两融数据显示，该股最新融资余额为3.35亿元，近5日增加1537.15万元，增幅为4.81%。（数据宝） 6月12日圆通速递大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折溢 | 买方营业部 | 卖方营 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | 价（%） | | 业部 | | 350.00 | 4340.00 | 12.40 | -5.99 | 中信证券股份有限公司深圳滨海 | 机构专 | | | | | | 大道证券营业部 | 用 | | 61.10 | 757.64 | 12.40 | -5.99 | 机构专用 | 机构专 | | | | | | | 用 | | 36.00 | 446.40 | 12.40 | -5.99 | 机构专用 | 机构专 | | | | | | | 用 | | 32.12 | 398.29 | 12.40 | -5.99 | 机构专用 | 机构专 | | | | | | | 用 | | 20.00 | 248.00 | 12.40 | -5.99 | 中信证券股份有限公司大 ...

本法律意见书的出具已得到公司如下保证： 1、公司向本所提供的所有文件资料及所作出的所有陈述和说明均是真实、 准确、完整和有效的，且一切足以影响本法律意见书的事实和文件均已向本所 披露，而无任何隐瞒或重大遗漏。 北京金杜（杭州）律师事务所 关于圆通速递股份有限公司 2024 年度差异化权益分派之 专项法律意见书 致：圆通速递股份有限公司 北京金杜（杭州）律师事务所（以下简称本所）受圆通速递股份有限公司 （以下简称公司）委托，根据《中华人民共和国公司法》（以下简称《公司法》）、 《中华人民共和国证券法》（以下简称《证券法》）、《上市公司股份回购规 则》（以下简称《回购规则》）、《上海证券交易所上市公司自律监管指引第 7 号——回购股份》（以下简称《监管指引第 7 号》）、《上海证券交易所股 票上市规则》等中华人民共和国境内（为本法律意见书之目的，不包括中华人 民共和国香港特别行政区、中华人民共和国澳门特别行政区和中华人民共和国 台湾地区）现行有效的法律、法规和规范性文件的规定以及《圆通速递股份有 限公司章程》，就公司 2024 年度利润分配所涉及的差异化权益分派（以下简称 本次差异化权益分派）相关事项，按照律师行 ...

证券代码：600233 证券简称：圆通速递 公告编号：临 2025-039 圆通速递股份有限公司2024年年度利润分配实施公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.36元（含税） | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/16 | － | 2025/6/17 | 2025/6/17 | 差异化分红送转：是 相关日期 一、通过分配方案的股东大会届次和日期 本次利润分配方案经圆通速递股份有限公司（以下简称"公司"或"本公司"） 2025 年 5 月 20 日的2024年年度股东大会审议通过，具体内容详见公司于 2025 年 5 月 21 日在上海证券交易所网站（www.sse.com.cn）及指定信息披露媒体披露的 《圆通速递股份有限公司2024年年度股东大会决议公告》（公告编号：临2025-035）。 二、分配方案 1.发放年度： ...

Core Viewpoint - The legal opinion letter confirms that YTO Express Co., Ltd.'s differentiated equity distribution plan for the year 2024 complies with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [5]. Group 1: Differentiated Equity Distribution - The differentiated equity distribution is necessitated by the company's share repurchase plan, which resulted in a discrepancy between the total share capital and the shares eligible for distribution [4]. - The company plans to distribute cash dividends to all shareholders based on the total share capital minus the shares held in the repurchase account, with a proposed distribution of cash dividends of 0.36 yuan per share [4][5]. - The total share capital as of May 26, 2025, is reported to be 3,446,753,438 shares, after deducting the repurchased shares [4]. Group 2: Legal Compliance and Verification - The law firm asserts that the legal opinion is based on accurate and complete information provided by the company, and it has conducted thorough verification to ensure the facts are true and lawful [2][3]. - The opinion letter states that the differentiated equity distribution meets the criteria of not distributing profits to repurchased shares and that the impact on the reference price for ex-rights and ex-dividends is negligible, being less than 1% [5]. - The legal opinion is intended solely for the purpose of the differentiated equity distribution and cannot be used for any other purpose [3].

