智通财经APP获悉，2月5日，胡润研究院发布《2025胡润中国500强》榜单。榜单显示，中通快递 (02057)价值1070亿元，排名第137位。这是中通自2019年首次上榜《胡润中国500强》后，连续第7年在 榜。 这是胡润研究院连续第二十次发布中国品牌榜，旨在寻找面向中国消费者的最具价值品牌。 这是胡润研究院连续第七次发布"胡润中国500强"，该榜单列出了中国500强非国有企业，按照企业价值 进行排名，上市公司市值按照2025年11月14日的收盘价计算，非上市公司估值参考同行业上市公司或根 据最新一轮融资情况进行估算。榜单显示，今年企业上榜门槛比上一年上升75亿元，达到340亿元（增 长28%）。500强企业的总价值比上一年上涨21万亿元（增长38%），达到77万亿元。 同时，胡润研究院还发布了《2025胡润中国品牌榜》，中通快递与中通快运双双上榜。榜单显示，中通 快递以155亿元的品牌价值位列第91位，中通快运以20亿元的品牌价值位列第443位，历史首次登上该榜 单。 ...

Investors interested in stocks from the Transportation - Services sector have probably already heard of ZTO Express (Cayman) Inc. (ZTO) and RXO (RXO) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revis ...

Core Viewpoint - The Nasdaq Golden Dragon China Index saw an initial increase of 1.21%, indicating positive market sentiment towards Chinese stocks listed in the U.S. [1] Company Performance - NIO experienced a significant rise of 7.4% - Miniso increased by 5.4% - Yum China rose by 3.4% - Li Auto gained 2.8% - ZTO Express, Zai Lab, Bilibili, Baidu, and Kingsoft Cloud all saw increases of over 2% - Alibaba had a modest increase of 0.7% - Pony.ai declined by 1.2% - New Oriental fell by 2.8% [1] ETF Performance - KWEB ETF rose by 1.14% - CQQQ ETF increased by 0.7% - ASHR ETF decreased by 0.1% - ASHS ETF fell by 1.3% [1]

"该评级亦考虑了公司审慎的财务政策，该政策将继续支持其低杠杆、强劲的自由现金流和优异的流动性。特别是，公司与行业伙伴共同投资新业 务板块的策略，将有效减少其业务进一步多元化带来的支出需求，" Wang补充道。 另一方面，为提升效率和扩张带来的持续投资需求带来了执行风险，而长期激烈的市场竞争可能对其定价和盈利能力造成更大压力。这些风险被 公司强劲的信用缓冲、管理业务风险的记录以及政府遏制非理性市场竞争的持续举措所缓解。 评级理据 根据国家邮政局(State Post Bureau)公布的统计数据，中通快递-W是中国业务量最大的快递服务提供商，市场份额长期保持在20%左右。穆迪预期 公司将通过其覆盖全国、拥有超过31,000个网点的网络、强大的品牌认知度以及不断扩展的服务内容，保持其市场领导地位。 久期财经讯，2月4日，穆迪首次授予中通快递(开曼)有限公司(ZTO Express (Cayman) Inc.，简称"中通快递-W"，02057.HK，ZTO.US)"A3"发行人 评级，并授予其拟发行的可转债"A3"高级无抵押评级。评级展望为稳定。 中通快递-W计划将拟发行债券的净募集资金用于再融资及其他一般公司用途 ...

