FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) FF305 第 2 頁 共 10 頁 v 1.3.0 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02057 | 說明 | A類普通股 | | | | | | | A. 已發行股份或庫存股份變動 | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | | | 佔有關事件前的現有已發 | | | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | | 行股份（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | | | | 於下列日期開始時的結存(註1) | 2025年11月13日 | | 598,368,490 | | | 0 | | ...

Group 1 - The year 2026 marks the beginning of the "15th Five-Year Plan," with strategies focusing on "anti-involution" and "promoting outbound" as key measures to address current economic development bottlenecks and cultivate new growth momentum [2][4] - The aviation industry is expected to see accelerated profit recovery in 2026, with strong performance in 2025 and support from policies aimed at reducing competition and boosting demand [4] - The express delivery industry is identified as a benchmark for "anti-involution," with expected improvements in 2026 as price increases take effect and profits begin to recover [4] Group 2 - Jitu Express is highlighted for its growth potential in Southeast Asia and Latin America, benefiting from a strong partnership with TikTok, leading to a 65% increase in parcel volume in 2025 [3] - Jiayou International is focusing on logistics in Africa, with significant profit contributions expected from coal trade in Mongolia and rapid growth potential in Africa [3] - The shipping industry is experiencing a global shift, with oil transportation seeing high demand due to OPEC+ production increases and sanctions, while dry bulk shipping is anticipated to improve as new mining projects come online [5]

Core Viewpoint - The delivery services of several express companies in the Chengdu New District have been suspended, causing significant inconvenience for residents during the peak shopping period of "Double 11" [2][4]. Group 1: Delivery Issues - Residents in the New Chuan District reported that multiple express companies, including Zhongtong, Yuantong, Shentong, and Yunda, indicated that their locations were "undeliverable" due to reasons such as "address cannot be delivered" and "the order's delivery area cannot be dispatched" [2][3]. - The situation is affecting several residential complexes, with reports confirming that 2-5 express companies are showing "undeliverable" status for each complex [3]. Group 2: Reasons for Delivery Suspension - The primary reasons for the suspension of delivery services include the lack of delivery points in the area and a high volume of complaints from residents regarding lost or damaged packages [4][6]. - Many residential complexes lack dedicated express delivery stations, leading to a significant increase in delivery volume, with some complexes experiencing over 1,000 packages daily during "Double 11" [6]. - Complaints from residents about delivery issues have increased, prompting express companies to halt services due to operational inefficiencies and rising costs [6]. Group 3: Solutions Being Implemented - Community staff have reported that measures are being taken to address the delivery issues, including converting parts of property management offices into temporary pick-up points for packages [7]. - New temporary storage solutions, such as delivery cabinets and designated areas for package storage, are being established to facilitate the collection of packages by residents [7]. - Plans are in place to develop a neighborhood center that will integrate various services, including express delivery, to improve logistics in the area [7].

Group 1 - The State Council's meeting emphasized enhancing the adaptability of supply and demand in consumer goods to unleash consumption potential and facilitate economic circulation [1] - The meeting highlighted the importance of leading industrial upgrades through consumption upgrades and better meeting diverse demands with high-quality supply [1] - The focus is on accelerating the application of new technologies and models, particularly in key industries, to develop new products and value-added services [1] Group 2 - The Ministry of Finance is committed to strengthening counter-cyclical and cross-cyclical adjustments, determining deficit rates and debt scales based on changing circumstances [2] - The China Securities Regulatory Commission aims to enhance market resilience and stability, making the system more inclusive and attractive while improving the quality of listed companies [3] - The People's Bank of China announced an 800 billion yuan reverse repurchase operation to maintain ample liquidity in the banking system [4] Group 3 - The State Administration for Market Regulation released a draft for public consultation on antitrust compliance guidelines for internet platforms, aiming to clarify compliance responsibilities and promote fair competition [5][6] - The Ministry of Commerce and other departments issued a notice to strengthen management of second-hand car exports, particularly controlling new cars exported under the guise of second-hand vehicles [7] - The Shanghai Stock Exchange is monitoring stocks with severe abnormal fluctuations, including specific companies facing delisting risks [8][9] Group 4 - Several smartphone manufacturers have paused procurement of storage chips due to soaring prices, with some companies reporting DRAM inventory levels below three weeks [11] - Industrial Fulian responded to rumors of order downgrades, stating that current project progress and delivery schedules are normal [12] - Huawei is set to release breakthrough AI technology aimed at improving the efficiency of computing resource utilization [13] Group 5 - Samsung Electronics has raised contract prices for certain memory chips by up to 60% due to a shortage driven by the global AI data center construction boom [14] - Multiple airlines have announced free ticket changes for flights to Japan amid safety concerns, urging Chinese citizens to avoid travel to Japan [15] - The U.S. government has adjusted the "reciprocal tariffs" list, removing certain agricultural products from additional tariffs [17]

