信达证券给予德邦股份增持评级，2025年半年报点评：Q2环比扭亏为盈，归母净利润1.21亿元

Group 1 - The core viewpoint of the report is that Cinda Securities has given a "buy" rating to Debon Logistics (603056.SH) based on its stable revenue growth and effective cost management [2] - The express delivery revenue showed a robust growth, with a year-on-year increase of 13.51% in the first half of 2025, excluding the revenue from network integration [2] - The company is experiencing increased transportation costs due to changes in product structure and strategic investments, which has led to a temporary pressure on gross profit margins [2] - The management of period expenses is effective, and the company confirmed asset disposal gains of 0.35 billion yuan [2]