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。 重要内容提示： 1、公司 2025 年第 1 期 A 股回购股份方案，回购股份资金总额由"不低于人民币 5 亿 元且不超过人民币 10 亿元"调整为"不低于人民币 15 亿元且不超过人民币 30 亿元"，回 购实施期限延长至本次董事会审议通过调整回购方案之日起 12 个月止，即回购实施期限自 2025 年 4 月 28 日起至 2026 年 10 月 29 日止。 2、除调整回购股份资金总额及延长实施期限外，2025 年第 1 期 A 股回购股份方案的其 他内容不发生变化。 证券代码：002352 证券简称：顺丰控股 公告编号：2025-081 顺丰控股股份有限公司 关于调整 2025 年第 1 期 A 股回购股份方案的公告 根据《公司法》《证券法》《上市公司股份回购规则》《深圳证券交易所上 市公司自律监管指引第 9 号——回购股份》等法律法规和规范性文件及《公司章 程》的有关规定，顺丰控股股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日召开的第六届董事会第二十五次会议审议通过了《关于调整 20 ...

证券代码：002352 证券简称：顺丰控股 公告编号：2025-083 顺丰控股股份有限公司 关于 2022 年 A 股股票期权激励计划预留授予股票期权 第三个行权期行权条件成就的公告 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。 重要提示： 2、本次股票期权行权采用自主行权模式。 3、本次行权事宜需在中国证券登记结算有限责任公司深圳分公司的手续办 理结束后方可行权，届时将另行公告，敬请投资者注意。 顺丰控股股份有限公司（以下简称"公司"或"顺丰控股"）于 2025 年 10 月 30 日召开第六届董事会第二十五次会议及第六届监事会第十九次会议审议通 过了《关于 2022 年 A 股股票期权激励计划预留授予股票期权第三个行权期行权 条件成就的议案》，根据《公司 2022 年股票期权激励计划（草案）》（以下简称"《激 励计划（草案）》"或"本次激励计划"）的相关规定，董事会认为公司 2022 年 A 股股票期权激励计划预留授予股票期权第三个行权期行权条件已经成就，现将有 关事项说明如下： 一、本次激励计划已履行的相关审批程序 1、2022 年 4 月 28 日， ...

顺丰控股股份有限公司 关于注销 2022 年 A 股股票期权激励计划部分股票期权的公告 证券代码：002352 证券简称：顺丰控股 公告编号：2025-082 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。 顺丰控股股份有限公司（以下简称"公司"或"顺丰控股"）于 2025 年 10 月 30 日召开第六届董事会第二十五次会议审议通过了《关于注销 2022 年 A 股 股票期权激励计划部分股票期权的议案》，根据《公司 2022 年股票期权激励计 划（草案）》（以下简称"《激励计划（草案）》"或"本次激励计划"）的相 关规定和公司 2022 年第二次临时股东大会的授权，公司对 2022 年 A 股股票期 权激励计划所涉及已获授但尚未行权的股票期权 17.5062 万份进行注销，现将有 关事项说明如下： 一、本次激励计划已履行的审批程序和信息披露情况 1、2022 年 4 月 28 日，公司召开第五届董事会第二十四次会议，会议审议 通过《公司 2022 年股票期权激励计划（草案）及其摘要》《公司 2022 年股票期 权激励计划实施考核管理办法》《关于提请公司股东大会 ...

