六月凤凰花开毕业季，全国将近3000所高校的1222万毕业生行李寄递市场，成为快递玩家在淡季的必争之地。 为了抢客，去年顺丰京东们甚至在校园面对面搭台子互掐，宣传广告"你九毛一斤，我就八毛"，赚不赚钱无所谓，主打一个市占为王。 今年毕业寄的战火，比往年来的更早一些。 "行家"德邦在5月份就放出消息，临时收寄点、学生专属优惠、服务点直接布置到宿舍楼下、上门取件+送货上门这种常规操作继续，还延长了毕业学生特 权。 随后，顺丰、韵达相继官宣专项业务，安能、百世等也接连发布下场，接下来，老玩家们京东物流、通达系也会陆续发布官宣。 亿豹网发现，如今的高校毕业寄，越来越像是另一个618战场，也成为了快递营销日历上的一个重要节日，只是这块蛋糕，并没有想象中香甜。 快递企业悉数出牌 凭借多年的市场教育以及在消费者心智中的认知提升，快递培养了用户轻装出行的消费理念，而对于价格不敏感、常年被电商浸染的学生群体而言，毕业 用快递寄行李已经是一件十分自然的事情，这也催生了大量快递业务需求。 面对将近3000所高校的上千万毕业生行李寄递需求，直营、加盟快递都纷纷上花活。 其中，顺丰针对认证的学生会员，推出"首单0元起"，毕业后相关权益 ...

Core Viewpoint - The company, Debon Logistics, has adjusted its share repurchase price limit to a maximum of RMB 15.85 per share, down from RMB 16.00 per share, following the annual profit distribution for 2024 [1][2][3] Group 1: Stock Performance - As of June 13, 2025, Debon Logistics' stock closed at RMB 16.8, a decrease of 7.64% from the previous week's closing price of RMB 18.19 [1] - The stock reached a weekly high of RMB 18.61 on June 9, 2025, and a low of RMB 16.67 on June 13, 2025 [1] - The company's current total market capitalization is RMB 17.133 billion, ranking 11th out of 45 in the logistics sector and 907th out of 5,150 in the A-share market [1] Group 2: Share Repurchase and Dividend Distribution - The company has approved a share repurchase plan to buy back shares at a price not exceeding RMB 16.00 per share, with a total repurchase fund ranging from RMB 75 million to RMB 150 million [2] - The annual profit distribution plan includes a cash dividend of RMB 0.144 per share, totaling RMB 146.85 million, with the record date for the distribution set for June 10, 2025 [2] - The adjusted repurchase price limit reflects a calculation based on the dividend distribution, with the new limit set at RMB 15.85 per share [3]

Investment Rating - The report maintains a "Positive" investment rating for the logistics unmanned vehicle industry [5] Core Insights - The logistics unmanned vehicle industry is entering a phase of large-scale commercialization driven by product price reductions, open road rights, and diverse application scenarios [5] - The main application scenario for logistics unmanned vehicles is last-mile delivery, which can significantly reduce costs and improve efficiency for express delivery companies [5][6] - The potential market size for logistics unmanned vehicles is estimated to reach 207.1 billion yuan, with the ability to replace up to 4.44 million traditional commercial vehicles annually [52] Summary by Sections 1. Logistics Unmanned Vehicles: Commercialization Milestone - Logistics unmanned vehicles are defined as autonomous cargo transport tools primarily used in express delivery and other logistics scenarios [10] - The current largest application scenario is the delivery from express service points to community stations, which can replace traditional delivery vehicles and reduce labor costs [25] 2. Manufacturing Segment: Clear Industry Trends and Growing Orders - The market for logistics unmanned vehicles is expected to exceed 100 billion yuan, with significant replacement potential for traditional vehicles [52] - Leading companies like New Stone and Nine Knowledge have reported rapid growth in orders, indicating strong demand in the market [53] 3. Application Segment: Last-Mile Delivery and Cost Reduction - Express delivery companies are increasingly adopting unmanned vehicles for last-mile delivery, which can enhance profitability for franchisees [6] - Companies like SF Express and Debon are actively integrating unmanned vehicles into their operations, leading to cost savings and operational efficiency [5][6] 4. Investment Analysis - The report suggests focusing on companies such as SF Holdings, SF Same City, and Debon, which are well-positioned to benefit from the adoption of unmanned vehicles [5][6]

