STO(SZ:002468) Xin Lang Zheng Quan·2025-10-31 10:28Core Viewpoint - Shentong Express is a leading player in the domestic express delivery industry, with a comprehensive logistics network and strong transportation capabilities. The company is focusing on expanding its product matrix and improving service quality through strategic acquisitions and cost control measures [1][5]. Group 1: Business Performance - In Q3 2025, Shentong Express achieved a revenue of 38.57 billion yuan, ranking third in the industry, behind SF Express and YTO Express, with their revenues being 225.26 billion yuan and 54.16 billion yuan respectively [2]. - The net profit for the same period was 755 million yuan, also ranking third, significantly lower than SF Express's 8.72 billion yuan and YTO Express's 2.84 billion yuan [2]. Group 2: Financial Ratios - As of Q3 2025, Shentong Express had a debt-to-asset ratio of 63.10%, an increase from 61.52% year-on-year, which is higher than the industry average of 48.13% [3]. - The gross profit margin was 5.68%, slightly down from 5.82% year-on-year, and below the industry average of 7.69% [3]. Group 3: Executive Compensation - The chairman, Chen Dejun, received a salary of 1.81 million yuan in 2024, unchanged from the previous year. The general manager, Wang Wenbin, saw an increase in salary to 6.35 million yuan, up by 1.20 million yuan from 2023 [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.36% to 40,700, while the average number of shares held per shareholder increased by 2.81% to 36,100 shares [5]. - The company is expected to see a net profit growth from 1.37 billion yuan in 2025 to 2.29 billion yuan in 2027, with corresponding EPS increasing from 0.89 yuan to 1.50 yuan [5].