2025 年 10 月 | . | 14 | | --- | --- | | | A | | 一、释义 . | | --- | | 二、声明 | | 三、基本假设 . | | 四、独立财务顾问意见 . ਜੋ | 证券简称：顺丰控股 证券代码：002352 上海荣正企业咨询服务（集团）股份有限公司 关于 顺丰控股股份有限公司 2022 年 A 股股票期权激励计划预留授予股票 期权第三个行权期行权条件成就相关事项 之 独立财务顾问报告 2、本计划中部分合计数与各明细数直接相加之和在尾数上如有差异，是由于四舍五入所造成。 1 二、声明 本独立财务顾问对本报告特作如下声明： （一）本独立财务顾问报告所依据的文件、材料由顺丰控股提供，本计划所 涉及的各方已向独立财务顾问保证：所提供的出具本独立财务顾问报告所依据的 所有文件和材料合法、真实、准确、完整、及时，不存在任何遗漏、虚假或误导 性陈述，并对其合法性、真实性、准确性、完整性、及时性负责。本独立财务顾 问不承担由此引起的任何风险责任。 （二）本独立财务顾问仅就本次股票期权激励计划对顺丰控股股东是否公平、 合理，对股东的权益和上市公司持续经营的影响发表意见，不构成对顺 ...

上海澄明则正律师事务所 关于顺丰控股股份有限公司 2022 年 A 股股票期权激励计划 注销部分股票期权 及预留授予股票期权第三个行权期 行权条件成就的 上海澄明则正律师事务所 法律意见书 法律意见书 上海澄明则正律师事务所（以下简称"本所"）接受顺丰控股股份有限公 司（以下简称"顺丰控股"或"公司"）的委托，担任公司2022年A股股票期权 激励计划（以下简称"本次激励计划"）的特聘专项法律顾问。本所律师根据《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》"）、《上市公司股权激励管理办法》（以下简称"《管 理办法》"）、《深圳证券交易所上市公司自律监管指南第1号——业务办理》 （以下简称"《自律监管指南1号》"）等有关法律、法规和规范性文件的规定 以及《顺丰控股股份有限公司章程》（以下简称"《公司章程》"），按照律师 行业公认的业务标准、道德规范和勤勉尽责精神，就《顺丰控股股份有限公司2022 年股票期权激励计划》（以下简称"《激励计划》"）注销部分股票期权（以下 简称"本次注销"）及预留授予股票期权第三个行权期行权条件成就（以下简称 "本次行权"）相关事 ...

Core Insights - SF Holding reported a revenue of 78.403 billion yuan for Q3 2025, representing a year-on-year growth of 8.21% [1] - The net profit attributable to shareholders for Q3 2025 was 2.571 billion yuan, showing a decline of 8.53% year-on-year [1] - Basic earnings per share for Q3 2025 stood at 0.51 yuan [1] Financial Performance - For the first three quarters of 2025, SF Holding achieved a total revenue of 225.261 billion yuan, reflecting a year-on-year increase of 8.89% [1] - The net profit attributable to shareholders for the first three quarters was 8.308 billion yuan, which is a year-on-year growth of 9.07% [1] - Basic earnings per share for the first three quarters were reported at 1.67 yuan [1]

Group 1 - The core point of the article is that SF Holding reported its third-quarter revenue and net profit figures, showing a year-on-year revenue growth but a decline in net profit [1] Group 2 - In the third quarter, the company's revenue reached 78.403 billion yuan, representing an 8.21% increase year-on-year [1] - The net profit for the third quarter was 2.571 billion yuan, which is a decrease of 8.53% compared to the same period last year [1] - For the first three quarters, the total revenue amounted to 225.261 billion yuan, reflecting an 8.89% year-on-year growth [1] - The net profit for the first three quarters was 8.308 billion yuan, showing a year-on-year increase of 9.07% [1]

