智通财经APP讯，顺丰控股(06936)发布公告，于2026年1月19日，该公司斥资5234.3万元回购135.5万股 A股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 順豐控股股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期： 2026年1月19日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 002352 | 說明 | A股（於深圳交易所上市） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包 ...

当然，这项服务也有些小要求。目前，自助寄件柜仅支持顺丰到付件，费用以实际计价为准，且投 递完成后无法取消，寄件前务必确认物品符合顺丰快递寄件标准，避免后续产生纠纷。如果寄件过程中 遇到操作难题，可按照柜机机身上的指引拨打顺丰客服电话95333咨询，也能直接向现场的地铁工作人 员求助。 出门赶地铁，却因包里装了防晒喷雾、水果刀等禁限带物品被拦在安检口？丢了可惜、折返耽误行 程的窘境，如今在杭州地铁有了新解法！近日，杭州地铁试点上线"顺丰自助寄件柜"服务。当乘客因携 带禁限带物品无法进站时，符合快递寄件标准的物品，在安检区域即可就地寄出，再也不用纠结"带不 走、舍不得"的难题。 那么，哪些物品属于地铁"禁限带"范围呢？记者了解到，常见的主要是两类：一是易燃物品，比如 大瓶的防晒喷雾、酒精含量高的消毒液、过量白酒等；二是尖锐刀具、大型工具等可能伤人或损坏设施 的物品。 此次试点的自助寄件柜，特意选在了凤起路、武林门、钱江路等14个人流密集的核心车站，并全设 置在进站安检区域。也就是说，一旦被查出禁限带物品，转身就能办理寄件，省去来回折腾的麻烦。 更赞的是，这项服务全程自助操作，简单又高效。市民朋友只需把符合快递寄件 ...

Summary of Conference Call Records Industry Overview: Express Delivery Sector Key Points - The express delivery industry is undergoing significant changes due to upgraded anti-involution policies and the promotion of a unified national market, which has led to price increases in several provinces. This has resulted in a rise in per-package revenue for major express companies, supporting high-quality industry development [1][3]. - The Supreme People's Court has strengthened social security payment constraints, increasing compliance costs for express companies. This may lead companies to pass on costs through price increases, aligning with anti-involution policies to promote healthy industry growth [1][3]. - Despite a slowdown in business volume growth due to rising costs for low-priced e-commerce shipments, the value per package has increased, with an expected 8% year-on-year growth in express delivery volume by 2026 [1][4]. Company-Specific Insights Major Express Companies 1. **YTO Express (圆通速递)** - Capital expenditures in the first three quarters of 2025 focused on land acquisition in core areas, upgrading transfer center equipment, and renewing transportation equipment to enhance processing efficiency and market share [1][9]. - Investment in automation includes 761 sets of sorting equipment and nearly 3,000 unmanned delivery vehicles, the largest scale in the industry [8]. - The company has improved operational efficiency, with a 7% increase in per-vehicle package count and a 13% increase in per capita efficiency, leading to a reduction in per-package transfer costs by 0.07 yuan [11]. 2. **SF Express (顺丰控股)** - The company has implemented the "Activate Operations" strategy, achieving a 33.4% year-on-year growth in logistics business volume in Q3, significantly outperforming the industry [2][16]. - Despite short-term profit fluctuations, the company is shifting from scale-driven to value-driven strategies, with a strategic shareholding agreement with Jitu Express to expand international business [16][17]. 3. **Shentong Express (申通快递)** - The company has completed 179 capacity enhancement projects from 2022 to 2024, with daily throughput capacity expected to exceed 9 million packages by the end of 2025 [12]. - The acquisition of Daniao Logistics has strengthened its core competitiveness in reverse logistics, improving business volume and per-package revenue [13][14]. 4. **Yunda Express (韵达股份)** - The company is focusing on optimizing its core express business and has seen a recent increase in per-package revenue despite challenges from intense price competition [15]. Cost Control Trends - The express delivery industry continues to see opportunities for cost reduction across the entire logistics chain, including collection, transfer, and delivery [5]. - Major companies are optimizing routes, increasing vehicle loading rates, and improving sorting efficiency to lower transfer costs. For instance, the average daily package volume for major companies has reached over 65 million, with transfer costs dropping to approximately 0.6 yuan per package [5]. Regulatory and Market Dynamics - The regulatory environment is playing a crucial role in curbing vicious price competition, with new laws providing a solid legal basis for oversight. The anti-involution policies are expected to prevent a return to the severe price wars seen in early 2025 [3][4]. - The industry is moving towards value competition, focusing on cost reduction and quality improvement as key strategies for gaining market share [4]. Conclusion - The express delivery sector is poised for growth, driven by regulatory support and strategic initiatives from leading companies. The focus on automation, cost efficiency, and strategic partnerships will be critical for navigating the evolving market landscape.

