证券日报网讯12月23日，普路通（002769）在互动平台回答投资者提问时表示，公司作为供应链领域的 优质整合者，以资金流和信息流作为金融和技术保障，围绕商流、物流和工作流环节为客户提供供应链 改进方案并协助其执行，包括供应链方案设计及优化、采购分销、库存管理、资金结算、通关物流以及 信息系统配套支持等诸多环节在内的一体化供应链解决方案。公司的供应链解决方案其中包括了跨境物 流服务。 ...

中国（黑龙江）自由贸易试验区黑河片区党工委委员、管委会副主任张其军介绍，黑河自贸片区现已成 功引入OZON、WB等俄罗斯头部电商平台，建设国欧OZON、FBP半托管仓、俄速达边境仓等新型仓储 节点；以黑河跨境运输物流园和月星中俄跨境物流枢纽等项目为牵动，发展保税物流、绿色物流、智慧 物流等业态；建设海关监管场所，在保税物流中心内建设"1210进口"查验线，在二公河园区建设跨境电 商出口海关监管场所。 （文章来源：经济日报） 为进一步提升跨境运输效率，打破地域限制，国欧边境仓创新采用"多仓联动"运营模式。通过与国内外 的跨境电商海外仓、边境仓、中转仓、前置仓进行深度的数据集成和高效的货物集运，实现了不同仓储 节点之间的无缝对接与协同作业。这一模式成功打通了面向共建"一带一路"国家的进出口双向货运物流 便捷通道，大幅缩短了货物周转时间，提升了整体物流效率。 作为中俄边境的重要口岸城市，黑河是共建"一带一路"北向通道的关键节点，在扩大向北开放中具有不 可替代的战略地位。党的二十届四中全会提出，扩大高水平对外开放，开创合作共赢新局面。"全会精 神让我们开拓国际市场的信心更足了。"黑河国欧物流有限公司人事负责人刘琳深有 ...

中新网郑州12月20日电 (陈贵洋)一列满载优质木薯淀粉的中老国际货运班列，自老挝万象南站出发，历 时5天顺利抵达郑州航空港经济综合实验区郑州国际陆港。 本趟班列途经云南、贵州、湖南等省份，全程运输高效顺畅。其成功抵达，不仅为中原及周边地区稳定 提供优质原材料，也为中部地区深化与东南亚经贸往来开辟了一条新的陆路物流通道。 为确保班列高效接驳，郑州国际陆港运营团队提前制定作业方案，全程动态跟踪，优化流程衔接。班列 抵港后，仅用4小时即完成全部货物的卸车与检验，展现出高效的专业运营能力和物流组织水平。 作为国家物流枢纽的重要组成部分，郑州国际陆港近年来持续拓展国际班列网络。此次中老回程班列的 成功接入，进一步巩固了其连接中部地区与东南亚的关键节点地位。 未来，郑州国际陆港将继续完善跨境物流服务体系，加快建设高效、便捷、安全的国际物流通道，为中 原地区深入参与共建"一带一路"提供有力支撑，助力中老经贸合作与区域经济融合发展。(完) 这是该国际陆港首次成功承接中老回程班列，标志着郑州作为国际物流枢纽，在服务共建"一带一路"方 面取得新突破。 ...

年终消费旺季，全球双11、黑五与圣诞季叠加，跨境物流迎来年度峰值考验。作为跨境物流核心服务 商，菜鸟以"国际网络+前沿科技"双引擎发力，通过千架次包机运力、全球仓网扩容及AI全链路赋能， 实现全球核心市场高效履约。 如果说全球网络是物流履约的"大动脉"，前沿科技就是保障高效运转的"智慧大脑"。今年旺季，菜鸟将 AI、自动化技术深度应用于物流全流程，破解大促履约难题。 "生成式AI为物流运营带来了革命性变化，不仅降低了智能化应用门槛，更提升了全链路响应效率。"熊 伟举例，面对各国税改带来的关务处理复杂性，菜鸟通过智慧安检、智能归类等技术，确保合规货品精 准通关，"AI图像识别实现毫秒级判图，安检效率大幅提升，智能合单算法同步优化配送时效与成本"。 菜鸟跨境物流总经理熊伟日前接受采访时表示："今年旺季市场热度、履约质量和卖家信心均超预期， 这既是中国供应链韧性的体现，也是菜鸟多年深耕全球物流基础设施与技术创新的集中显现。" 千架包机+仓网扩容筑牢履约根基 跨境物流的高效运转，离不开遍布全球的基础设施布局。面对旺季运力需求，菜鸟提前锁定核心资源， 构建起覆盖全球的物流骨干网。 "航空运输是国际物流的关键环节，菜鸟多 ...