Revenue and Profitability - Total revenue for Q3 2025 reached RMB 78.4 billion, an increase of 8.2% year-on-year[13] - Net profit attributable to shareholders was RMB 2.57 billion, a decrease of 8.5% compared to the same period last year[14] - The company's operating revenue reached CNY 225.26 billion, an increase of 8.89% compared to the same period last year[17] - The gross profit for Q3 2025 was RMB 9.79 billion, a decline of 4.4% year-on-year[14] - The company's net profit for the current period was RMB 8,716,349 thousand, compared to RMB 7,673,004 thousand in the previous period, reflecting a growth of about 13.6%[38] - The company reported a profit before tax of RMB 10,870,005 thousand, compared to RMB 10,147,558 thousand in the previous period, an increase of approximately 7.1%[38] - Basic and diluted earnings per share were both 1.67 yuan, up from 1.58 yuan in the previous period, reflecting a growth of about 5.7%[39] Customer and Market Growth - The number of active monthly billing customers exceeded 2.4 million, with individual members surpassing 780 million[12] - International express and cross-border e-commerce logistics revenue increased by 27% year-on-year, accelerating from the first half of the year[13] - The logistics revenue in sectors such as industrial equipment, high-tech communications, automotive, and consumer goods grew by over 25% year-on-year[12] Cash Flow and Investments - The operating cash flow for the year-to-date period was RMB 19.42 billion, down 13.91% year-on-year[7] - The company reported a net cash flow from operating activities of CNY 19.42 billion, a decrease of 13.91% compared to the previous year[17] - The net cash flow from investing activities was -19,173,669 thousand yuan, an improvement from -23,545,605 thousand yuan in the previous period[41] - The net cash flow from financing activities was -14,375,963 thousand yuan, compared to -18,163,634 thousand yuan, showing a reduction in cash outflow[41] - The company received 72,255,072 thousand yuan in cash related to investment activities, significantly higher than 55,211,564 thousand yuan in the previous period, indicating a growth of about 30.9%[40] Assets and Liabilities - The company’s total assets as of September 30, 2025, were RMB 217.93 billion, an increase of 1.92% from the end of the previous year[7] - The total liabilities decreased to RMB 108,950,112 thousand from RMB 111,488,992 thousand, indicating a reduction of approximately 2.3%[37] - The company's cash and cash equivalents decreased to RMB 19,392,730 thousand from RMB 33,936,101 thousand, a decline of about 42.9%[36] - The company's long-term investments increased to RMB 7,216,771 thousand from RMB 6,203,642 thousand, showing a growth of approximately 16.3%[36] Shareholder and Equity Information - The total number of common shareholders at the end of the reporting period is 269,654, with 269,570 being A-share shareholders[25] - The largest shareholder, Shenzhen Mingde Holdings Development Co., Ltd., holds 46.87% of shares, totaling 2,361,920,119 shares[25] - The company plans to repurchase A-shares with a total fund of no less than RMB 5 billion and no more than RMB 10 billion, with a maximum repurchase price of RMB 60 per share[27] - As of September 30, 2025, the company has repurchased 7,432,648 shares for approximately RMB 299,989,306.65, representing 0.15% of the total share capital[27] - The repurchase plan has been adjusted to a total fund of no less than RMB 15 billion and no more than RMB 30 billion, with the implementation period extended to October 29, 2026[28] Strategic Initiatives - The company continues to implement its "Activate Operations" strategy to enhance market expansion and operational efficiency[11] - The company aims to achieve a year-on-year net profit attributable to shareholders that remains stable by Q4 2025, with a focus on sustainable growth[15] - As of September 30, 2025, approximately 90.40% of the funds raised from convertible bonds have been utilized for enhancing international logistics capabilities and R&D[23] - The company plans to allocate 30% of the raised funds to strengthen international logistics capabilities, with CNY 804.32 million earmarked for this purpose[20] Employee Stock Ownership Plan - The "Common Growth" employee stock ownership plan involves up to 20 million A-shares, accounting for approximately 4% of the current total share capital[29] - The stock ownership plan will grant a maximum of 18 million virtual share units annually, with a total of no more than 7,186 participants in the first grant[30] - The initial grant price for the virtual share units is set at RMB 35 per unit[30] - The first grant date for the stock ownership plan is September 15, 2025[30] - Mingde Holdings has transferred 20 million A-shares to the stock ownership plan's account to facilitate its implementation[31] Financing Activities - The company issued a super short-term financing bond with a scale of RMB 1 billion through its wholly-owned subsidiary, Tyson Holdings, on August 7, 2025[32][33]

