本公司董事会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。 一、董事会会议召开情况 德邦物流股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日向全体董 事以电子邮件的方式发出了召开第六届董事会第八次会议的通知，并于 2025 年 8 月 28 日以通讯方式召开会议。经全体董事一致同意，本次董事会会议豁免通 知时限要求。本次会议应到董事 7 人，实到董事 7 人。本次会议由公司董事长胡 伟先生主持，公司监事、董事会秘书、部分高管列席了会议。本次会议符合《中 华人民共和国公司法》（以下简称"《公司法》"）《德邦物流股份有限公司章程》 （以下简称"《公司章程》"）和《德邦物流股份有限公司董事会议事规则》的有 关规定，会议的召集、召开合法有效。 二、董事会会议审议情况 1、审议通过《关于聘任公司副总经理兼财务负责人的议案》 根据《公司法》及《公司章程》的规定，经公司总经理王雁丰先生提名，公 司董事会同意聘任杨川先生为公司副总经理兼财务负责人，任期自本次董事会审 议通过之日起至公司第六届董事会任期届满之日止。 证券代码：603056 ...

Summary of Conference Call Industry Overview - The 2024 cosmetics market is showing a trend towards female-oriented consumption, with the high-end cosmetics segment performing exceptionally well, indicating significant potential for market upgrades [2][4] - Within high-end cosmetics, the base makeup category accounts for over 50% of the market share, making it the largest category, with structural upgrades driving the high-end trend [2][5] Key Insights and Arguments - The high-end base makeup price segment is growing faster than the mass price segment, with average prices across all price ranges on platforms like Tmall increasing [2][5] - Over the past five years, the overall average price of base makeup has consistently risen, with high-end brands on Tmall and Douyin showing a significantly higher market share compared to other categories, indicating a strong demand growth [2][5] - The company has seen a steady increase in its overall market share, with a growth rate from 2019 to 2023 that is only surpassed by USL and NAS. In 2023, the company achieved a 2% market share in the cosmetics sector, ranking 15th overall and 8th among high-end brands [2][6] Company Performance and Strategies - The company's online market share is increasing at a rate that far exceeds other foreign high-end brands, attributed to strong performances in traditional categories such as foundation, cushion, concealer, and highlighter, with these products ranking in the top ten [2][6] - The company is actively expanding into new product lines, such as black cream and skin clothing, which are expected to become new growth points and further solidify its position in the high-end base makeup market [2][6] Product Development Advantages - The company boasts a strong product development capability, led by a team centered around "Teacher Wang" and an artistic committee that deeply understands domestic consumer needs, continuously improving product quality [3][7] - This technical insight and research capability enable the company to launch high-quality products tailored to the characteristics of Chinese consumers, supporting its core competitiveness [3][7] Future Growth Drivers - From an investment perspective, the main drivers for the company's future development are the trend towards high-end base makeup products and the company's multi-faceted product layout strategy [2][8] - These factors together form the company's core competitive advantage, allowing it to maintain market leadership and achieve stable growth [2][8]

Summary of Key Points from the Conference Call on China's Express Delivery Industry Industry Overview - The conference call focused on the express delivery industry in China, specifically discussing the impact of "anti-involution" policies on pricing and profitability within the sector [3][4]. Core Insights 1. **Price Increases in Key Regions** - Express delivery prices have risen in key regions, with Yiwu seeing an increase of RMB0.1 per parcel in July 2025. The current price for a 0.1 kg parcel is above RMB1.2. In Guangdong, prices for 0.1 kg parcels have risen to RMB1.45-1.55, with regular parcels increasing by RMB0.2-0.3 and discount parcels by approximately RMB0.6 [3]. 2. **Impact of Anti-Involution Policies** - The implementation of anti-involution policies has led to stronger price hikes in Guangdong, a key region for express delivery. However, many franchisees may still be operating at a loss due to high operating costs [3]. 3. **New Social Security Regulations** - New regulations effective from September 1, 2025, mandate that employers cannot opt out of social security payments, which will increase costs for express delivery companies by more than RMB0.1 per parcel. This is expected to further support price hikes in the industry [4]. 4. **Rising Delivery Costs** - The expert noted that the mandatory social insurance expenses and long-standing price competition have suppressed delivery fees, affecting couriers' income. The trend of rising delivery fees is also observed in Eastern and Northern China [4]. 5. **Profitability Concerns** - Despite price increases, the expert expressed concerns that the express delivery industry chain may struggle to maintain profitability due to increased mandatory costs. If these costs are passed on to consumers, delivery prices may rise further [4]. Investment Recommendations 1. **Preferred Companies** - The report recommends investing in STO and Yunda, both rated as "Buy" due to their higher earnings resilience. Target prices remain unchanged [5]. 2. **Other Ratings** - YTO and SF Holding-A/H also maintain "Buy" ratings with unchanged target prices. Conversely, Deppon Logistics is rated "Reduce" due to high valuation concerns [5]. Additional Insights - The expert highlighted that the express delivery market is characterized by intense competition, with 30% of the market being low-priced tickets and 7-11% being discount-priced tickets in Guangdong [3]. - The report anticipates more regional policy tailwinds that could drive further re-rating of express delivery companies [5]. This summary encapsulates the key points discussed during the conference call, providing insights into the current state and future outlook of the express delivery industry in China.