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report On February 3, the overall capital market remained stable; the bond market was mainly fluctuating, with short - term bonds being weak and medium - and long - term bonds being slightly strong; the main indexes of the convertible bond market rose collectively, and most convertible bond issues increased; the yields of U.S. Treasury bonds of different maturities showed divergent trends, and the yields of 10 - year government bonds of major European economies generally increased [1][2]. 3. Summary by Directory 3.1 Bond Market News - **Domestic News**: On February 3, the 2026 Central No. 1 Document was released, proposing reforms in rural collective property rights, support for new rural collective economies, and measures to control village - level debt. The central bank will conduct an 800 billion yuan 3 - month term buy - out reverse repurchase operation on February 4, resulting in a net investment of 100 billion yuan. The central bank Shanghai Head Office emphasized continuous financial reform and opening - up, and promoted free - trade zone financial reform [4][5]. - **International News**: On February 3 (local time), the U.S. House of Representatives passed a government funding bill, and the partial government shutdown is expected to end. However, the U.S. Department of Homeland Security only has funds until February 13, and there is still a risk of a more limited funding shortage [7]. - **Commodities**: On February 3, international crude oil and natural gas futures prices rose. WTI March crude oil futures rose 1.72% to $63.21 per barrel, Brent April crude oil futures rose 1.56% to $67.33 per barrel, COMEX gold futures rose 6.94% to $4975.30 per ounce, and NYMEX natural gas prices rose 3.49% to $3.377 per ounce [8]. 3.2 Capital Market - **Open - Market Operations**: On February 3, the central bank conducted a 7 - day reverse repurchase operation of 105.5 billion yuan at a fixed interest rate of 1.40%. With 402 billion yuan of reverse repurchases maturing on the same day, the net withdrawal of funds was 296.5 billion yuan [10]. - **Funding Rates**: On February 3, the capital market was generally stable. DR001 decreased by 4.76bp to 1.371%, and DR007 increased by 0.66bp to 1.497%. Other funding rates also showed different degrees of change [11][12]. 3.3 Bond Market Dynamics - **Interest - Rate Bonds**: On February 3, the bond market fluctuated, with short - term interest - rate bonds being weak and medium - and long - term bonds being slightly strong. As of 20:00 Beijing time, the yield of the 10 - year Treasury bond active bond 250016 decreased by 0.40bp to 1.8110%, and the yield of the 10 - year China Development Bank bond active bond 250215 remained unchanged at 1.9580%. Multiple bonds were issued on the same day, with different issuance scales, winning bid yields, and multiples [14][15]. - **Credit Bonds**: On February 3, there were no credit bond transactions with a price deviation of more than 10%. Several companies had credit - related announcements, including debt repayment difficulties, litigation, debt restructuring, and issuance cancellations [16][18]. - **Convertible Bonds**: On February 3, the A - share market rose, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rising 1.29%, 2.19%, and 1.86% respectively. The main indexes of the convertible bond market also rose collectively. The trading volume of the convertible bond market was 97.548 billion yuan, an increase of 12.465 billion yuan from the previous trading day. Most convertible bond issues increased. Tomorrow (February 5), Haitian Convertible Bonds will start online subscriptions, and Shangtai Convertible Bonds will be listed [18][19][23]. - **Overseas Bond Markets**: - **U.S. Bond Market**: On February 3, the yields of U.S. Treasury bonds of different maturities showed divergent trends. The 2 - year U.S. Treasury bond yield remained unchanged at 3.57%, and the 10 - year U.S. Treasury bond yield decreased by 1bp to 4.28%. The 10 - year inflation - protected Treasury bond (TIPS) break - even inflation rate increased by 1bp to 2.36% [22][24][25]. - **European Bond Market**: On February 3, the yields of 10 - year government bonds of major European economies generally increased. The 10 - year German government bond yield increased by 2bp to 2.89%, and the yields of 10 - year government bonds of France, Italy, Spain, and the UK increased by 1bp, 1bp, 2bp, and 1bp respectively [26]. - **Chinese - Issued U.S. Dollar Bonds**: As of the close on February 3, the prices of Chinese - issued U.S. dollar bonds showed different degrees of change, with some rising and some falling [28].

智通财经APP获悉，花旗发布研报称，中通快递-W(02057)拟发行15亿美元可换股优先票据同步回购股 份。由于截至2025年9月尚余7亿美元股份回购额度，公司可能于近期业绩发布时重启回购计划。该行认 为，低利率和合理溢价可完全抵销潜在稀释影响，对发行可换股票据看法轻微正面。此外，中通快递公 布2025年初步业绩，包裹量增长13.3%，符合该行预期，营收区间为485-500亿元人民币，毛利介乎 121.5-125.5亿元人民币，两者中位均大致符合该行和市场预期。 ...

花旗发布研报称，中通快递-W(02057)拟发行15亿美元可换股优先票据同步回购股份。由于截至2025年9 月尚余7亿美元股份回购额度，公司可能于近期业绩发布时重启回购计划。该行认为，低利率和合理溢 价可完全抵销潜在稀释影响，对发行可换股票据看法轻微正面。此外，中通快递公布2025年初步业绩， 包裹量增长13.3%，符合该行预期，营收区间为485-500亿元人民币，毛利介乎121.5-125.5亿元人民币， 两者中位均大致符合该行和市场预期。 ...

于票据定价的同时，本公司同意透过一名联席账簿管理人或彼等各自的联属人士(作为本公司的代理人) 在场外私下协商交易中向若干票据购买者购回约 1825.44万股A类普通股(分别占于2026年2月3日已发行 及发行在外股份数目约 2.29%;及转换股份数目约37.66%)(该等交易称为"同步股份购回")。 根据估计所得款项净额约1,404.1百万美元及根据票据可发行的4846.95万股转换股份(不包括调整及补偿 调整)(基于每1000美元本金金额票据32.31万股股份的初始转换率)，预计本公司每股转换股份的净价格 约为28.9692美元。转换股份的总面值为4846.95美元及市值为86.81亿港元，乃基于购买协议日期于香港 联交所每股A类普通股179.10港元的收市价计算。 就票据定价而言，本公司已与一名或多名初始买方及╱或其联属人士及╱或其他金融机构(期权交易对 手)订立限价看涨交易。订立限价看涨交易的限价看涨期权溢价约为7695万美元，占票据本金总额约 5.1%。 智通财经APP讯，中通快递-W(02057)发布公告，于2026年2月4日，本公司(作为发行人)及联席账簿管理 人(作为票据初始买方的代表)。受"条 ...

来源：格隆汇APP 花旗发表报告指，中通快递拟发行15亿美元可换股优先票据同步回购股份。由于截至2025年9月尚余7亿 美元股份回购额度，公司可能于近期业绩发布时重启回购计划。该行认为，低利率和合理溢价可完全抵 销潜在稀释影响，对发行可换股票据看法轻微正面。此外，中通快递公布2025年初步业绩，包裹量增长 13.3%，符合该行预期，营收介乎485亿至500亿元，毛利介乎121.5亿至125.5亿元，两者中位均大致符 合该行和市场预期。该行维持中通快递美股"买入"评级，目标价为22.6美元。 ...

每经AI快讯，中通快递-W(02057.HK)涨近3%，截至发稿，涨2.74%，报184港元，成交额3.21亿港元。 （文章来源：每日经济新闻） ...