 500万件。"据上海韵达（乐至）川渝转运中心党委书记张传兵介绍，单条分拣线每小时处理量达2500件，包裹从 分拣完成到装车发运仅 ...

Summary of the Conference Call for SITC International Holdings Industry Overview - The shipping industry in the Asia-Pacific region is experiencing strong demand, particularly in Chinese exports and Southeast Asia, with robust performance in the East India route and double-digit growth in Japanese imports. However, Chinese imports are relatively weak, linked to domestic economic conditions [2][3][4]. Key Points and Arguments - **Quarterly Performance**: In Q3 2025, SITC reported a 7.8% year-on-year increase in cargo volume, despite the traditional seasonal slowdown. The demand surge began in late August, indicating strong regional demand [3][4]. - **Future Outlook**: Cargo volume and freight rates are expected to rise in Q4, aligning with the traditional peak season. However, price trends for next year face uncertainties due to supply-demand dynamics [4][11]. - **Cost Structure**: The increase in the proportion of chartered vessels has led to a rise in per-container costs, although falling oil prices have partially offset this impact. Overall, cost changes remain manageable, maintaining a competitive cost advantage [7][8]. - **Fleet Strategy**: SITC operates nearly 120 vessels, with a growing proportion of chartered ships. The average remaining lease term is 6 months, reflecting a conservative approach. The company has sold three owned vessels and plans to sell more older ships while cautiously expanding new routes, particularly in Southeast Asia [6][13]. - **Market Dynamics**: The potential resumption of operations in the Red Sea due to peace talks could alter supply-demand dynamics, potentially leading to a situation where demand exceeds supply, impacting freight rates [10][12]. - **Strategic Partnerships**: SITC has formed a joint venture with Hisense in Thailand to enhance supply chain management and logistics services, aiming to provide tailored solutions for third parties [20][21]. Additional Important Insights - **Differentiated Operations**: The company is adopting a differentiated operational strategy for the Indian route, focusing on efficiency and service quality while gradually establishing self-operated routes [8][9][17]. - **Cash Reserves**: SITC has accumulated significant cash reserves, allowing for strategic flexibility amid changing industry alliances and uncertainties [12][13]. - **Regional Growth**: The company is focusing on expanding its presence in the Indian market, which has substantial import demand due to its consumption-driven economy [16][17]. - **Logistics Development**: SITC emphasizes the importance of land logistics, planning to invest more resources in this area to complement its maritime operations [21]. Conclusion SITC International Holdings is navigating a complex shipping landscape characterized by strong regional demand, strategic fleet management, and a focus on differentiated services. The company is poised for growth while maintaining a cautious approach to future uncertainties in the market.

Financial Data and Key Metrics Changes - FedEx achieved structural cost reduction targets of $1.8 billion in FY24 and $2.2 billion in FY25, reaching an overall target of $4 billion over the FY23 base [14] - The company returned approximately $4.3 billion back to stockholders in FY25 [14] Business Line Data and Key Metrics Changes - FY25 marked the first year operating as One FedEx, indicating a unified approach across the organization [14] Market Data and Key Metrics Changes - No specific market data or key metrics changes were provided in the meeting Company Strategy and Development Direction and Industry Competition - FedEx is focused on vehicle electrification, sustainable energy for facilities, and sustainable aviation fuel for aircraft to achieve carbon neutrality [18] - The company is committed to supporting the low-carbon transition of the broader transportation and logistics industry [18] Management's Comments on Operating Environment and Future Outlook - The CEO expressed pride in the team's response to a rapidly evolving market and emphasized the commitment to exceeding customer expectations and expanding into new markets [14] - The legacy of the company's founder was highlighted, emphasizing the long-term vision and commitment to excellence [13] Other Important Information - FedEx secured over 3 million gallons of blended sustainable aviation fuel, marking the largest SAF purchase executed by a U.S. cargo airline at LAX as of May 2025 [18] Q&A Session Summary Question: What has been done to improve emission reduction of FedEx aircraft since the 2024 annual meeting? - FedEx is implementing comprehensive long-term actions and interim goals for carbon neutrality, focusing on vehicle electrification, sustainable energy, and sustainable aviation fuel [18] Question: What new aircraft will FedEx take delivery of between now and the 2026 annual meeting? - Information regarding planned future aircraft deliveries can be found in the stat book on the Investor Relations website [19]

Group 1 - J&T Express Malaysia has partnered with TikTok Shop to offer same-day delivery for the iPhone 17 series in Kuala Lumpur and Petaling Jaya [2][4] - Customers who order the iPhone 17, iPhone 17 Air, or iPhone 17 Pro through authorized Apple stores on TikTok Shop before September 16, 2025, will receive their devices on the official release date of September 19 [2] - The collaboration aims to enhance customer experience by providing innovative and reliable logistics solutions, aligning with the company's mission to connect people and businesses [4] Group 2 - J&T Express Malaysia plans to explore more timely delivery solutions for high-demand products based on consumer needs in the future [4]

