股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 京东物流股份有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02618 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 40,000,000,000 | | USD | 0.000025 | USD | | 1,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 40,000,000,000 | USD | | 0.000025 USD | | 1,000,000 | 本月底法定/註冊股本總額： USD 1,000,000 FF301 第 1 頁 共 ...

二、接此批复文件后，泰康人寿保险有限责任公司云南昆明寻甸营销服务部应立即停止一切经营活动， 于15个工作日内向云南金融监管局缴回许可证，并按照有关法律法规要求办理相关手续。 一、同意撤销泰康人寿保险有限责任公司云南昆明寻甸营销服务部。 2025年8月28日，云南金融监管局发布批复称，《关于撤销泰康人寿保险有限责任公司云南昆明寻甸营 销服务部的请示》（泰康云字〔2025〕79号）收悉。经审核，现批复如下： ...

China Logistics, Express Parcel & Ecommerce July data highlight benefits of anti-involution efforts on pricing and market dynamics, JDL's index inclusion The logistics industry in China is witnessing a positive shift in average selling price (ASP) trends, driven by successful anti-involution efforts. The narrowing ASP decline reflects interventions by the State Post Bureau (SPB) and local governments, with express revenue rising 9% Y/Y in July. This decline in ASP narrowed further from previous months, indi ...

Core Viewpoint - Ande Logistics has submitted its IPO application to the Hong Kong Stock Exchange, marking a significant transition from being a logistics department within Midea Group to an independent entity in the capital market, which presents both opportunities and risks for the company and the contract logistics industry as a whole [1][38] Group 1: Company Overview - Ande Logistics, originating from Midea's internal logistics system, has an annual revenue exceeding 18 billion, aiming to provide integrated supply chain solutions and enhance supply chain efficiency for its clients [1][5][3] - The company offers a comprehensive logistics service that includes lean logistics from raw materials to finished products, integrating online and offline inventory management, and providing a "delivery and installation" service [3][11] Group 2: Market Positioning - The logistics industry has two distinct types of listing stories: one emerging from internet traffic, like JD Logistics, and the other evolving from manufacturing enterprises, like Ande Logistics [4] - Ande Logistics is positioned as an integrated supply chain solution provider, focusing on execution capabilities in sectors such as home appliances and fast-moving consumer goods [11][5] Group 3: Financial Performance - In 2022, Ande Logistics reported a revenue of 14.17 billion, projected to rise to 18.66 billion in 2024, with a net profit increasing from 215 million to 380 million [27] - The company maintains a stable gross margin of approximately 7.3% and a net margin of around 2%, with positive operating cash flow and manageable liabilities [27] Group 4: Strategic Challenges - Ande Logistics faces the challenge of high customer concentration, with over 52% of its revenue coming from its top five clients, including 41.1% from Midea alone [13][10] - The company must reduce its dependency on Midea and expand its client base to achieve sustainable growth and improve its market valuation [29][32] Group 5: Learning from Competitors - Ande Logistics can learn from JD Logistics in terms of storytelling and expanding its external customer structure, particularly through its high-margin "delivery and installation" service [26][29] - The company needs to develop its system capabilities into marketable products, moving beyond internal cost reduction to enhance its valuation potential [29][32]

深圳的制度创新，正为无人配送注入加速度。由深城交依托自主研发的城市级全域数字孪生TransPaaS 平台搭建的功能型无人车管理服务平台，可助力深圳无人车的上路审批、路权管理、安全保障等。"在 罗湖区政府的支持下，我们新开通了金河田营业部和清水河营业部配送路线，成为首批拿到罗湖区路权 的企业。"京东物流深圳负责人表示："目前我们也在探索无人车与地铁联动接驳的新模式，期待未来无 人车使用场景上的更多可能。" 暮色中的梓兴路，十余辆京东无人车陆续返回站点。工作人员快速充电、卸载揽收包裹，车厢内闪烁的 指示灯映照着包裹。当陈薇下班回家，又见熟悉的红色身影。"现在收快递都会留意是不是红色无人车 送来，"她笑着说。这些流动的红色符号，正以每天数百公里的轨迹，在深圳街道编织出智慧物流的新 图景。 深圳坪山区梓兴路，市民陈薇在车流中注意到一抹亮眼的红色——三辆京东物流第六代智能配送车如雁 阵般有序通过路口，流畅运行。"半年前只是零星遇见，现在每天都能看到这些无人车，它们已成了深 圳道路上的新成员。"她摇下车窗用手机记录下这一幕，朋友圈配文写道："连无人车都开始排队上班 了。" 此外，第六代智能配送车还具有环境适应性，多模态融 ...