Industry Overview - China's foreign trade imports and exports achieved a growth of 3.8% in 2025, marking the ninth consecutive year of growth, with total trade reaching 45.47 trillion yuan, a historical high [1] - Exports amounted to 26.99 trillion yuan, increasing by 6.1%, while imports were 18.48 trillion yuan, growing by 0.5% [1] Trade with Belt and Road Countries - Exports to countries involved in the Belt and Road Initiative grew by 11.2%, contributing 5.4 percentage points to overall export growth [2] - ASEAN has remained China's largest export market for three consecutive years, with emerging markets in Latin America, the Middle East, Central Asia, and Africa showing faster growth rates than the overall average [2] Automotive Industry - In 2025, China's automotive production and sales reached 34.53 million and 34.40 million units respectively, setting new historical records [3] - New energy vehicles accounted for over 16 million units sold, with domestic new car sales exceeding 50% of the market share [3] - Automotive exports surpassed 7 million units, marking a significant increase [3] E-commerce Developments - TikTok Shop launched a "local hosting" model in Europe, allowing merchants to stock goods in local warehouses, enhancing logistics efficiency [5] - Alibaba's international platform saw a 40% year-on-year increase in overseas orders for construction machinery [6] Logistics and Delivery - SF Express and Jitu Express announced a strategic shareholding agreement worth 8.3 billion HKD to enhance their global logistics network [7][8] - Temu introduced a local seller program in the UAE to improve delivery efficiency and expand product offerings [9] Technology and Innovation - WeChat mini-programs recorded over 5 billion uses for cross-border and overseas users in 2025, with significant growth in payment transactions in countries like Malaysia, New Zealand, and the UK [10] - Xiaopeng Motors plans to establish a localized supply chain team in Europe and Southeast Asia to enhance operational efficiency and support its global strategy [11] - WeRide announced that its global Robotaxi fleet has reached 1,023 vehicles, with commercial operations in cities like Guangzhou, Beijing, and Abu Dhabi [12] - Google introduced a Universal Commerce Protocol (UCP) aimed at streamlining the AI shopping experience across platforms [13]