南方财经21世纪经济报道记者李莹亮 近年来，不少海外消费者或许会发现，不仅自己购买的商品来自中国，物流服务商也和中国有关系，而 这其中就跑出了一只"狂飙的兔子"——极兔速递。从2015年成立至今，这只兔子用短短10年时间，跨越 山海阻隔，在13个国家搭建起贯通跨境的物流网络，走出了一条不寻常的全球化之路。 2020年，极兔做出了一个大胆决定，进入全球竞争最激烈的中国快递市场。极兔以补贴加盟商扩网的方 式，迅速扩大市场占有。借助下沉市场和直播电商的爆发带来的大量订单，极兔在国内实现了爆发式增 长。2022年，极兔中国境内包裹量突破120亿件，打破了"外来者难存活"的魔咒。 极兔的全球化之路并未止步东南亚。2022年，极兔将目光投向中东、拉美等新兴市场。然而这条路注定 不是坦途，2023年极兔仍在扩张进程中经历着严峻的考验。但天生就有"全球化基因"的极兔，深知"本 地化"是企业国际化布局成功的核心。2024年，极兔成功实现了全球整体盈利，成为其商业模式成熟的 标志性转折点。2024年财报显示，尽管中东、拉美等新市场仍然面临压力，但新市场全年处理包裹量达 2.81亿件，同比增长22.1%，收入和效率的提升使得亏损迅 ...

Core Insights - The report emphasizes that domestic demand is recovering ahead of external demand, with a focus on low base effects in 2026, making bottomed-out sectors worth attention [3] - It highlights that upstream sectors are recovering before downstream sectors, with significant demand elasticity expected in early 2026, particularly in bulk supply chains and dry bulk shipping [3] - The report notes that price increases are anticipated before volume growth, with a focus on dry bulk shipping, e-commerce logistics, and airlines benefiting from supply constraints and favorable oil exchange rates [3] Industry Overview - The transportation sector ranked 29th in the market as of December 10, 2025, reflecting significant pressure on fundamentals, with a -1% performance in the Shenwan primary transportation index [18][19] - The report identifies structural opportunities in logistics and shipping, despite the overall economic cycle affecting the sector [20] - It indicates that the transportation sector's performance is closely tied to economic fundamentals, with a notable correlation between ROE and economic cycles [23] Sub-industry Analysis - In logistics, domestic demand is stabilizing while external trade remains robust, with expectations of price increases due to anti-involution policies [11][20] - The airline sector is experiencing improvements in supply and demand, with a focus on capturing opportunities in private airlines and airport duty-free consumption recovery [11][20] - The shipping sector, particularly dry bulk shipping, is highlighted as a cost-effective opportunity for 2026, driven by supply and demand dynamics [11][20] Investment Strategy - The report suggests a strategy of seeking alpha within beta, focusing on sectors with low beta characteristics that are expected to turn around in 2026 [11][20] - It emphasizes the importance of identifying individual stocks within the transportation sector that can outperform the broader market, given the anticipated recovery in demand [11][20] - The report outlines a cautious but optimistic outlook for 2026, with a focus on sectors that have shown resilience and potential for recovery [11][20]

Core Insights - The event themed "New Service and New Supply" aims to promote the development of the service industry in Henan Province, showcasing innovative business models and successful case studies [1][3]. Group 1: Supply Chain Innovations - Mixue Ice City has established a new supply model for fresh tea drinks through "vertical integration + scale effect," resulting in low costs and high sales volume [1]. - Zhongdamen International Logistics Group has innovated a cross-border logistics model using "pre-clearance + full cargo charter," reducing port stay times and promoting the integration of logistics, trade, and data [1]. - Strength Diamond has pioneered an integrated model of "R&D + manufacturing + services + cultural tourism," effectively driving the entire value chain from raw diamonds to end consumer products [1]. Group 2: Service Industry Development - Henan Province has recognized 129 new service supply brand enterprises and 61 key projects, with 75 new enterprises added to the reserve, creating a robust service industry matrix [3]. - The 58 exemplary enterprises include 16 production service models that leverage digital transformation, 21 lifestyle service benchmarks enhancing consumer quality, and 21 pioneers in service-oriented manufacturing [3]. Group 3: Digital Transformation and Innovation - Henan Xiangyu Medical Equipment Co., Ltd. shared its achievements in the fields of rehabilitation medical layout and smart elderly care [4]. - The Henan Museum has developed over 2,000 cultural and creative products, creating jobs for 15,000 people, showcasing the potential of cultural innovation [6]. - The province aims to focus on key industries and weak links during the 14th Five-Year Plan, implementing a new service supply cultivation project to foster high-quality service enterprises [6]. Group 4: Case Studies of New Supply Models - Notable case studies include Mixue Ice City, which aims to create a global supply of affordable beverages, and Banu Hot Pot, which integrates product and service innovation in the restaurant industry [8]. - Other examples include Yuanfang Smart Logistics, which leads modernization in logistics through digital transformation, and Zhengzhou Sunshine Home Service, which enhances community services through a unique operational model [8].

