Core Viewpoint - ZTO Express (02057) has seen a significant stock price increase of over 4%, currently trading at 151.4 HKD, with a transaction volume of 421 million HKD, driven by favorable industry developments and policy changes [1] Industry Summary - The "anti-involution" policy has catalyzed positive signals in the express delivery industry, leading to a substantial valuation recovery [1] - In early May, Yiwu's express delivery prices began to show slight recovery, followed by multiple meetings held by the State Post Bureau regarding "anti-involution" in July [1] - Price increases were initiated in early August in South China and in Yiwu by the end of August, with preliminary data indicating a month-on-month price recovery among major e-commerce express companies [1] - Since September, several regions in Central and Northern China have also experienced month-on-month price recovery, suggesting a positive trend as the peak season approaches with Double Eleven [1] Company Summary - Guohai Securities highlighted ZTO Express's significant scale effect and superior single-ticket profitability, which is expected to widen the gap with competitors as product and business structures continue to optimize [1] - The ongoing cost reduction projects across the entire supply chain are anticipated to enhance single-ticket profitability further [1] - In the short term, a strategy focused on balancing volume and price is expected to restore profits and growth, while the long-term outlook remains positive for leading e-commerce express companies due to their strong management capabilities [1]

Core Points - ZTO Express (02057) announced a share repurchase plan, committing to buy back 283,400 shares for a total expenditure of $5.3687 million [1] Group 1 - The company plans to execute the buyback on October 8, 2025 [1]

Core Viewpoint - ZTO Express (02057) announced a share repurchase plan, committing to buy back 283,400 shares for a total expenditure of $5.3687 million on October 8, 2025 [1] Group 1 - The company plans to repurchase shares as part of its capital management strategy [1] - The total amount allocated for the share buyback is approximately $5.37 million [1] - The number of shares to be repurchased is 283,400 [1]

Group 1 - Zhongtong Express-W (02057.HK) announced a share buyback on October 8, 2025, costing $5.3687 million to repurchase 283,400 shares [1] - The buyback price per share ranged from $18.78 to $18.99 [1]

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： 中通快遞（開曼）有限公司（於開曼群島註冊成立以不同投票權控制的有限責任公司） 呈交日期： 2025年10月9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 | 不同投票權架構公司普通股 | 股份類別 | A | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02057 | 說明 | A類普通股 | | | | | | | | 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 | | ...

Core Viewpoint - ZTO Express (02057) announced a share repurchase plan, indicating confidence in its financial health and future growth prospects [1] Group 1 - The company will spend $3.5954 million to repurchase 189,400 shares [1]

第 1 頁 共 11 頁 v 1.1.1 | 3. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | 其他類別 (請註明) | 於香港聯交所上市 (註1) | 否 | | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 未指定 | | | 公司名稱: 中通快遞（開曼）有限公司（於開曼群島註冊成立以不同投票權控制的有限責任公司） | 2. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | B類普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | | 增加 / 減少 (-) | | | | | ...

智通财经APP讯，中通快递-W(02057)发布公告，于2025年10月7日，该公司斥资359.54万美元回购18.94 万股。 ...

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： 中通快遞（開曼）有限公司（於開曼群島註冊成立以不同投票權控制的有限責任公司） FF305 呈交日期： 2025年10月8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 | 不同投票權架構公司普通股 | 股份類別 | A | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02057 | 說明 | A類普通股 | | | | | | | 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 ...

Core Viewpoint - The U.S. stock market showed mixed results with the Dow Jones down 0.14%, while the Nasdaq and S&P 500 reached new closing highs, indicating a divergence in market performance driven by large tech stocks and specific sector movements [1] Group 1: Major Indices Performance - The Dow Jones decreased by 0.14% [1] - The Nasdaq increased by 0.71%, achieving a new closing high [1] - The S&P 500 rose by 0.36%, also reaching a new closing high [1] Group 2: Large Technology Stocks - Tesla's stock surged over 5% [1] - Microsoft and Google both saw increases of over 2% [1] - Nvidia experienced a decline of over 1% [1] - AMD's stock rose over 23% following a chip supply agreement with OpenAI [1] Group 3: Cryptocurrency and Precious Metals - The cryptocurrency sector saw significant gains, with Bitfarms increasing nearly 15% [1] - Hecla Mining rose over 4% and Pan American Silver increased over 2% [1] - Circle and Coinbase both saw increases of over 1% [1] Group 4: Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 1% [1] - NIO surged by 23.01%, and Youdao increased by 7.08% [1] - Other notable gains included Manbang up 4.63%, and Boss Zhipin and WeRide both up to 3.66% [1] - Tiger Brokers and Xpeng both rose at least 2.43% [1] - Yum China and Baidu increased by up to 2.08% [1] - Other companies like EHang, Beike, JD.com, ZTO Express, Autohome, and Miniso saw increases of up to 1.83% [1]