关于选举职工代表董事的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 韵达控股集团股份有限公司（以下简称"公司"）第八届董事会任期即将届 满，根据《中华人民共和国公司法》（以下简称"《公司法》"）、《深圳证券 交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板 上市公司规范运作》等有关法律法规及《韵达控股集团股份有限公司章程》（以 下简称"《公司章程》"）的规定，公司于 2025 年 12 月 30 日召开职工代表大 会，会议经全体与会代表投票，同意选举职工代表邹建富先生（简历见附件）为 公司第九届董事会职工代表董事，并将与公司 2025 年第二次临时股东会选举产 生的董事共同组成公司第九届董事会，任期与公司第九届董事会任期一致。 上述职工代表董事符合《公司法》《公司章程》等有关董事任职的资格和条 件。本次职工代表董事选举完成后，公司董事会中兼任公司高级管理人员以及由 职工代表担任的董事人数不超过公司董事总数的二分之一。 证券代码：002120 证券简称：韵达股份 公告编号：2025-092 韵达控股集团股份有限公司 附件：第九届 ...

证券代码：002120 证券简称：韵达股份 公告编号：2025-091 韵达控股集团股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要提示： 本次股东会召开期间，无否决提案的情况，无变更以往股东会已通过的决议 的情况。 一、会议召开和出席情况 1、会议召开的日期、时间 （1）现场会议召开时间为：2025年12月30日（星期二）下午14:30 （2）网络投票时间为：2025年12月30日（星期二），其中通过深圳证券交 易所交易系统进行网络投票的具体时间为：2025年12月30日上午9:15-9:25、 9:30-11:30，下午13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体 时间为：2025年12月30日上午9:15至下午15:00任意时间。 2、股权登记日：2025年12月23日 3、现场会议召开地点：浙江省慈溪市宁波杭州湾新区金源大道 9 号 4、会议召开方式：本次股东会采取现场投票和网络投票相结合的方式召开。 公司将通过深圳证券交易所交易系统和互联网投票系统向全体股东提供网络形 式的 ...

北京市天元律师事务所 关于韵达控股集团股份有限公司 2025 年第二次临时股东会的法律意见 京天股字（2025）第 801 号 致：韵达控股集团股份有限公司 本次股东会采用现场投票和网络投票相结合的方式召开。本次股东会现场会议 于 2025 年 12 月 30 日（星期二）下午 14:30 在浙江省慈溪市宁波杭州湾新区金源 大道 9 号召开，由董事长聂腾云先生主持，完成了全部会议议程。本次股东会网络 投票通过深圳证券交易所交易系统和深圳证券交易所互联网投票系统进行，其中通 过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 12 月 30 日上午 9:15-9:25、9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联网投票系统投 票的具体时间为：2025 年 12 月 30 日上午 9:15 至下午 15:00 任意时间。 韵达控股集团股份有限公司（以下简称"公司"）2025 年第二次临时股东会 （以下简称"本次股东会"）采取现场投票与网络投票相结合的方式，现场会议于 2025 年 12 月 30 日（星期二）下午 14:30 在浙江省慈溪市宁波杭州湾新区金源大道 9 号召 ...

证券代码：002120 证券简称：韵达股份 公告编号：2025-093 韵达控股集团股份有限公司 第九届董事会第一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 韵达控股集团股份有限公司（以下简称"公司"）第九届董事会第一次会议于 2025 年 12 月 30 日以书面方式通知各位董事，会议于 2025 年 12 月 30 日在宁波 市召开，本次会议以现场结合通讯表决的方式进行。会议应出席的董事 9 人，实 际出席的董事 9 人（其中聂樟清以通讯表决的方式出席）。与会董事推举聂腾云 先生主持本次会议，本次会议的出席人数、召集、召开程序和审议内容均符合《中 华人民共和国公司法》（以下简称"《公司法》"）等有关法律、行政法规、部 门性规章、规范性文件及《韵达控股集团股份有限公司章程》（以下简称"《公 司章程》"）等有关规定。 二、董事会会议审议情况 1、以 9 票同意，0 票反对，0 票弃权，审议通过了《关于选举第九届董事 会董事长、联席董事长（副董事长）的议案》。 董事会同意选举聂腾云先生担任公司第九届董事会董事长，陈立英 ...