Core Insights - The global cross-border logistics sector is experiencing a peak in transportation volume following the conclusion of the Black Friday sales season, with significant increases in shipping orders across key overseas markets [1][3] Group 1: Shipping Volume Growth - Cainiao's data indicates that shipping order volumes in Europe, North America, South America, the Middle East, and Southeast Asia have all achieved triple-digit percentage growth compared to average daily volumes [1] - In Europe, all 11 fast lanes of Cainiao saw a surge in shipping orders, with the UK maintaining a delivery time of five natural days during the sales period, leading in local delivery efficiency [3] - The Netherlands and Sweden experienced explosive growth in shipping volumes, leading among the European fast lanes [3] Group 2: Consumer Preferences and Market Trends - The surge in shipping demand is driven by the ongoing trend of domestic brands expanding overseas, particularly during the Black Friday sales period [3] - Different regional markets displayed distinct consumer preferences, with Southeast Asian consumers favoring blind box toys, 3C electronic accessories, and luggage products, while the African market preferred domestic gaming hardware and home goods [3] - In Europe, the Christmas season has boosted sales of smart home products, holiday decorations, and daily consumer goods [3] Group 3: Market Expansion Initiatives - Cainiao has expanded into emerging markets by launching a cross-border small package service to Africa, currently covering eight countries, with plans to extend to South Africa and Egypt by the end of December [3] - This expansion aims to tap into the top five countries in Africa by e-commerce penetration, providing new growth opportunities for merchants [3]

Core Insights - The logistics real estate and express delivery sectors are experiencing a profitability pattern characterized by "strong performance from leading companies and pressure on smaller firms," with industry acceleration towards high-value creation driven by network integration and capital operations [2] Group 1: Logistics Real Estate - The core trend in logistics real estate focuses on optimizing cost structures and adjusting business models, with Wanwei Logistics reporting total revenue of 3.18 billion yuan, a year-on-year increase of 7.4%, by transitioning to a "heavy asset + light asset" model [2] - Baowang Logistics reported total revenue of 1.38 billion yuan, a year-on-year decrease of 3.91%, with net profit declining by 57.71% due to long cultivation periods for newly opened parks and investments in smart park renovations and photovoltaic projects [2] Group 2: Express Delivery Sector - The express delivery industry is seeing improved profitability driven by simultaneous increases in volume and price, with JD Logistics achieving revenue of 55.084 billion yuan, a year-on-year increase of 24.1%, despite a 15% decline in net profit due to an increase in full-time delivery personnel [2] - SF Holding reported total operating revenue of 225.26 billion yuan, a year-on-year increase of 8.89%, and a net profit of 8.31 billion yuan, up 13.69%, indicating simultaneous growth in business scale and profitability [3] Group 3: Cold Chain and Cross-Border Logistics - In the cold chain sector, Hailong Cold Chain reported total revenue of 2.43 billion yuan, a year-on-year increase of 15.20%, with a net profit margin of 12.26%, while Iceberg Cold Chain saw a revenue decline of 2.73% [3] - In cross-border logistics, Jiacheng International reported total revenue of 0.95 billion yuan, a year-on-year decrease of 3.40%, but maintained a high net profit margin of 15.86% [3] Group 4: Investment and M&A Activities - Six investment events were recorded during the reporting period, with leading companies driving industry advancement through technology cooperation, capacity implementation, and capital mergers and acquisitions [3] - Notable investment activities include Zhongtong Express acquiring land for 381 million yuan to build a smart operation center, and JD Logistics launching multiple projects to enhance its logistics network [4][5] Group 5: Technological Innovation - Companies are deepening the integration of technology and logistics applications to enhance operational efficiency, with ProLogis launching an automated warehouse equipped with smart sorting robots and AGV systems [4] - JD Logistics and JD Industrial Development are collaborating on a project to integrate core resources such as warehousing and distribution, improving order processing efficiency by 50% [5][6] Group 6: Capital Operations - Capital operations and asset transactions are becoming crucial for optimizing resource allocation in the logistics industry, with notable transactions including Tianjin Port Group's plan to transfer 60% of China Railway Storage and Transportation's equity [8] - Red Star Cold Chain has submitted a listing application to the Hong Kong Stock Exchange, aiming to raise funds for expanding its cold chain network and upgrading temperature control technology [9]

Core Insights - JD Logistics reported a total revenue of 55.1 billion RMB for Q3 2025, representing a year-on-year growth of 24.1%, with an adjusted net profit of 2.02 billion RMB [1] Business Performance - Integrated supply chain revenue grew by 45.8% year-on-year, reaching 30.1 billion RMB, with external integrated supply chain client revenue at 8.9 billion RMB, up 13.5% [1] - The company continues to see growth in customer numbers and average revenue per customer across multiple industries, particularly in the home appliance sector, by enhancing end-to-end supply chain coverage and leveraging digital capabilities [1] International Expansion - The company is actively expanding its overseas business, replicating its warehousing and integrated supply chain capabilities in international markets, providing comprehensive solutions for Chinese brands and cross-border e-commerce platforms [2] - A notable collaboration with a well-known electric vehicle brand has extended operations to the Middle East, establishing a parts warehouse in Dubai, which supports after-sales service networks in the region [2] Logistics Network Development - As of September 30, 2025, JD Logistics' warehousing network covers nearly all counties in China, with over 1,600 company-operated warehouses and more than 2,000 third-party operated cloud warehouses, totaling over 34 million square meters of managed space [3] - The company has acquired 100% of a subsidiary engaged in local instant delivery services for approximately 270 million USD, which is expected to enhance its service offerings and improve last-mile delivery capabilities [3]