德邦物流股份有限公司 证券代码：603056 证券简称：德邦股份 公告编号：2025-032 关于实施 2024 年度权益分派后 调整股份回购价格上限的公告 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： 德邦物流股份有限公司（以下简称"公司"）分别于2025年4月24日召开第 六届董事会第五次会议、2025年5月16日召开2024年年度股东会，逐项审议并通 过了《关于以集中竞价交易方式回购股份预案的议案》，同意公司自股东会审议 通过之日起12个月内使用不低于人民币7,500.00万元（含），不高于人民币 元/股（含）的价格回购公司股份，本次回购股份将全部予以注销并减少公司注 册资本，具体回购股份的数量和占公司总股本的比例，以回购方案实施完毕或回 购期限届满时实际回购的股份数量为准。具体内容详见公司于2025年6月5日在上 海证券交易所（以下简称"上交所"）网站（www.sse.com.cn）披露的《德邦物 流股份有限公司关于以集中竞价交易方式回购股份的回购报告书》（公告编号： 二、本次调整回购股份价格上限的原 ...

证券代码：603056 证券简称：德邦股份 公告编号：2025-032 德邦物流股份有限公司 关于实施 2024 年度权益分派后 调整股份回购价格上限的公告 重要内容提示： 一、回购股份的基本情况 德邦物流股份有限公司（以下简称"公司"）分别于2025年4月24日召开第 六届董事会第五次会议、2025年5月16日召开2024年年度股东会，逐项审议并通 过了《关于以集中竞价交易方式回购股份预案的议案》，同意公司自股东会审议 通过之日起12个月内使用不低于人民币7,500.00万元（含），不高于人民币 15,000.00万元（含）的自有资金，通过集中竞价交易方式以不超过人民币16.00 元/股（含）的价格回购公司股份，本次回购股份将全部予以注销并减少公司注 册资本，具体回购股份的数量和占公司总股本的比例，以回购方案实施完毕或回 购期限届满时实际回购的股份数量为准。具体内容详见公司于2025年6月5日在上 海证券交易所（以下简称"上交所"）网站（www.sse.com.cn）披露的《德邦物 1 调整前回购价格上限：不超过人民币 16.00 元/股（含） 调整后回购价格上限：不超过人民币 15.85 元/股（含） 价 ...

Market Overview - The Shanghai Composite Index fell by 0.44% on June 10, with six industries experiencing gains, led by beauty care and banking, which rose by 1.10% and 0.48% respectively [1] - The transportation sector saw a slight increase of 0.17% [1] - A total of 26 industries experienced net outflows of capital, with the electronics sector leading the outflow at 7.532 billion yuan, followed by the computer sector with 7.427 billion yuan [1] Capital Flow Analysis - The transportation industry had a net inflow of 635 million yuan, with 125 stocks in the sector, of which 54 rose and 62 fell [2] - The top three stocks with the highest net inflow in the transportation sector were Lianyungang (180 million yuan), Nanjing Port (149 million yuan), and COSCO Shipping Holdings (140 million yuan) [2] - The leading stocks with net outflows included Debon Logistics (-39.14 million yuan), CITIC Offshore Helicopter (-34.45 million yuan), and Chongqing Port (-30.83 million yuan) [4] Transportation Sector Performance - The transportation sector's top gainers included Lianyungang (9.99%), Nanjing Port (10.02%), and COSCO Shipping Holdings (0.50%) [2] - The sector's stocks with significant net outflows included Debon Logistics (-1.94%), CITIC Offshore Helicopter (-1.87%), and Chongqing Port (5.17%) [4]