在汽车产业经历深刻变革的当下，物流正成为不可或缺的力量。作为"大件快递领导者"，德邦快递在 2025新能源汽车动力电池供应链大会上，将29年的行业积淀带入汽车物流领域，探索端到端的物流解决 方案。近年来，随着新能源汽车渗透率提升和汽车出口高速增长，汽车产业链上下游对物流的需求发生 深刻变化。德邦快递通过"四网协同"——天网、地网、信息网与最后一公里网络，结合仓储、运输与科 技创新，为汽车制造商、经销商和售后市场提供全链路支持。 迈向新能源时代的运输变革：挑战与机遇并存 2011年，中国汽车市场告别高速增长，进入稳步发展阶段，但汽车保有量和零部件物流规模仍在扩张， 2024年市场规模已达9200亿元，蕴藏着巨大的物流潜力。在这一过程中，德邦快递凭借覆盖全国的网络 与深厚的快运经验，持续为汽车制造商和零部件供应商提供高效支撑，以多元化产品组合和成本优化能 力，成为车企降低费用、提升效率的可靠伙伴。 新能源汽车渗透率快速提升，2024年已达40.9%，动力电池运输与管理成为行业焦点。德邦快递依托危 化品运输资质与全流程安全管控，为电池物流提供合规且稳妥的解决方案。与此同时，零部件线上交易 的扩张带来新需求。2025 ...

无论是整柜DDP、一票到底，还是针对不同品类的定制通关与派送方案，从太阳镜、美妆品，到机械设 备、生鲜水果、新能源电池、危险品，德邦快递都有成熟的操作流程。对于跨境电商客户，还有专门 的"VIP通道"——FBA、FBN仓配服务一条龙，支持亚马逊、Noon等平台，免费预约送舱、换标签、打 包。迪拜不仅是交通要塞，更是德邦快递在中东的货运中枢。保税仓可以实现换单、换柜、换产地证， 一站式完成所有手续，让货物顺畅进入中东市场，而不必在港口滞留。 （原标题：德邦快递打造中东物流专线，一条货运专线连通六国） 据"德邦大件快递"消息，在迪拜，货物一落地，便有专人在码头等候；几小时后，它们就能登上驶向客 户仓库的卡车。为打通中东复杂的物流路径，德邦快递开设了中国至阿联酋、沙特、科威特、卡塔尔、 巴林、阿曼六国的空海运专线，21条运输线路让货物能够从中国出发直达中东的各个角落。 德邦快递的中东专线，不只是把货物从A运到B，而是覆盖了从中国发货到中东签收的全链路服务。在 国内，全国各地都能上门揽收，货物集中到仓库后进行打包、贴标，报关手续全包；在海外，迪拜团队 第一时间清关，最快当天就能安排派送。无论是深圳、宁波、广州还是上海 ...