Core Insights - The express delivery industry in China experienced significant growth in volume, with July 2025 seeing 16.4 billion parcels delivered, a year-on-year increase of 15.1%, and a total of 112.05 billion parcels from January to July, up 18.7% year-on-year [1] - The growth is driven by the trend towards smaller packages, e-commerce promotions, and convenient return policies, surpassing the postal administration's forecast of over 8% growth for the entire year [1] - Major players in the e-commerce express delivery sector, such as YTO, Yunda, and Shentong, reported year-on-year volume increases of 20.8%, 7.6%, and 11.9% respectively in July 2025, with year-to-date increases of 21.6%, 15.1%, and 19.3% [1] - SF Express led the industry with a 33.7% year-on-year increase in volume for July 2025, attributed to its operational strategies and incentives for frontline staff [1] - The Ministry of Finance and the State Administration of Taxation announced new VAT policies for express delivery services, effective immediately, which will impact revenue collection for express companies [1] - Industry average revenue per parcel decreased to 7.36 yuan in July 2025, down 5.33% year-on-year and 1.76% month-on-month, influenced by the trend towards smaller packages and ongoing price wars [1] - However, there are indications of potential price recovery in August 2025 due to a shift away from aggressive competition [1][2] Company Insights - Key players in the express delivery sector include ZTO Express, SF Holding, JD Logistics, and YTO International Express, all of which are listed on the Hong Kong stock exchange [3] - The report from Guohai Securities indicates that franchise express companies may see performance recovery in the context of reduced competition [1][2]

8月22日，恒生指数有限公司公布了最新季度检讨结果。恒生指数成分股数目将从85只增加至88只，新 纳入中国电信股份有限公司、京东物流股份有限公司和泡泡玛特国际集团有限公司。所有变动将于2025 年9月8日正式生效。 此次调整结果基本符合市场预期，三只新纳入的股票分别来自不同行业，体现了恒指行业代表性和多样 性的考量。 泡泡玛特作为中国文化产品最流行的IP，产品风靡全球；中国电信实力雄厚，代表了国央企的稳健发 展；京东物流作为中国物流行业的创新者和领军者，以科技驱动，助力行业降低物流成本备受关注。 恒指调整带来的资金流动不容小觑。追踪恒生指数的ETF规模约为303.5亿美元，这些被动资金需要调 整投资组合以跟踪指数变化。行业人士分析，新纳入的三只个股有望获得增量资金青睐，港股作为"全 球价值洼地"，其中长期投资价值仍受认可，南向资金持续流入便是证明。 （文章来源：证券日报） ...

智通财经获悉，京东物流(02618)涨超7%，截至发稿，涨7.01%，报13.9港元，成交额3.04亿港元。 消息面上，8月22日盘后，恒生指数公司公布了其定期的半年度指数调整结果，其中，京东物流将被纳 入恒生指数成份股，成份股数目将由85只增加至88只。变动将于9月5日收市后实施并于9月8起生效。浙 商证券近期研报指出，京东物流作为一体化供应链行业的龙头公司，业务量持续提升，规模效应逐渐显 现，叠加京东物流接入淘天，京东集团新增外卖业务，公司营收有望进一步提升。 本文源自：智通财经网 ...

智通财经APP获悉，中金发布研报称，上周五(8月22日)盘后，恒生指数公司公布了其定期的半年度指数 调整结果，恒指纳入中国电信(00728)、京东物流(02618)与泡泡玛特(09992);恒生国企纳入泡泡玛特;恒 生科技未调整。该行预计将中电信、京东物流，泡泡玛特带来约1.6亿、6874万与4.5亿美元的资金流 入，流入时间分别约为4.4天、3.5天与1.0天。结合港股通纳入的额外要求，此次港股通标的预计有20只 纳入，19只剔除，与该行此前预测几乎一致。上述调整将在9月5日实施，9月8日正式生效。 2) 恒生国企：被动资金流入所需时间最多的是本次被纳入的泡泡玛特，该行预计将带来1.5亿美元流 入，流入时间约0.3天。 3) 恒生科技：由于个股权重上限8%重置带来的变化，被动资金流入所需时间最多的是地平线机器人-W 与比亚迪股份，该行预计将带来约5.6亿与5.0亿美元流入，流入时间分别为3.4与0.9天。 中金主要观点如下： 恒生系列指数调整：恒指纳入中国电信、京东物流与泡泡玛特;恒生国企纳入泡泡玛特;恒生科技未调整 成分股：中国电信、京东物流与泡泡玛特纳入恒生指数;泡泡玛特纳入恒生国企。 1) 恒生指数： ...

Core Viewpoint - The Hang Seng Index Company announced the quarterly review results of the Hang Seng Index series as of June 30, with adjustments to various indices set to take effect on September 8 [1] Group 1: Index Adjustments - The Hang Seng Index and the Hang Seng China Enterprises Index will include Pop Mart [1] - The Hang Seng Index will also add China Telecom and JD Logistics [1] - The Hang Seng Biotechnology Index will undergo significant changes, adding InnoCare Pharma-B and removing 21 stocks, reducing the total number of constituent stocks from 50 to 30, focusing more on innovative drugs [1] - The Hang Seng Internet Technology Index will include New Oriental Education, SUTENG, and Yunzhisheng [1]