证券代码：002468 证券简称：申通快递 公告编号：2024-068 申通快递股份有限公司 关于增加日常关联交易预计额度的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或者重大遗漏。 一、日常关联交易基本情况 （一）日常关联交易概述 申通快递股份有限公司（以下简称"公司"）分别于2024年8月30日、2024年9月19日召开第 六届董事会第四次会议和2024年第一次临时股东大会，审议通过了《关于调整2024年度日常关联 交易预计的议案》。具体内容详见公司在《中国证券报》《证券日报》《证券时报》《上海证券 报》及巨潮资讯网（www.cninfo.com.cn）上披露的《关于调整2024年度日常关联交易预计的公告》 （公告编号：2024-043）。 公司分别于2024年10月30日、2024年11月15日召开第六届董事会第五次会议和2024年第二次 临时股东大会，审议通过了《关于变更部分日常关联交易实施主体的议案》。具体内容详见公司 在《中国证券报》《证券日报》《证券时报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn） 上披露的《关于变更部分日常关联交 ...

证券代码：002468 证券简称：申通快递 公告编号：2024-066 申通快递股份有限公司 2024 年 11 月经营简报 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或者重大遗漏。 2024年12月20日 根据《深圳证券交易所上市公司自律监管指引第3号—行业信息披露》的有关规定，公司现 披露2024年11月份相关数据信息如下： | 项 目 | 2024年11月 | 同比增长 | | --- | --- | --- | | 快递服务业务收入（亿元） | 45.29 | 14.12% | | 完成业务量（亿票） | 21.82 | 21.13% | | 快递服务单票收入（元） | 2.08 | -5.45% | 上述快递服务单票收入计算如有差异为四舍五入原因所致。上述数据未经审计，与定期报告 披露的数据之间可能存在差异，请以公司定期报告为准。 特此公告。 申通快递股份有限公司董事会 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company is a pioneer in the private express delivery sector, with accelerated market share recovery. It has established a competitive edge through a franchise model and has made significant changes to improve its operations and market position [12][16]. - The industry is experiencing a supply-demand reversal, leading to improved returns. The company is expected to benefit from this trend as it enhances its operational efficiency and market presence [16][104]. - The company is on a growth path characterized by network expansion, market share recovery, cost optimization, and revenue enhancement, with a significant increase in profitability anticipated [16][164]. Summary by Sections Company Overview - The company was founded in 1993 and was one of the first private express delivery companies in China. It quickly expanded through a franchise model, establishing a strong market presence [40]. - The current ownership structure shows that the founders still hold a controlling stake, while Alibaba has a significant minority interest [45][49]. - The business model has evolved from a large franchise system to a mix of direct operations and franchise partnerships, enhancing operational control and efficiency [50]. Industry Supply and Demand - The express delivery industry is at the tail end of a capital cycle, with capital expenditures peaking. This has led to a more stable supply-demand balance, which is expected to improve industry profitability [104][105]. - Demand for express delivery services remains resilient, driven by the growth of e-commerce and the increasing penetration of online shopping in lower-tier cities [119][120]. Future Outlook - The company is expected to see accelerated growth in profitability as it completes its three-year, 10 billion yuan expansion plan. This will enhance its operational capacity and market competitiveness [164][165]. - Short-term prospects include increased capacity and cost reductions, leading to improved profit margins. The company aims to optimize its delivery costs through technological advancements and operational efficiencies [168][173]. - The long-term outlook suggests that the company will continue to benefit from a favorable competitive environment and a focus on differentiated service offerings, which will support revenue growth and market share expansion [177][182]. Profit Forecast and Investment Recommendations - Revenue projections for the company indicate significant growth, with expected revenues of 48.1 billion yuan in 2024, 55.3 billion yuan in 2025, and 61.0 billion yuan in 2026, reflecting year-on-year growth rates of 18%, 15%, and 10% respectively [196]. - The company is projected to achieve a reasonable value of 11.66 yuan per share based on a 14x PE ratio for 2025, maintaining a "Buy" rating [196].

