STO(SZ:002468)2024-10-15 00:37Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market [5]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of 616-664 million yuan for the first three quarters of 2024, representing a year-on-year growth of 178.68%-200.40% [4]. - The third quarter of 2024 is projected to see a net profit of 179-227 million yuan, reflecting a staggering year-on-year growth of 6430%-8181%, indicating strong operational performance [4]. - The company has shown resilience during the traditionally weak months of July and August, with a business volume of 3.885 billion parcels, a year-on-year increase of 31.25% [4]. - The report highlights that the company has improved its operational quality and is well-positioned for the peak season, with potential for further price increases [4]. Financial Summary - The company’s total revenue for 2023 is projected at 40,924 million yuan, with a year-on-year growth rate of 21.5% [6]. - The net profit for 2024 is estimated to be 1,006 million yuan, reflecting a significant year-on-year growth of 195.3% [6]. - The earnings per share (EPS) for 2024 is expected to be 0.66 yuan, with a projected increase to 1.10 yuan by 2026 [6]. - The report anticipates a gross margin of 5.2% for 2024, improving to 6.7% by 2026 [6].