Market Overview - On August 19, the logistics sector experienced a slight decline of 0.06% compared to the previous trading day, with Jiacheng International leading the drop [1] - The Shanghai Composite Index closed at 3727.29, down 0.02%, while the Shenzhen Component Index closed at 11821.63, down 0.12% [1] Stock Performance - Notable gainers in the logistics sector included: - Pulutong (002769) with a closing price of 9.02, up 3.92% on a trading volume of 298,600 shares and a turnover of 267 million yuan - Chuanhua Zhili (002010) at 6.33, up 2.43% with a volume of 911,300 shares and a turnover of 577 million yuan - Hongchuan Wisdom (002930) at 12.45, up 2.38% with a volume of 128,100 shares and a turnover of 159 million yuan [1] - Conversely, Jiacheng International (603535) saw a significant decline of 4.00%, closing at 12.23 with a trading volume of 260,300 shares and a turnover of 318 million yuan [2] Capital Flow - The logistics sector experienced a net outflow of 192 million yuan from institutional investors and 139 million yuan from retail investors, while individual investors saw a net inflow of 331 million yuan [2] - Key stocks with notable capital flows included: - Shunfeng Holdings (002352) with a net inflow of 14.7 million yuan from institutional investors, but a net outflow of 82.7 million yuan from retail investors [3] - Pulutong (002769) had a net inflow of 17.5 million yuan from institutional investors, while retail investors saw a net outflow of 20.4 million yuan [3]

北京世辉律师事务所 关于德邦物流股份有限公司 法律意见书 致：德邦物流股份有限公司 北京世辉律师事务所（以下简称"本所"）为具有从事法律业务资格的律师事 务所。本所接受德邦物流股份有限公司（以下简称"公司"）的委托，指派本所律 师根据《中华人民共和国公司法》《中华人民共和国证券法》（以下简称"《证券 法》"）《上市公司股东会规则》等有关法律、法规、规范性文件（以下统称"法 律法规"）及《德邦物流股份有限公司章程》（以下简称"《公司章程》"）的规定， 就公司 2025 年第一次临时股东会（以下简称"本次股东会"）相关事宜出具本法 律意见书。 本所及本所律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完 整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗 漏，并承担相应法律责任。 为出具本法律意见书，本所律师查阅了公司提供的有关本次股东会的相关文 件。在本法律意见书中，本所律 ...

Group 1 - The company held a shareholders' meeting on August 18, 2025, in Shanghai, with all necessary legal procedures followed [1] - The meeting was chaired by the company's chairman, Mr. Hu Wei, and utilized a combination of on-site and online voting methods [1] - There were no rejected resolutions during the meeting, indicating unanimous support for the proposals presented [1] Group 2 - The election of Mr. Wang Yanfeng as a non-independent director was a key agenda item, although specific voting results were not detailed [1] - The legal representatives confirmed that the meeting complied with relevant laws and regulations, ensuring the validity of the voting process [1] - The attendance of directors, supervisors, and the board secretary was noted, contributing to the legitimacy of the meeting [1]

证券代码：603056 证券简称：德邦股份 公告编号：2025-043 德邦物流股份有限公司 2025年第一次临时股东会决议公告 本公司董事会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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 306 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 694,232,867 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总 | 68.0744 | | 数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 会议由公司董事会召集，董事长胡伟先生主持，会议采用现场投票和网络投 票相结合的方式表决，符合《公司法》及《公司章程》的规定。 (一) 股东会召开的时间：2025 年 8 月 18 日 (二) 股东会召开的地点：上海市青浦区徐泾镇徐祥路 316 号 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 二、 议案审议情况 ...

法律意见书 致：德邦物流股份有限公司 北京世辉律师事务所（以下简称"本所"）为具有从事法律业务资格的律师事 务所。本所接受德邦物流股份有限公司（以下简称"公司"）的委托，指派本所律 师根据《中华人民共和国公司法》《中华人民共和国证券法》（以下简称"《证券 法》"）《上市公司股东会规则》等有关法律、法规、规范性文件（以下统称"法 律法规"）及《德邦物流股份有限公司章程》（以下简称"《公司章程》"）的规定， 就公司 2025 年第一次临时股东会（以下简称"本次股东会"）相关事宜出具本法 律意见书。 本所及本所律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完 整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗 漏，并承担相应法律责任。 为出具本法律意见书，本所律师查阅了公司提供的有关本次股东会的相关文 件。在本法律意见书中，本所律师仅对本次股东会的召集和召开程序、出席会议 人 ...