A股 Market Updates - On January 15, multiple A-share companies released their performance forecasts for 2025, with many expecting significant profit increases. SAIC Motor Corporation anticipates a net profit growth of up to 558%, while companies like Shengnuo Biological and Zhenghai Magnetic Materials expect increases exceeding 200% [2] - Jiamei Packaging announced that its stock has triggered redemption clauses due to its closing price being above 130% of the conversion price for 15 out of the last 30 trading days [2] - ST Chengchang and Zhizhi New Materials announced their resumption of trading after completing investigations into recent abnormal stock price fluctuations [2] - ST Aowei reported that its stock closed at 0.99 CNY per share, warning that if it remains below 1 CNY for 20 consecutive trading days, it may face delisting from the Shenzhen Stock Exchange [2] Logistics and E-commerce - SF Holding and Jitu Express announced a strategic mutual shareholding agreement, involving an investment transaction amounting to nearly 8.3 billion HKD [3] - Ctrip is under investigation by the State Administration for Market Regulation, leading to a significant drop in its stock price, with a 6.49% decline on the day of the announcement and a further 20% drop the following day, resulting in a market value loss exceeding 100 billion CNY [3] Financial Data - In 2025, the total number of new A-share accounts reached 27.44 million, a 10% increase year-on-year, marking a three-year high, with total A-share investors exceeding 250 million [4] - The People's Bank of China reported that by the end of 2025, the social financing scale reached 442.12 trillion CNY, growing by 8.3% year-on-year, while the RMB loan balance was 271.91 trillion CNY, up 6.4% [5] - The China Securities Regulatory Commission approved an adjustment to the margin ratio for financing, increasing the minimum margin requirement from 80% to 100%, effective January 19, 2026 [5] Gold Reserves - As of the end of November 2025, non-U.S. countries' official gold reserves exceeded 900 million troy ounces, valued at approximately 3.82 trillion USD [6] Infrastructure and Technology - The State Grid Corporation announced that its fixed asset investment is expected to reach 4 trillion CNY during the 14th Five-Year Plan, a 40% increase from the previous plan [7] - Alibaba's Qianwen App has integrated with various Alibaba ecosystem services, launching over 400 AI functionalities to enhance user experience in daily tasks [7] - Shanghai's new action plan aims to implement L4 autonomous driving technology in various scenarios by 2027, targeting over 6 million passenger trips and 800,000 TEU in freight transport [7] Housing Policy - A joint announcement from the Ministry of Finance, State Taxation Administration, and Ministry of Housing and Urban-Rural Development extended personal income tax policies supporting housing purchases from January 1, 2026, to December 31, 2027 [8] Trade Performance - China's total foreign trade in 2025 reached 45.47 trillion CNY, a 3.8% increase, setting a historical record and maintaining its position as the world's largest goods trading nation [8]

长江商报消息 ●长江商报记者 黄聪 顺丰控股（002352.SZ、06936.HK）和极兔速递（01519.HK）这两家物流行业龙头，今后的合作将更加 紧密。 1月15日，顺丰控股与极兔速递联合发布公告称，双方宣布达成一项战略性的相互持股协议，将互为对 方增发新股，投资交易金额近83亿港元（按当前汇率计算约合人民币74亿元）。 长江商报记者统计发现，2025年前11个月，顺丰控股供应链及国际业务营业收入达734.2亿元，较上年 同期713.63亿元增长约3%，与整体业务相比，公司国际业务增速相对较慢。 武汉一家物流企业相关负责人向长江商报记者表示，从顺丰控股角度看，通过投资极兔可以分享其在全 球市场的增长收益，同时借助极兔速递的资源和优势提升自身国际业务和国内业务的竞争力。 9个月总件量增33.4% 值得关注的是，这并非两家企业首次牵手。早在2023年，极兔速递赴港上市前，顺丰控股就通过投资持 有极兔1.54%股份。 同年，顺丰控股还将旗下丰网速运100%股权，以11.83亿元价格出售给极兔速递，为其注入关键资源。 与极兔速递拟互认股份 1月15日，顺丰控股与极兔速递联合发布公告称，双方宣布达成一项战略性的相 ...

Group 1: Institutional Research Activity - A total of 316 listed companies have disclosed institutional investor research records this year [1][2] - Xiangyu Medical received the highest number of institutional inquiries, totaling 208 [2][3] - Multiple prominent institutions have intensively researched SF Holding, with 35 institutions focusing on it this year [4][6] Group 2: Key Companies and Their Focus Areas - The top ten A-share companies by the number of institutional inquiries include Xiangyu Medical, Haitan Ruisheng, and Aipeng Medical, with inquiries ranging from 132 to 208 [3] - SF Holding has been a focal point for several well-known fund companies, including Huaxia Fund and E Fund, indicating strong interest in its strategic partnership with Jitu Express [4][6] Group 3: Strategic Developments - SF Holding and Jitu Express announced a strategic mutual shareholding agreement with an investment amount of HKD 8.3 billion [8] - The collaboration between SF Holding and Jitu Express has expanded across various levels, enhancing service stability and customer satisfaction in both domestic and international markets [7] Group 4: Brain-Computer Interface Focus - The brain-computer interface sector has gained significant market attention, with companies like Xiangyu Medical and Aipeng Medical actively developing products in this area [10][11] - Xiangyu Medical plans to upgrade 27 core products by mid-2026 and launch nearly 100 brain-computer interface products by the end of 2026 [10] - Aipeng Medical is exploring investments in brain-computer interface technologies, focusing on clinical applications for various mental health conditions [11]