Group 1 - The State Council meeting emphasized enhancing the adaptability of supply and demand in consumer goods to further stimulate consumption and promote economic circulation [1] - The meeting highlighted the importance of leading industrial upgrades through consumption upgrades and better meeting diverse demands with high-quality supply [1] - The focus will be on accelerating the application of new technologies and innovative models, particularly in key industries and fields, to develop new products and value-added services [1] Group 2 - The Ministry of Finance plans to strengthen counter-cyclical and cross-cyclical adjustments, determining deficit rates and debt scales based on changing circumstances [2] - The People's Bank of China announced an 800 billion yuan reverse repurchase operation to maintain ample liquidity in the banking system [4] Group 3 - The China Securities Regulatory Commission aims to enhance market resilience and stability, making the system more inclusive and attractive while improving the quality and value of listed companies [3] - The market supervision authority released a draft guideline for antitrust compliance for internet platforms, aiming to protect legal rights and maintain fair competition [5] Group 4 - Multiple smartphone manufacturers, including Xiaomi and OPPO, have paused storage chip purchases due to soaring prices, with some having inventory levels below three weeks [11] - Industrial Fulian denied rumors of order or outlook downgrades, stating that current project progress and delivery schedules are normal [12] - Huawei is set to release breakthrough AI technology that could significantly improve the utilization efficiency of computing resources [13] - Samsung Electronics raised contract prices for server memory chips by up to 60% due to supply shortages driven by the AI data center boom [14]

Core Insights - 2026 marks the beginning of the "14th Five-Year Plan," with strategies focusing on "reducing internal competition" and "promoting overseas expansion" as key measures to address current economic challenges and foster new growth momentum in the transportation sector [3]. Group 1: Industry Focus Areas - The transportation industry will concentrate on four main lines of development in alignment with the "14th Five-Year Plan" policies and industry trends [3]. - The aviation and express delivery sectors are highlighted for their potential in achieving high-quality development through reduced internal competition [4]. - The shipping industry is undergoing global changes, with oil transportation experiencing a boom while the dry bulk sector faces challenges [5]. Group 2: Overseas Expansion Opportunities - Jitu Express is positioned as a rare player in Southeast Asia and Latin America, benefiting from the rapid growth of Tiktok and a projected 65% increase in parcel volume in Southeast Asia for the first three quarters of 2025 [6]. - Jiao You International is focusing on logistics in Africa, with coal trade in Mongolia expected to rebound significantly in the second half of 2025, while Africa is anticipated to become a major growth driver [6]. - The aviation sector is expected to see accelerated profit recovery in 2026, with major airlines likely to achieve profitability in 2025 [6]. Group 3: Market Dynamics and Predictions - The express delivery sector is set to improve in 2026, with the industry experiencing a price recovery following a period of intense competition [6]. - Oil transportation is benefiting from OPEC+ production increases and seasonal demand, leading to rising freight rates [6]. - The dry bulk shipping sector is expected to see a recovery in demand due to new mining projects and potential interest rate cuts [6]. Group 4: Economic Transition and Stability - The report emphasizes the importance of stable output during the economic transition period, with recommendations for investments in highway and port infrastructure [6].

Core Viewpoint - ZTO Express (02057) announced a share repurchase plan, committing to buy back 3,881 shares for a total expenditure of $73,700 by November 13, 2025 [1] Summary by Category - **Company Actions** - ZTO Express plans to repurchase shares, indicating confidence in its financial position and future prospects [1] - **Financial Details** - The total amount allocated for the share buyback is $73,700, which reflects the company's strategy to enhance shareholder value [1]

Core Viewpoint - ZTO Express (02057) announced a share repurchase plan, committing to buy back 3,881 shares for a total expenditure of $73,700 on November 13, 2025 [1] Group 1 - The company is actively engaging in share repurchase, indicating confidence in its own stock value [1] - The specific number of shares to be repurchased is 3,881 [1] - The total amount allocated for this buyback is $73,700 [1]

格隆汇11月14日丨中通快递-W(02057.HK)发布公告，2025年11月13日耗资7.37万美元回购3881股，每股 回购价18.99美元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中通快遞（開曼）有限公司（於開曼群島註冊成立以不同投票權控制的有限責任公司） 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02057 | 說明 | A類普通股 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已 ...