Core Viewpoint - The recent riots in Indonesia, triggered by the death of a motorcycle taxi driver due to police actions, have raised concerns about safety and stability in the country, particularly for Chinese businesses and expatriates [3][4][5]. Group 1: Current Situation and Impact on Businesses - The riots have led to a temporary shutdown of TikTok live streaming and increased military presence in certain areas, but many businesses, especially in the PIK area, continue to operate normally despite reduced foot traffic [4][5][6]. - Some Chinese expatriates have chosen to leave Indonesia, with flight prices skyrocketing due to demand, while others remain cautiously optimistic about the long-term business environment [6][5]. - The unrest has raised questions about the potential outflow of Chinese companies from Indonesia, but experts believe that core industries like manufacturing will remain largely unaffected [6][7]. Group 2: Opportunities in the Indonesian Market - Indonesia, as the world's 15th largest country and 4th most populous, presents significant market opportunities across various sectors, including energy, automotive, and consumer goods [7][9]. - Chinese companies, such as Qingshan Holding, have made substantial investments in Indonesia, particularly in the nickel supply chain, which is crucial for electric vehicle batteries [9][10]. - The presence of Chinese enterprises has contributed to local employment and economic development, helping to alleviate some social tensions related to high unemployment rates [10][11]. Group 3: Economic and Social Context - Indonesia faces significant challenges, including a high level of income inequality, with a large portion of the population living in poverty despite the country's rich natural resources [15][16]. - The government has implemented various policies to improve the business environment, such as easing foreign investment restrictions and promoting sectors like renewable energy and digital healthcare [11][19]. - However, local protectionism and bureaucratic hurdles remain significant barriers for foreign businesses, particularly in retail and agriculture [19][20].

Group 1 - The strategic cooperation agreement between Jinan Public Transport Group and Shandong SF Express marks the launch of the first logistics distribution center in Jinan, based on a public transport station [1] - The collaboration aims to integrate "public transport capacity + logistics network" in the Lixia District of Jinan, leveraging the complementary advantages of extensive public transport coverage and specialized logistics services [4] - The partnership is guided by the principles of resource sharing, complementary advantages, innovative collaboration, and mutual development, aiming to create a comprehensive "passenger-cargo-mail" integration system [5] Group 2 - The cooperation aligns with the "14th Five-Year Plan" for modern comprehensive transportation system development and Shandong Province's "Transportation Power" strategy [5] - Future plans include optimizing station resource allocation, improving facility utilization, enhancing the delivery network, and expanding service coverage [5] - The "public transport + logistics" model is expected to activate existing public resources, with plans to replicate the standardized approach in other cities with mature public transport networks in western Shandong [5]

Core Viewpoint - Amazon and Mitsubishi Estate announced the establishment of a new logistics distribution center in Nagoya, Japan, set to open in August this year, which will be Amazon's largest logistics center in the western Japan region [1] Company Summary - Amazon is expanding its logistics capabilities in Japan by opening a new facility in Nagoya [1] - The new logistics center will enhance Amazon's distribution network in western Japan, indicating a strategic move to improve operational efficiency and service delivery [1] Industry Summary - The establishment of the new logistics center reflects the growing demand for efficient logistics solutions in the e-commerce sector in Japan [1] - This move may signify increased competition in the logistics and e-commerce industry within the region, as companies strive to meet consumer demands [1]

Core Insights - Amazon is launching a series of logistics network upgrades in Europe, including same-day delivery in 20 additional regions over the next year [1] - The expansion will cover multiple cities in countries such as Germany, France, and Italy [1] - The company is continuously investing in delivery station technology innovations, incorporating robotics and artificial intelligence to enhance delivery speed and customer experience [1]

Group 1 - The core viewpoint highlights the rapid development and transformation of the Kangqiao area in Hangzhou, focusing on the integration of modern industry and urban construction, with significant projects underway such as the Grand Canal Museum and the Grand Canal Future Art and Technology Center [1] - In recent years, Kangqiao has established over 400,000 square meters of industrial space, attracting 303 enterprises in the first four months of this year, including two projects worth over 100 million yuan [1][3] - The area is leveraging innovative招商模式 (investment attraction models) to stimulate new growth momentum, with a focus on high-end residential and commercial developments [1] Group 2 - A new quasi-unicorn enterprise focusing on "AI + big data + IoT" has recently settled in Kangqiao, completing its registration in just seven days, setting a new record for the district [2] - The success of this high-tech company is attributed to the street's comprehensive招商网络 (investment attraction network) and full-cycle support mechanisms, which address the needs of enterprises for regional headquarters [2] - Kangqiao has implemented a "full lifecycle" enterprise service system, providing tailored support from project negotiation to business registration, and has resolved over 120 practical issues for enterprises this year [2] Group 3 - A large logistics company has been attracted to Kangqiao through personal connections, revitalizing a previously idle 6,000 square meter factory [3] - The logistics company, which provides delivery services for major supermarkets, is expected to contribute over one million yuan in annual taxes, becoming a significant tax source for the local economy [3] - Kangqiao is focusing on key industries such as smart manufacturing, new energy materials, health industry, digital economy, and smart cultural creativity, actively promoting a "chain + cluster" development model [3]