证券代码：600233 证券简称：圆通速递 公告编号：临 2025-039 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 每股分配比例 A 股每股现金红利0.36元（含税） ? 相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/16 | － | 2025/6/17 | 2025/6/17 | | ? 差异化分红送转：是 一、通过分配方案的股东大会届次和日期 本次利润分配方案经圆通速递股份有限公司（以下简称"公司"或"本公司"） 《圆通速递股份有限公司 2024 年年度股东大会决议公告》 （公告编号：临 2025-035）。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号 ...

北京金杜（杭州）律师事务所 关于圆通速递股份有限公司 2024 年度差异化权益分派之 专项法律意见书 对于出具本法律意见书至关重要而又无独立证据支持的事实，本所依赖有 关政府部门、公司和其他有关单位或有关人士出具的证明文件出具本法律意见 书。 本所同意将本法律意见书作为公司本次差异化权益分派的必备文件之一， 随其他材料一起上报或公告。 本所同意公司在其为实行本次差异化权益分派所制作的相关文件中引用本 法律意见书的相关内容，但公司作上述引用时，不得因引用而导致法律上的歧 义或曲解，本所有权对上述相关文件的相应内容再次审阅并确认。 本法律意见书仅供公司为本次差异化权益分派之目的使用，不得用作任何 其他目的。 致：圆通速递股份有限公司 北京金杜（杭州）律师事务所（以下简称本所）受圆通速递股份有限公司 （以下简称公司）委托，根据《中华人民共和国公司法》（以下简称《公司法》）、 《中华人民共和国证券法》（以下简称《证券法》）、《上市公司股份回购规 则》（以下简称《回购规则》）、《上海证券交易所上市公司自律监管指引第 7 号——回购股份》（以下简称《监管指引第 7 号》）、《上海证券交易所股 票上市规则》等中华人民共和国 ...

证券代码：600233 证券简称：圆通速递 公告编号：临 2025-039 圆通速递股份有限公司2024年年度利润分配实施公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 1.发放年度：2024年年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 每股分配比例 A 股每股现金红利0.36元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/16 | － | 2025/6/17 | 2025/6/17 | 差异化分红送转：是 一、通过分配方案的股东大会届次和日期 本次利润分配方案经圆通速递股份有限公司（以下简称"公司"或"本公司"） 2025 年 5 月 20 日的2024年年度股东大会审议通过，具体内容详见公司于 2025 年 5 月 21 日在上海 ...

Core Viewpoint - The express delivery industry in China is experiencing significant growth but faces challenges from climate change, necessitating effective climate adaptation actions and risk management strategies [1][2]. Group 1: Climate Change Impact and Industry Response - The express delivery sector is increasingly recognizing the challenges and opportunities posed by climate change, integrating climate risk management into corporate governance frameworks [1][2]. - From January 1, 2025, listed companies in Hong Kong will be required to disclose information related to greenhouse gas emissions, financial impacts, and risk management [1][17]. Group 2: Carbon Reduction Achievements - Major logistics companies such as JD Logistics, SF Express, Jitu Express, ZTO Express, and YTO Express have made significant carbon reduction achievements and launched various carbon reduction plans [2][40]. - JD Logistics has set a target to increase its annual procurement of renewable electricity by 100% by 2030 compared to 2019 levels, aiming for a 50% reduction in total carbon emissions across scopes 1, 2, and 3 [8][9]. Group 3: Specific Carbon Reduction Initiatives - JD Logistics has implemented a series of initiatives, including the use of over 10,000 self-operated new energy vehicles and the first large-scale use of hydrogen fuel trucks in the industry, reducing diesel consumption by approximately 600,000 liters annually [5][10]. - SF Express has achieved a carbon reduction of over 660,000 tons through green packaging and has invested in 1,918 reusable packaging containers, achieving over 1 billion cycles of use [26][27]. Group 4: Green Packaging and Transportation - The express delivery industry is focusing on green packaging and transportation, with JD Logistics promoting the use of X-series boxes that reduce raw material usage by 5% to 25%, resulting in a carbon reduction of 12,164 tons annually [24][39]. - Jitu Express has introduced biodegradable packaging materials and circular transit bags, significantly reducing carbon emissions associated with packaging [35][38]. Group 5: Future Goals and Collaborations - Companies are setting ambitious future goals, with SF Express aiming for net-zero emissions across its value chain by 2050 and JD Logistics committing to a net-zero target from 2023 to 2050 [14][31]. - The "Climate and Low-Carbon Transition Partnership Initiative" launched by JD Logistics aims to foster cross-industry collaboration for green upgrades across the entire supply chain [9][12].

