一、变更公司名称 为增强公司整体竞争力，全面地反映公司业务发展现状，体现公司跨地域发 展的情况及产业布局，使公司名称更贴合当前集团化发展的实际情况，根据公司 实际情况及经营发展需要，拟将公司名称由"韵达控股股份有限公司"变更为"韵 达控股集团股份有限公司"，证券简称及证券代码保持不变。 二、修订《公司章程》 基于上述公司名称的变更情况，同时根据最新修订的《中华人民共和国公司 法》等法律法规的规定，现对《公司章程》部分条款进行修订，具体如下： 证券代码：002120 证券简称：韵达股份 公告编号：2024-085 韵达控股股份有限公司 关于拟变更公司名称及修订《公司章程》的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 韵达控股股份有限公司（以下简称"公司"）于 2024 年 11 月 6 日召开的第八 届董事会第十五次会议审议通过了《关于拟变更公司名称及修订<公司章程>的 议案》，具体情况如下： 上述拟变更公司名称及修订《公司章程》事项尚需提交公司2024年第二次临 时股东会以特别决议方式进行审议，公司董事会提请股东会授权公司管理层及其 授权人士办理公司 ...

证券代码：002120 证券简称：韵达股份 公告编号：2024-084 韵达控股股份有限公司 特此公告。 二、监事会会议审议情况 1、会议以 3 票同意，0 票反对，0 票弃权，审议通过了《关于修订<监事 会议事规则>的议案》。 具体内容详见公司同日在巨潮资讯网（http://www.cninfo.com.cn）披露的相 关公告。 本议案需提交公司 2024 年第二次临时股东会以特别决议方式进行审议。 三、备查文件 第八届监事会第十二次会议决议。 第八届监事会第十二次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 韵达控股股份有限公司（以下简称"公司"）第八届监事会第十二次会议通 知于 2024 年 11 月 3 日以电子邮件和书面方式送达各位监事，会议于 2024 年 11 月 6 日在上海市召开，本次会议以现场表决的方式进行，会议应参加表决的监事 3 人，实际参加表决的监事 3 人。会议由监事会主席赖雪军先生召集并主持。本 次会议的出席人数、召集、召开程序和审议内容符合《中华人民共和国公司法》 及《韵达控股股份有限公司 ...