Core Insights - Institutional enthusiasm for researching listed companies remains high, with 316 companies disclosing investor research records this year [1][2] - The brain-computer interface sector has seen increased attention from institutional investors, with companies like Xiangyu Medical and Aipeng Medical leading in research inquiries [11][12] Group 1: Institutional Research Activity - A total of 316 listed companies have disclosed institutional investor research records this year, with Xiangyu Medical receiving the highest number of inquiries at 208 [2][3] - Other companies with significant institutional interest include Haitan Ruisheng (207 inquiries), Aipeng Medical (142 inquiries), and Shiji Technology (132 inquiries) [3] - Notably, multiple prominent funds have shown concentrated interest in SF Holding, with 35 institutions conducting research on the company [5][6] Group 2: SF Holding and Strategic Partnerships - SF Holding and Jitu Express announced a strategic mutual shareholding agreement on January 15, with an investment transaction amounting to HKD 8.3 billion [9] - The partnership aims to enhance operational synergies, utilizing SF's delivery network in domestic markets and Jitu's established networks in international markets like the Philippines and Saudi Arabia [8] - SF Holding's stock price was reported at CNY 38.81 per share, with a market capitalization of CNY 194.1 billion as of January 16 [10] Group 3: Brain-Computer Interface Developments - Xiangyu Medical plans to upgrade 27 core products by June 2026, integrating brain-computer interface technology to transform passive rehabilitation devices into active ones [11] - Aipeng Medical is focusing on exploring brain-computer interface investments aligned with its strategic direction, emphasizing research in sensors, electrodes, and clinical applications for mental health disorders [12]

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - SF Express and Jitu Express announced a strategic mutual shareholding agreement worth HKD 8.3 billion, focusing on building a global integrated logistics network to meet the needs of Chinese enterprises going abroad and the new landscape of cross-border e-commerce logistics [3][14] - COSCO Shipping and Peru Post signed a memorandum of cooperation to enhance cross-border e-commerce logistics channels between China and Peru, improving logistics service capabilities and operational efficiency [3][16] - Zhihang released a lightweight eVTOL aircraft named "Bullet," targeting the personal flying vehicle market, while Eastern Airlines Jiangsu will open and restore multiple international and domestic routes during the 2026 Spring Festival [3][17][19] - The tense situation in Iran has led to a rapid increase in risk premiums in the Strait of Hormuz, with VLCC daily earnings doubling to USD 68,000, while sanctions on Venezuela may lead to a redistribution of heavy crude oil shipping capacity [3][24][25] Industry Data Tracking - The Baltic Air Freight Price Index increased month-on-month but decreased year-on-year [4][30] - Domestic express delivery volume increased by 5.00% year-on-year in November 2025, while revenue decreased by 3.70% [4][51] - The average daily number of international flights in the second week of January 2026 was 1,802.29, down 1.15% month-on-month and 1.34% year-on-year [4] - From January 5 to January 11, 2026, the number of freight trucks on national highways reached 55.09 million, a month-on-month increase of 17.3% [4] Investment Recommendations - Recommended investment opportunities in international market expansion for express logistics, specifically in SF Express and Jitu Express [5] - Suggested investment in the airline industry due to increased demand during the Spring Festival, recommending China National Aviation Holding, Southern Airlines, and Eastern Airlines [5] - Suggested attention to the low-altitude economy sector, recommending CITIC Offshore Helicopter [5] - Recommended investment opportunities in oil shipping due to geopolitical conflicts, suggesting China Merchants Energy Shipping [5][28] - Recommended focusing on the equipment and manufacturing export chain, suggesting COSCO Shipping Heavy Industry [5] - Recommended investment opportunities in the highway and railway sector, suggesting Beijing-Shanghai High-Speed Railway [5]