Group 1 - The company approved a guarantee for its subsidiaries to support their business development needs, specifically for project construction [2][4] - The total amount of the guarantee provided by the company is capped at RMB 38 million, which has been approved in a previous shareholders' meeting [2] - The company has applied for a payment guarantee of RMB 14.553 million for its subsidiary Huai'an Zichun from China Minsheng Bank [3][4] Group 2 - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to RMB 261.8 million, representing 29.79% of the company's audited net assets for 2023 [5] - The actual amount of external guarantees utilized is RMB 208.629 million, which is 23.74% of the company's audited net assets for 2023 [5][6] - There are no overdue guarantees or guarantees involved in litigation as of the announcement date [6]

证券代码：002468 证券简称：申通快递 公告编号：2024-065 申通快递股份有限公司 关于为下属子公司提供担保的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或者重大遗漏。 一、担保情况概述 （一）担保事项审议情况 四、累计对外担保数量及逾期担保数量 截止本公告披露日，公司及控股子公司对外担保的总额度为 261,800 万元，占公司 2023 年度 经审计净资产的比例为 29.79%，其中对下属公司担保总额度为 241,800 万元，对合并报表外单位 /个人提供的担保总额度为 20,000 万元；公司及控股子公司实际对外担保的金额为 208,629.43 万 元，占公司 2023 年度经审计净资产的比例为 23.74%，其中对下属公司担保余额为 198,629.43 万 元，对合并报表外单位/个人提供的担保余额为 10,000 万元；公司及控股子公司不存在逾期对外 担保，无涉及诉讼的担保，无因被判决败诉而应承担的担保。 上述担保在公司经股东大会审议通过的担保额度范围内，根据《深圳证券交易所股票上市规 则》的相关规定，本事项无需再次提交公司董事会及股东大会审 ...

根据《深圳证券交易所上市公司自律监管指引第3号—行业信息披露》的有关规定，公司现 披露2024年10月份相关数据信息如下： | 项 目 | 2024年10月 | 同比增长 | | --- | --- | --- | | 快递服务业务收入（亿元） | 44.26 | 24.86% | | 完成业务量（亿票） | 21.86 | 30.35% | | 快递服务单票收入（元） | 2.03 | -3.79% | 证券代码：002468 证券简称：申通快递 公告编号：2024-064 申通快递股份有限公司 2024 年 10 月经营简报 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或者重大遗漏。 上述快递服务单票收入计算如有差异为四舍五入原因所致。上述数据未经审计，与定期报告 披露的数据之间可能存在差异，请以公司定期报告为准。 特此公告。 申通快递股份有限公司董事会 2024年11月20日 ...

北京市金杜律师事务所上海分所 关于申通快递股份有限公司 2024 年第二次临时股东大会 之法律意见书 致：申通快递股份有限公司 北京市金杜律师事务所上海分所（以下简称本所）接受申通快递股份有限公 司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上 市公司股东大会规则（2022 年修订）》（以下简称《股东大会规则》）等中华人民 共和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国香港特别 行政区、中国澳门特别行政区和中国台湾地区）现行有效的法律、行政法规、规 章和规范性文件和现行有效的《申通快递股份有限公司章程》（以下简称《公司 章程》）有关规定，指派律师出席了公司于 2024 年 11 月 15 日召开的 2024 年第 二次临时股东大会（以下简称本次股东大会），并就本次股东大会相关事项出具 本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2023 年第四次临时股东大会审议通过的《公司章程》； 2. 公司于 2024 年 10 月 31 日刊登于深 ...