证券代码：002120 证券简称：韵达股份 公告编号：2024-086 韵达控股股份有限公司 关于召开公司2024年第二次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 韵达控股股份有限公司（以下简称"公司"）第八届董事会第十五次会议审 议通过了《关于召开公司2024年第二次临时股东会的议案》，现就召开本次股东 会的相关事项通知如下： 2、股东会的召集人：公司第八届董事会 3、会议召开的合法、合规性：本次股东会会议的召集、召开程序符合有关 法律、行政法规、部门规章、规范性文件和《韵达控股股份有限公司章程》的规 定。 4、会议召开的日期、时间： （1）现场会议召开时间为：2024年11月26日（星期二）下午14:30 （2）网络投票时间为：2024年11月26日（星期二），其中通过深圳证券交 易所交易系统进行网络投票的具体时间为：2024年11月26日（星期二）上午9:15- 9:25、9:30-11:30，下午13:00-15:00；通过深圳证券交易所互联网投票系统投票的 具体时间为：2024年11月26日上午9:15至下午15:00任意时间 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Views - The company reported continuous improvement in performance, with a 24% year-on-year increase in net profit attributable to shareholders in Q3 2024 [2][6] - For the first three quarters of 2024, the company achieved revenue of 35.509 billion yuan, a year-on-year growth of 8.14%, and a net profit of 1.408 billion yuan, up 20.93% year-on-year [2][6] Summary by Sections Financial Performance - In Q3 2024, the company generated revenue of 12.257 billion yuan, reflecting an 8.84% year-on-year increase, and a net profit of 3.67 billion yuan, which is a 24.25% increase year-on-year [2][6] - The total express delivery volume for the first three quarters reached 16.943 billion pieces, a growth of 27.71% year-on-year, with a market share of 13.69% [6] - In Q3 2024, the express delivery volume was 6.019 billion pieces, growing 23.72% year-on-year, with a market share of 13.80%, up 0.41 percentage points year-on-year [6] Cost Management - The company has effectively utilized digital management to reduce period expenses, which decreased by 16% year-on-year in Q3 2024 [6] - The total expenses for the first three quarters were 1.537 billion yuan, down 14.99% year-on-year, with Q3 expenses at 493 million yuan, a 16.33% decrease year-on-year [6] Asset Impairment - The company made provisions for asset impairment totaling 169 million yuan in the first three quarters of 2024, which will reduce the net profit attributable to shareholders by 127 million yuan [6] Earnings Forecast - The company is expected to achieve revenues of 52.236 billion yuan, 58.611 billion yuan, and 63.484 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 16.12%, 12.20%, and 8.31% [6] - The net profit attributable to shareholders is projected to be 2.036 billion yuan, 2.465 billion yuan, and 2.846 billion yuan for the same years, with growth rates of 25.26%, 21.10%, and 15.45% respectively [6]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the market benchmark within the next six months [5][13]. Core Views - The company, Yunda Express, reported a continuous improvement in profitability, with a Q3 2024 net profit of 370 million yuan, representing a year-on-year increase of 24.3% [2][3]. - The overall revenue for the first three quarters of 2024 reached 35.51 billion yuan, up 8.1% year-on-year, with a net profit of 1.41 billion yuan, also up 20.9% year-on-year [2][3]. - The report highlights that the growth in delivery volume has consistently exceeded expectations, with Q3 2023 delivery volume at 6.02 billion pieces, a year-on-year increase of 23.7% [2][3]. Financial Performance Summary - For Q3 2024, the company achieved an operating revenue of 12.26 billion yuan, an increase of 8.8% year-on-year, and a net profit of 370 million yuan, up 24.3% year-on-year [2][3]. - The average selling price (ASP) for Q3 2024 was 1.99 yuan per piece, down 10.4% year-on-year, while the ASP for the first three quarters of 2024 was 2.07 yuan per piece [2][3]. - The report projects the company's net profit for 2024, 2025, and 2026 to be 2 billion, 2.3 billion, and 2.8 billion yuan respectively, reflecting a positive growth outlook [3][5]. Financial Data and Valuation - The financial data for the company shows a projected revenue of 51.16 billion yuan for 2024, with a growth rate of 14% [4]. - The net profit for 2024 is estimated at 2.02 billion yuan, with a growth rate of 24% [4]. - The report indicates an EPS of 0.70 yuan for 2024, with a P/E ratio of 11.9 [4][11].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has achieved significant growth in both volume and profit, driven by effective cost control and a strategy of "exchanging price for volume" [2][5] - The express delivery industry has shown resilience with a year-on-year business volume growth rate of 22.03%, with the company outperforming this at 27.71% [2][6] - The company is expected to continue optimizing costs and improving pricing power, leading to enhanced profitability in the future [6][7] Financial Performance Summary - For the first three quarters of 2024, the company reported a revenue of 35.509 billion yuan, a year-on-year increase of 8.14%, and a net profit attributable to shareholders of 1.408 billion yuan, up 20.93% [2][4] - In Q3 2024, the company achieved a revenue of 12.257 billion yuan, a year-on-year increase of 8.84%, and a net profit of 367 million yuan, up 24.25% [2][4] - The company's business volume reached 16.943 billion pieces in the first three quarters, a growth of 27.71%, with a single piece revenue of 2.10 yuan, down 15.32% year-on-year [2][3] Cost and Expense Management - The company has successfully reduced total expenses by 14.99% to 1.537 billion yuan in the first three quarters of 2024, with an expense ratio of 4.33%, down 1.18 percentage points [3][4] - The single piece cost decreased by 15.06% to 1.89 yuan, contributing to a gross margin of 9.87% [2][3] Market Position and Outlook - The company has increased its market share by 0.61 percentage points in the first three quarters of 2024, outperforming the industry growth rate [2][6] - Future revenue projections for 2024-2026 are 49.631 billion yuan, 54.210 billion yuan, and 58.936 billion yuan respectively, with net profits expected to be 2.035 billion yuan, 2.343 billion yuan, and 2.694 billion yuan [7][9]

Group 1 - A new company, Jiaxing Yunhe Technology Co., Ltd., has been established with a registered capital of 2 million yuan [1] - The legal representative of the company is Yan Jun [1] - The business scope includes logistics, machinery equipment leasing, IoT technology research and development, AI public service platform consulting, software development and sales, internet sales, sports event planning, and sales agency [1] Group 2 - The company is wholly owned by Yunda Co., Ltd. through indirect shareholding [1]