Core Viewpoint - The logistics sector experienced a slight increase of 0.04% on December 30, with ST Xuefa leading the gains, while the overall market showed mixed results with the Shanghai Composite Index closing at 3965.12, down 0.0% [1]. Group 1: Market Performance - The logistics sector's performance was highlighted by ST Xuefa, which closed at 4.31 with a gain of 5.12% [1]. - Other notable gainers included *ST Haijin, which rose by 3.34% to 8.35, and Changlian Co., which increased by 2.33% to 10.56 [1]. - The Shenzhen Component Index closed at 13604.07, reflecting an increase of 0.49% [1]. Group 2: Trading Volume and Value - ST Xuefa had a trading volume of 39,600 shares and a transaction value of approximately 16.80 million [1]. - The highest transaction value in the logistics sector was recorded by Donghang Logistics, with a closing price of 18.27 and a transaction value of 181 million [1]. - The overall trading volume and value for the logistics sector showed varied performance across different stocks, with some stocks like Baoshui Technology and Donghang Logistics achieving significant transaction values [1]. Group 3: Capital Flow - The logistics sector saw a net outflow of 531 million from institutional investors, while retail investors contributed a net inflow of 507 million [2]. - The data indicates that retail investors were more active in the logistics sector, contrasting with the outflow from institutional investors [2]. - Specific stocks like YTO Express and Baoshui Technology experienced varying levels of net inflow and outflow from different investor categories [3].

Shipping Industry - The shipping market is experiencing a seasonal downturn, with oil shipping rates under pressure due to the holiday season and geopolitical tensions affecting supply [2] - Despite entering a low season, the oil shipping demand structure is improving, suggesting a potential upward trend in rates [2] - The container shipping market is expected to face significant pressure on rates by 2026 due to ongoing trade risks and the delivery of new capacity [2] Aviation Industry - Domestic passenger flight volumes have increased slightly, with overall and domestic flights up by 1.3% and 1.5% respectively compared to the previous week [3] - The average ticket price for economy class during the upcoming New Year holiday is projected at 597 yuan, reflecting a 1.1% decrease from 2024 but a 6.7% increase from 2025 [3] - The aviation sector is expected to benefit from a recovering domestic economy, with significant potential for earnings growth as supply constraints from aircraft manufacturers persist [3] Express Delivery Industry - The "anti-involution" policy has led to price increases in the express delivery sector, with most regions in China experiencing price hikes since July [4] - The profitability of express delivery companies is expected to improve in Q4 due to these price increases, despite a decline in overall package volume growth [4] - Companies like Zhongtong and Yuantong are outperforming the market, benefiting from a reduced reliance on low-cost packages [4] Investment Recommendations - The company recommends investing in growth-oriented value stocks and cyclical stocks at low price points, including Zhongtong Express, Yuantong Express, China Eastern Airlines, and others [5]

Core Insights - The logistics industry in Lezhi County, Sichuan Province, is being transformed into a regional logistics hub, driven by the establishment of the Yunda (Lezhi) Sichuan-Chongqing Transit Center, which enhances the efficiency and effectiveness of logistics operations [2][3] Group 1: Logistics Infrastructure Development - The Yunda Sichuan-Chongqing Transit Center, set to officially operate in April 2025, covers over 150 acres and is equipped with multiple automated sorting and intelligent scheduling systems, handling millions of parcels daily [3] - The center's strategic location within the "half-hour economic circle" of Chengdu-Chongqing is a key factor for its establishment, facilitating a robust transportation network [3] - By September 2025, the logistics park has attracted over 10 logistics and supporting enterprises, creating more than 2,000 jobs, with over 70% of the workforce being local [3] Group 2: Technological Advancements - The intelligent sorting system at the Yunda center significantly reduces the time for parcel processing, achieving a turnaround time of 3-5 minutes from unloading to loading, and shortening the transit time by 6-12 hours compared to traditional methods [6] - The integration of IoT and big data technologies in logistics operations has transformed the sector from labor-intensive to technology-intensive, leading to substantial cost reductions and improved efficiency [6] Group 3: Economic Impact and Employment - The modern logistics industry park has seen steady growth in output and tax revenue since the 14th Five-Year Plan, acting as an "accelerator" for the county's economic efficiency [7] - The logistics sector's growth has provided significant employment opportunities, with the Yunda center employing a majority of local residents, thus supporting local economic stability [8] Group 4: Future Prospects - Lezhi aims to continuously improve its logistics system, attract more enterprises, and cultivate larger logistics companies to establish itself as a regional logistics hub serving the Sichuan-Chongqing area [9] - The focus on integrating logistics with agriculture and e-commerce is expected to enhance the value creation in the region, promoting local agricultural products and increasing their market reach [8]