Core Points - The Shenzhen Leading Index (399653) closed at 3133.91 points, down 0.66%, with a trading volume of 143.46 billion yuan and a turnover rate of 1.42% [1] - Among the index constituents, 11 stocks rose while 39 stocks fell, with Huali Group leading the gainers at 2.75% and Ruida Futures leading the decliners at 7.39% [1] Index Constituents Summary - The top ten constituents of the Shenzhen Leading Index include: - Ningde Times (21.12% weight) at 398.29 yuan, down 0.43%, with a market cap of 181.73 billion yuan [1] - Midea Group (7.29% weight) at 75.30 yuan, up 1.21%, with a market cap of 57.86 billion yuan [1] - Zhongji Xuchuang (7.12% weight) at 514.74 yuan, down 1.15%, with a market cap of 57.19 billion yuan [1] - Luxshare Precision (6.18% weight) at 65.04 yuan, down 3.33%, with a market cap of 47.36 billion yuan [1] - BYD (5.69% weight) at 103.61 yuan, down 0.87%, with a market cap of 94.46 billion yuan [1] - Sungrow Power Supply (4.83% weight) at 194.68 yuan, up 1.67%, with a market cap of 40.36 billion yuan [1] - Wrigley (4.50% weight) at 118.47 yuan, down 0.30%, with a market cap of 45.99 billion yuan [1] - Gree Electric Appliances (3.53% weight) at 40.47 yuan, down 0.54%, with a market cap of 22.67 billion yuan [1] - ZTE Corporation (2.97% weight) at 44.83 yuan, down 2.97%, with a market cap of 21.44 billion yuan [1] - Xianlefang A (2.81% weight) at 4.09 yuan, up 0.49%, with a market cap of 15.30 billion yuan [1] Capital Flow Summary - The net outflow of main funds from the Shenzhen Leading Index constituents totaled 8.84 billion yuan, while retail investors saw a net inflow of 6.18 billion yuan [3] - Notable capital flows include: - Ningde Times with a net inflow of 94.67 million yuan from main funds and a net outflow of 38.40 million yuan from retail investors [3] - SF Holding with a net inflow of 93.43 million yuan from main funds and a net outflow of 61.70 million yuan from retail investors [3] - Other companies like Fenzhong Media and Luzhou Laojiao also experienced varying degrees of net inflows and outflows [3]

Market Overview - The logistics sector experienced a decline of 0.21% on October 30, with Furan De leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable gainers in the logistics sector included: - Pulutong (002769) with a closing price of 10.04, up 9.97% and a trading volume of 274,600 shares [1] - China Foreign Trade (601598) closed at 6.68, up 7.40% with a trading volume of 779,900 shares [1] - Yongtaiyun (001228) closed at 27.88, up 3.18% with a trading volume of 74,700 shares [1] - Major decliners included: - Furan De (605050) closed at 14.34, down 6.76% with a trading volume of 276,000 shares [2] - Longzhou Co. (002682) closed at 4.81, down 4.56% with a trading volume of 775,200 shares [2] - Guanghui Logistics (600603) closed at 7.86, down 3.91% with a trading volume of 263,900 shares [2] Capital Flow - The logistics sector saw a net outflow of 18.6 million yuan from institutional investors, while retail investors experienced a net outflow of 17.6 million yuan [2] - Conversely, speculative funds recorded a net inflow of 36.2 million yuan [2] Individual Stock Capital Flow - China Foreign Trade (601598) had a net inflow of 93.62 million yuan from institutional investors, while retail investors saw a net outflow of 80.52 million yuan [3] - Pulutong (002769) experienced a net inflow of 86.91 million yuan from institutional investors, with retail investors facing a net outflow of 54.94 million yuan [3] - Yongtaiyun (001228) had a net inflow of 14.84 million yuan from institutional investors, while retail investors saw a net outflow of 22.66 million yuan [3]