Core Insights - The Chinese e-commerce logistics market is experiencing rapid growth, becoming a key driver for industrial upgrades and consumption growth in the digital economy era, with a projected market size of 1.4 trillion yuan in 2024, reflecting a year-on-year growth of 13.8% [1][14] E-commerce Logistics Overview - E-commerce logistics refers to the supply chain system that provides comprehensive services such as warehousing, sorting, transportation, delivery, and returns for e-commerce transactions, aiming to efficiently connect sellers and consumers [1] E-commerce Logistics Classification - E-commerce logistics can be classified based on service objects (B2C, B2B, C2C), operational models (self-operated, third-party, crowdsourced, cross-border), and delivery timeliness (instant delivery, same-day/next-day delivery, standard delivery) [2][3] Development History of E-commerce Logistics in China - The industry has evolved from traditional delivery methods to intelligent services, with significant growth from 2008 to 2015 due to the explosion of e-commerce platforms, followed by a consolidation phase from 2016 to 2020, and entering a high-quality development phase driven by innovation since 2021 [4] Relevant Policies for E-commerce Logistics - Various policies have been introduced to support the e-commerce logistics sector, focusing on digital empowerment, network optimization, and green transformation, which are essential for the industry's high-quality development [6][7] E-commerce Logistics Industry Chain - The industry has formed a complete value chain, including upstream logistics infrastructure, intelligent devices, and technology service providers, with core operational links involving comprehensive logistics service providers and specialized service providers [8] Current Status of E-commerce Logistics Industry - The online retail market in China has shown steady growth, with online retail sales projected to reach 15.52 trillion yuan by 2024, reflecting a compound annual growth rate of 7.19% [10] Competitive Landscape of E-commerce Logistics Industry - The industry features a tiered competitive structure, with leading companies like JD Logistics and SF Express dominating the high-end market, while the second tier includes the "Tongda" system (ZTO, Yunda, YTO) focusing on cost advantages [16][17] Key Enterprises - SF Express reported a revenue of 284.4 billion yuan in 2024, with a year-on-year growth of 10.1%, while JD Logistics achieved a revenue of 182.8 billion yuan, reflecting a 10% increase [18][20] Future Trends in E-commerce Logistics - The industry is expected to focus on service quality enhancement, accelerated digital transformation, green low-carbon initiatives, and deeper global supply chain integration, driven by technological innovation and evolving consumer demands [22][25][26]

Investment Rating - The report maintains an "Outperform" rating for the transportation industry [1][3][5] Core Views - The logistics sector is benefiting from the introduction of unmanned delivery vehicles, which are expected to reduce costs and improve efficiency in the last mile of delivery [2][47] - The shipping industry is experiencing a divergence in performance, with oil tanker rates rising significantly for smaller vessels while VLCC rates are under pressure due to geopolitical factors [1][20][68] - The air travel sector is entering a low season, but domestic passenger flight volumes remain above 2019 levels, indicating a potential for recovery in pricing and demand [2][40][42] - The express delivery market is seeing strong demand growth, with major players like SF Express and ZTO Express planning to scale up their fleets of unmanned delivery vehicles [2][51] Summary by Sections Shipping Sector - Oil tanker rates have shown significant divergence, with small vessel rates increasing while VLCC rates are under pressure due to geopolitical tensions [1][20] - The report anticipates a rise in shipping rates due to limited new capacity and potential demand recovery, recommending companies like COSCO Shipping Energy and China Merchants Energy [1][68] Air Travel Sector - The overall and domestic passenger flight volumes have decreased slightly, but remain above 2019 levels, indicating resilience in the market [2][40] - The report suggests that domestic airfares may stabilize and recover in 2025, with recommendations for airlines such as Air China and China Southern Airlines [2][42] Express Delivery Sector - The introduction of unmanned delivery vehicles is expected to significantly reduce costs for leading companies in the express delivery market [2][47] - SF Express is projected to maintain a strong growth rate of 15-20% over the next two years, with a PE ratio of approximately 20 times for 2025 [2][51] Investment Recommendations - The report recommends a focus on companies with stable operations and potential for steady returns, including SF Express, ZTO Express, and China Merchants Energy [5][27]