Core Viewpoint - The express delivery industry in China is undergoing a significant green transformation, focusing on reducing packaging waste and enhancing sustainability through various innovative practices and regulatory frameworks [1][3][7]. Group 1: Industry Achievements - During the "14th Five-Year Plan" period, the express delivery sector achieved full coverage of electronic waybills and reusable packaging, with over 800 million recycled cardboard boxes annually [1]. - The standardization rate of express packaging reached 86%, and intelligent packing algorithms reduced material consumption by nearly 20% [2][3]. - Major companies like JD, SF, and Yunda have implemented green packaging initiatives, including the use of narrow tape and recycling boxes, with Yunda setting up over 20,000 recycling devices nationwide [2][3]. Group 2: Regulatory Framework - The introduction of three laws, 15 standards, and nine policies during the "14th Five-Year Plan" has established a comprehensive regulatory framework for green practices in the postal industry [3]. - The revised "Interim Regulations on Express Delivery" emphasizes the creation of a green and energy-efficient express service system, covering the entire lifecycle of packaging from design to disposal [3][6]. Group 3: Technological Innovations - The industry is leveraging technology to enhance packaging efficiency, such as using bamboo film bags that are 15% cheaper than traditional plastic bags and have higher durability [4]. - Smart algorithms in warehouses are optimizing packaging sizes, achieving a volume utilization rate of 90% and reducing material usage by approximately 20% [4][5]. Group 4: Collaborative Efforts - The postal industry is promoting collaboration with upstream e-commerce companies to minimize excessive packaging and enhance resource efficiency [5][6]. - The establishment of a green supply chain is encouraged through industry associations, aiming for a unified approach to packaging governance [7].

Group 1: Industry Overview - The report maintains a positive outlook on the transportation industry, indicating a recovery phase supported by supply and demand dynamics, particularly in the aviation sector [1][75]. - The express delivery sector shows a year-on-year growth in business volume of 14.9% and revenue growth of 7.1% from January to November 2025, reflecting a robust demand environment [3][18]. - The shipping industry is experiencing fluctuations, with the BDI index at 1900 points, down 10.49% week-on-week, while the CCFI and SCFI indices show slight increases, indicating mixed market conditions [59][61]. Group 2: Aviation Sector Insights - Domestic flight volume reached 86,137 flights during the week of December 19-25, 2025, with a daily average of 12,305 flights, reflecting a 1.42% increase week-on-week and a 1.21% increase year-on-year [12][13]. - Domestic passenger volume for the same period was 12.03 million, up 3.48% week-on-week and 6.04% year-on-year, indicating strong recovery in air travel demand [12][13]. - The average ticket price for domestic flights increased by 5.47% week-on-week, while the average bare ticket price rose by 6.08%, suggesting upward pricing pressure in the aviation market [12][13]. Group 3: Express Delivery Sector Analysis - Weekly average collection volume for express delivery was approximately 580 million pieces, with a slight decrease of 1.74% week-on-week, while delivery volume increased by 3.35% [17]. - Year-to-date average collection volume stands at about 544 million pieces per day, reflecting a year-on-year increase of 15.98% [17]. - The express delivery industry is characterized by a CR8 index of 87%, indicating a high level of market concentration, with major players like SF Express, YTO Express, and Shentong Express showing varied growth rates [21][27]. Group 4: Shipping Sector Developments - The international dry bulk market is facing a decline, with the BDI index down 10.49%, while the international container shipping market shows resilience with the SCFI index up 6.66% [59][61]. - The VLCC-TCE rate in the international oil shipping market decreased by 30.29%, indicating volatility in oil transport pricing [60]. - The report highlights the potential for a recovery in shipping rates driven by demand from the oil and dry bulk sectors, particularly as geopolitical factors may influence pricing dynamics [81]. Group 5: Recommendations and Focus Areas - Recommended stocks include China National Offshore Oil Corporation, China Eastern Airlines, and Spring Airlines, reflecting confidence in the aviation sector's recovery [4][76]. - The report suggests focusing on logistics companies like Milkrun and Hongchuan Wisdom, which are expected to benefit from the recovery in chemical logistics and warehousing [80]. - In the shipping sector, companies like China Merchants Energy Shipping are highlighted for their potential to benefit from the oil and dry bulk market recovery [81].

2020年二季度，新冠肺炎疫情影响促进网购渗透率持续提升，5月份-7月份件量增速均位于30%-40%高 景气区间，预计2020年累计件量增速或在22%-25%。中国银河认为，目前价格战持续进行、龙头份额保 持稳固、市场趋近出清的行业整体趋势尚未改变，虽然年初疫情和价格战在一定程度上使快递公司业绩 承压，但估计不晚于明年底，市场或将出清。随着头部公司在竞争中胜出，其业绩表现将自底部回升。 继续看好快递头部公司的中长期投资机会。推荐多元化业务布局、迈向综合物流服务商的顺丰控股 (002352.SZ)。推荐市占率领先、单票利润相对较高的韵达股份(002120.SZ)，谨慎推荐市占率稳健提升 的圆通速递(600233.SH)。(赵子强) 对于交运物流板块，中国银河看好快递龙头的中长期投资价值，关注航空板块的低位布局机会。 9月2日，交运物流板块高开震荡后再度冲高。截至10：30(下同)，板块整体上涨2.18%，交易中的56只 个股，有35只上涨，其中，包括飞力达(20.03%)、新宁物流(19.97%)、华鹏飞(12.13%)等在内的18只个 股涨幅均超2%。 从资金流向看，板块整体大单资金净流出4801万元，有30 ...