Investment Rating - The industry rating is "Outperform the Market" [8][16] Core Viewpoints - The automotive sector is focusing on luxury vehicles and unmanned logistics, with a recommendation to pay attention to leading companies such as BYD, Geely, and Xiaomi for overall vehicle production, and to Seres and Li Auto for luxury vehicles [3][4] - The robotaxi segment has experienced significant adjustments, primarily influenced by trading factors rather than fundamental issues, with a focus on the upcoming operational effects of Tesla's robotaxi on June 12 [4][5] - The low-altitude economy is highlighted, particularly the unmanned aerial vehicle (UAV) sector, which is expected to shift from being part of unmanned logistics to an independent market leader if relevant policies are implemented in June [6] Summary by Sections Automotive Sector - The report emphasizes the ongoing pressure in the domestic market and the increasing competition, suggesting a focus on leading automotive companies and luxury vehicle manufacturers [4][3] - Key companies to watch include BYD, Geely, Xiaomi, Seres, and Li Auto [4] Robotaxi and Robotics - The report notes a significant adjustment in the robotaxi market, with a focus on the upcoming Tesla robotaxi operations and the potential for new market trends [4][5] - Recommendations include focusing on large-cap stocks related to Tesla and companies with strong industrial logic and future potential [5] Low-altitude Economy - The report suggests that the UAV sector is poised for growth, particularly if low-altitude policies are enacted, with a focus on companies like Zongheng and Green Energy Hui充 [6]

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]

Core Viewpoint - The stock of Debon Logistics Co., Ltd. experienced abnormal trading fluctuations, with a cumulative decline of 20% over three consecutive trading days from June 4 to June 6, 2025, following a period of continuous price increases [1][2]. Group 1: Stock Trading Abnormalities - The company's stock was identified as having abnormal trading fluctuations according to the Shanghai Stock Exchange regulations [1]. - The stock price fell significantly after a series of price increases, indicating potential irrational speculation in the market [1][3]. Group 2: Company Operations and Major Events - The company confirmed that its daily operations are normal, with no significant changes in its main business or market environment [2]. - There are no undisclosed major events affecting the stock's abnormal fluctuations, including asset restructuring or major transactions [2][3]. Group 3: Media Reports and Market Rumors - The company noted recent market interest in "unmanned logistics vehicles," but it has not implemented such technology, and it does not impact the company's performance [2]. - No other media reports or market rumors were found that could significantly affect the stock price [2]. Group 4: Share Buyback Plan - The company plans to repurchase shares to reduce registered capital, but the implementation of this plan is uncertain due to the stock price exceeding the buyback price limit of 16 yuan per share [3][5]. - The indirect controlling shareholder, JD Zhaofeng, has not engaged in buying or selling the company's stock during the abnormal trading period [4]. Group 5: Financial Performance - For Q1 2025, the company reported revenue of 10.407 billion yuan, an increase of 11.96% year-on-year, but a net loss of 68 million yuan, a decline of 173.691% compared to the previous year [5]. - The net profit after excluding non-recurring items was a loss of 117 million yuan, down 853.68% year-on-year [5].

德邦物流股份有限公司 股票交易异常波动公告 证券代码：603056 证券简称：德邦股份 公告编号：2025-031 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： 德邦物流股份有限公司（以下简称"公司"）股票于 2025 年 6 月 4 日、 6 月 5 日、6 月 6 日连续三个交易日内日收盘价格跌幅偏离值累计达到 20%， 根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波动情形。 经公司自查，并书面征询公司控股股东宁波梅山保税港区德邦投资控 股股份有限公司（以下简称"德邦控股"）和间接控股股东宿迁京东卓风企业 管理有限公司（以下简称"京东卓风"），截至本公告披露日，确认不存在应披 露而未披露的重大信息。 重大风险提示：公司近期股价在连续涨停后又连续 3 天下跌，上下波 动较大，可能存在非理性炒作。公司敬请广大投资者注意二级市场交易风险， 理性决策，审慎投资。 一、股票交易异常波动的具体情况 公司股票于 2025 年 6 月 4 日、6 月 5 日、6 月 6 日连续三个交易日内日 收盘价格跌幅偏 ...