STO(SZ:002468)2025-03-05 07:57Investment Rating - The report maintains a "Buy" rating for the company [2][8]. Core Views - The completion of the transfer center acquisition in Yiwu is expected to enhance network efficiency and market share [8]. - The company has shown confidence through continuous share buybacks, which are anticipated to strengthen employee motivation and network cohesion [8]. - The profit forecast remains unchanged, with expected net profits for 2024-2026 projected at 1.006 billion, 1.383 billion, and 1.685 billion respectively, reflecting significant growth rates [8]. Financial Data and Profit Forecast - Total revenue is projected to grow from 40.924 billion in 2023 to 66.897 billion by 2026, with a compound annual growth rate (CAGR) of approximately 18.7% [6]. - The net profit is expected to increase from 341 million in 2023 to 1.685 billion by 2026, indicating a CAGR of 37.5% [6]. - Earnings per share (EPS) are forecasted to rise from 0.23 in 2023 to 1.10 by 2026 [6].