Investment Rating - The report maintains a "Buy" rating for the company [1][2][5]. Core Views - The company reported a significant increase in net profit excluding non-recurring items, driven by continuous improvement in express delivery business costs. However, the net profit was below expectations due to asset impairment losses [1]. - The express delivery industry is experiencing a slowdown in volume growth, with a year-on-year increase of 20.0% in Q3 2024, down from 25.2% in Q1 and 21.3% in Q2. The average price per item has decreased by 6.5% year-on-year, but the decline is narrowing due to price increases in certain regions [2]. - The company's gross margin for Q3 2024 was 8.5%, a slight year-on-year decrease, but the decline is narrowing compared to previous quarters. The company has room for cost reduction and capacity utilization is expected to improve [2][12]. Financial Performance Summary - For Q3 2024, the company reported revenue of 12.26 billion RMB, a year-on-year increase of 8.84%, and a net profit of 367 million RMB, up 24.3% year-on-year. The net profit excluding non-recurring items was 340 million RMB, reflecting an 88.51% increase year-on-year [1]. - The company’s revenue and net profit for the first three quarters of 2024 were 35.51 billion RMB and 1.41 billion RMB, respectively, with year-on-year increases of 8.14% and 20.8% [1]. - The report forecasts net profits for 2024, 2025, and 2026 to be 2.1 billion RMB, 2.56 billion RMB, and 3.0 billion RMB, respectively, with corresponding year-on-year growth rates of 29.3%, 21.9%, and 17.3% [2][12]. Valuation Metrics - The target price for the company is set at 12.18 RMB, with a current closing price of 8.41 RMB, indicating potential upside [6]. - The report provides a price-to-earnings (PE) ratio forecast of 13.8x for 2025, with an expected earnings per share (EPS) of 0.88 RMB [2][12].

Investment Rating - The report assigns a "Recommended" rating to the company, indicating an expected outperformance of the benchmark index by 10%-20% over the next six months [1][4]. Core Insights - The company reported a Q3 net profit of 370 million yuan, representing a year-on-year increase of 24.3%. The revenue for Q3 was 12.26 billion yuan, up 8.8% year-on-year, with a non-recurring net profit of 34 million yuan, reflecting an 88.4% increase [1][2]. - For the first three quarters, the company achieved a total revenue of 35.51 billion yuan, a year-on-year growth of 8.1%, and a net profit of 1.41 billion yuan, also up 20.9% year-on-year [1][3]. - The report highlights the company's continuous improvement in operational efficiency, with a significant reduction in costs and expenses, contributing to enhanced profitability [2][3]. Financial Performance Summary - Q3 revenue: 12.26 billion yuan, up 8.8% YoY; Q3 net profit: 370 million yuan, up 24.3% YoY; Q3 non-recurring net profit: 34 million yuan, up 88.4% YoY [1][2]. - For the first three quarters, total revenue reached 35.51 billion yuan, with a net profit of 1.41 billion yuan, both showing positive growth [1][3]. - The company’s single-ticket revenue for Q3 was 1.99 yuan, down 10.4% YoY, while the single-ticket non-recurring net profit increased by 52% YoY to 0.056 yuan [2][3]. Business Volume and Market Share - The company’s business volume growth for the first three quarters was 27.7%, outperforming the industry average of 22.0% [1][2]. - In Q3, the company maintained a market share of 13.8%, ranking second in the industry, with competitors showing varied growth rates [1][2]. Profitability Forecast - The report adjusts the profit forecast for 2024-2026, estimating net profits of 1.96 billion, 2.38 billion, and 2.78 billion yuan respectively, with corresponding EPS of 0.68, 0.82, and 0.96 yuan [2][3]. - The target price for the company is set at 10.69 yuan, indicating a potential upside of approximately 27% from the current price of 8.41 yuan [2][4].

证券时报e公司讯，韵达股份10月29日接待机构调研时表示，前三季度，公司核心运营成本及四项费用 管控均保持下降趋势。 预计核心运营成本还有一定下降空间：一是在核心产能构建上公司仍具先发优势，产能利用率可进一步 提升，所以在固定资产折旧和可变成本摊销方面仍有下降空间；二是随着公司数字化能力全面赋能、优 化精细管理，对于货量预测、路由优化、车线数量、装载率提升、现场排班、工时管理、人效提升等经 营管控方面，仍具有挖降空间；三是公司充分发挥集包仓、网格仓、末端驿站、无人车等基础设施优 势，在揽派两端经营成本方面仍然具有下降空间。 费用方面，2024年前三季度四项费用同比下降近2.71亿元，预计费用的下降趋势还能持续：一是随着经 营性现金流提升、公司偿债规模逐步扩大，公司明年的有息负债规模会出现下降，利息支出同比也会实 现下降；二是当前市场的资金成本持续下降，公司也会把握融资窗口，使用低息的资金置换高息债务， 改善财务费用；三是公司还将持续进行部分资产处置。 ...