在海外轮胎集中涨价的背景下，布局海外产能的轮胎企业有望充分受益；国内轮胎行业洗牌进行中，长期看好国内龙头向上渗透，有望迈向全球第二梯队。重点推荐拥有海外产能布局的国内龙头玲珑轮胎、赛轮轮胎，建议关注三角轮胎。

Landing gears are one of the critical sub-systems of an aircraft. It supports the aircraft on ground during landing, take-off, and taxing operations. Globally, every nation is strengthening its aerial capabilities, by purchasing aircraft for various military missions. In some nations, part of thei r fleet includes old aircraft, which are being replaced by newer generation aircraft with advanced features. For instance, in January 2019, Switzerland received five bids to replace its aging fighter fleet, from Airbus, Dassault, Saab, Boeing, and Lockheed Martin Corporation. Switzerland’s fleet of Boeing McDonnell Douglas F/A-18C and D Hornets and Northrop F-5 Tigers are expected to retire in the near future. Orders are expected to be placed in 2020, as the country is planning to operate the new aircraft by 2025. Moreover, Singapore is planning to replace its aging F-16 fighter jets with the advanced F-35 aircraft in the near future.

通过分析沿江口门船闸的特点和分散调度模式存在的问题，大胆创新尝试集控调度运行模式，有效地解决了调度中的不足，大大地提高了口门船闸调度的效率。

压载水管理公约已于2019年1月22日对中国生效，生效后中国将按照公约要求开展关于船舶压载水管理符合性方面的PSC检查，这必将带来缺陷数量和滞留数量的增加。介绍东京备忘录关于压载水管理公约的PSC检查情况，对缺陷进行统计、分类和分析，最后针对航运公司和船舶如何确保压载水管理符合公约要求提出相关建议。

对已生效的压载水公约的内容框架进行简单介绍，重点结合公约内容对压载水公约港口国监督导则进行解读，从适用范围、港口国监督检查程序、违反和控制等方面进行介绍，并列举可能导致船舶滞留的缺陷，期许为航运各方有效实施并履行压载水公约提供参考。

军工MLCC 上市企业商业模式为自产自销+代理销售，市场空间广。自产自销端以军品为主，随单品电子化程度提升叠加信息化装备在各兵种推广加大，处于军品供应链最前端环节的军工MLCC 企业有望领先受益；代理业务端主要销售民品，成长性>周期性，5G+汽车电子化等持续推进亦有望拉升代理端收入规模。但相关上市企业多为授权式经营，新兴领域发展初期日系厂商等多直接参与下游客户研制，后期随标准程度提升及行业技术不断革新，代理厂商或将逐步迎来业绩快速增长期。

Expanding rail network and increasing demand for passenger and freight transportation are driving the demand for the bogie, couplers, and body manufacturing across the emerging and maturedmarkets. The shift in trend toward deploying diesel electric multiple units and electric multiple units from conventional diesel locomotives in the emerging markets has urged the manufacturers to expand their production bases, in order to benefit from import taxes and attain supply chain optimization, thereby, extending their support to promote the in-house manufacturing agenda of the developing countries. The costs of manufacturing the braking and suspension system of the bogie capture significant share of the bogie assembly production. Companies, like Knorr-Bremse, Akebono Brake Industry, Federal Mogul, etc., have been offering braking components to rolling stock across major countries.