恒通股份：2025年度归母净利润预增61.22%～80.57%，同步推进股份回购及注销

Core Viewpoint - The company, Hengtong Co., Ltd. (603223.SH), is expected to achieve significant growth in its 2025 annual performance, indicating a strong operational quality and commitment to shareholder returns, alongside a new share repurchase plan [1][2]. Group 1: Performance Forecast - The company anticipates a net profit attributable to shareholders of between 250 million to 280 million yuan for 2025, representing a year-on-year increase of 61.22% to 80.57% [1]. - The non-recurring net profit is also projected to be between 250 million to 280 million yuan, with a growth of 63.47% to 83.09% year-on-year [1]. - The expected performance increase is primarily due to the operational commencement of production berths by its wholly-owned subsidiary, Shandong Yulong Port Co., Ltd., leading to a significant rise in port throughput and utilization rates [1]. Group 2: Share Repurchase and Capital Management - The company plans to change the purpose of 8,364,853 repurchased shares from "employee stock ownership plan or equity incentive" to "reducing registered capital," pending shareholder approval [1][2]. - A new share repurchase plan has been announced, with a budget of no less than 80 million yuan and no more than 100 million yuan, at a maximum price of 14.50 yuan per share, aimed at enhancing investor confidence and maintaining shareholder interests [2]. - This repurchase initiative reflects the company's recognition of its future development prospects and intrinsic value, aiming to promote a reasonable return of stock value [2]. Group 3: Industry Insights - Industry experts believe that the company's continuous share repurchase and cancellation, in the context of high performance growth, demonstrate management's confidence in its operational results and long-term value [3]. - As the port business capacity gradually releases and the logistics main business synergy effects become more apparent, the company's growth logic is becoming increasingly clear [3]. - By continuously optimizing its capital structure and enhancing earnings per share, the company is expected to solidify its main business development while providing more stable and sustainable returns for investors [3].