证券代码：002468 证券简称：申通快递 公告编号：2024-063 申通快递股份有限公司 2024 年第二次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误导性 陈述或者重大遗漏。 特别提示 1、申通快递股份有限公司（以下简称"公司"）于 2024 年 10 月 31 日在《中国证券报》《证 券时报》《证券日报》《上海证券报》和巨潮资讯网（www.cninfo.com.cn）上刊载了《关于召开 2024 年第二次临时股东大会的通知》。 2、本次股东大会无否决或者修改提案的情况。 3、本次股东大会采取现场投票与网络投票相结合的方式。 一、会议召开和出席情况 （一）会议召集人：公司董事会 （六）本次会议的召集、召开和表决程序符合《公司法》《上市公司股东大会规则》等法律、 法规及其他规范性文件的规定。 （七）会议出席情况 1、通过现场和网络投票的股东及股东代表共计 385 人，代表股份 983,149,897 股，占公司有 （二）会议时间 1、现场会议时间：2024 年 11 月 15 日（周五）15 时。 2、网络投票时间：2024 年 11 月 15 日。其中： ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company reported a strong performance in Q3 2024, with revenue reaching 11.92 billion yuan, a year-on-year increase of 16.3%. The net profit attributable to shareholders was 215 million yuan, compared to 2.74 million yuan in the same period last year, indicating significant growth [4][6]. - For the first three quarters of 2024, the company achieved a total revenue of 33.49 billion yuan, up 14.2% year-on-year, and a net profit of 650 million yuan, which is a remarkable increase of 195.2% [4][6]. - The company experienced a 27.9% year-on-year increase in parcel volume in Q3 2024, with market share rising by 0.8 percentage points to 13.5% [4][6]. - The average price per parcel decreased by 5.2% year-on-year to 2.01 yuan, reflecting intensified price competition during the off-peak season [4][6]. - The company has optimized costs significantly, with the cost per parcel dropping to 1.92 yuan, a decrease of 0.24 yuan year-on-year [5][6]. - Cash flow from operating activities improved, reaching 870 million yuan in Q3 2024, a 17.3% increase year-on-year [5][6]. - Management reforms have begun to yield benefits, enhancing operational capabilities and network quality, leading to a positive cycle of volume, cost, and profit [6]. Summary by Sections Financial Performance - In Q3 2024, the company reported revenue of 11.92 billion yuan, a 16.3% increase year-on-year, and a net profit of 215 million yuan, compared to 2.74 million yuan in the previous year [4][6]. - For the first three quarters of 2024, total revenue was 33.49 billion yuan, up 14.2%, with net profit reaching 650 million yuan, a 195.2% increase [4][6]. Operational Metrics - The company achieved a 27.9% increase in parcel volume in Q3 2024, with market share rising to 13.5% [4][6]. - The average price per parcel decreased by 5.2% year-on-year to 2.01 yuan, indicating increased competition [4][6]. Cost Management - The cost per parcel was reduced to 1.92 yuan, a decrease of 0.24 yuan year-on-year, reflecting effective cost optimization [5][6]. - Operating cash flow improved to 870 million yuan, a 17.3% increase year-on-year [5][6]. Management and Strategy - Management reforms are showing positive results, improving operational efficiency and quality, which is expected to enhance profitability further [6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Insights - The company reported a significant increase in performance for Q3 2024, with revenue reaching 33.49 billion yuan, a year-on-year growth of 14.16%. The net profit attributable to shareholders for the first three quarters was 652 million yuan, up 195.18%, with Q3 net profit soaring to 215 million yuan, reflecting a staggering growth of 7760.86% [2][6] Summary by Relevant Sections Financial Performance - For the first three quarters of 2024, the company achieved a revenue of 33.49 billion yuan, a 14.16% increase year-on-year. Q3 revenue was 11.92 billion yuan, growing by 16.31% year-on-year. The net profit attributable to shareholders for the first three quarters was 652 million yuan, marking a 195.18% increase, while Q3 net profit reached 215 million yuan, a remarkable increase of 7760.86% [2][6] Market Position - The company completed a total express delivery volume of 16.11 billion pieces in the first three quarters of 2024, representing a year-on-year growth of 30.8%. The market share increased to 13.02%, up by 0.87 percentage points year-on-year. In Q3 alone, the company handled 5.88 billion pieces, a 27.9% increase year-on-year, with a market share of 13.49%, up 0.39 percentage points from Q2 2024 [6] Cost Management - The company has successfully reduced costs, with the cost per express delivery piece in Q3 2024 at 1.91 yuan, a decrease of approximately 7% year-on-year. The net profit per piece was 0.04 yuan, an increase of 0.04 yuan year-on-year. The cash flow situation improved significantly, with a net cash flow from operating activities of 2.698 billion yuan for the first nine months, a 40.26% increase [6] Earnings Forecast - The company is expected to continue its growth trajectory, with projected revenues of 48.31 billion yuan, 56.01 billion yuan, and 64.05 billion yuan for 2024, 2025, and 2026 respectively, reflecting year-on-year growth rates of 18.05%, 15.94%, and 14.34%. The net profit attributable to shareholders is forecasted to be 915 million yuan, 1.246 billion yuan, and 1.526 billion yuan for the same years, with growth rates of 168.55%, 36.16%, and 22.46% respectively [7][8]