新华社北京9月28日电 题：让假期出行更便捷、物流更畅通——国新办发布会聚焦中秋国庆假期交通运输服务保障 新华社记者叶昊鸣、魏弘毅 中秋、国庆假期将至。假期交通出行状况如何？如何更好服务保障出行人群？在28日国新办举行的新闻发布会上，有关部门负责人予以回 应。 "这8天假期全社会跨区域人员流动量将达到23.6亿人次，日均约2.95亿人次，比去年同期日均增长3.2%左右。"交通运输部副部长李扬说。 今年中秋、国庆假期出行，自驾仍是公众出行的主要方式。李扬表示，预计今年假期自驾出行将达18.7亿人次，占出行总量的八成左右。 高峰时段，预计高速公路车流量可能突破日均7000万辆，其中新能源车流量达1400万辆。 铁路方面，国家铁路局副局长吴德金表示，预计全国铁路发送旅客将超过2.19亿人次，日均计划开行旅客列车约1.3万列，平均每天发送旅 客1825万人次。其中，10月1日为假期客流最高峰日。 民众出行选择越来越多元化，民航市场也越来越火爆。中国民航局总飞行师熊杰介绍，今年假期全民航旅客运输量将达到1920万人次，比 去年假期同期增长3.6%左右，创历史同期最高水平。 23.6亿人次的出行，何时客流较为集中？李扬认 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a steady revenue growth of 9.26% year-on-year, achieving an operating income of 146.86 billion yuan in the first half of 2025, with a net profit attributable to the parent company of 5.738 billion yuan, reflecting a year-on-year increase of 19.37% [1][2] - The report highlights that the company's logistics business is experiencing robust growth, with total business volume reaching 7.85 billion parcels, a year-on-year increase of 25.7% [2] - The company is expected to maintain a relatively high growth rate in the short to medium term, with long-term value potential [1][6] Summary by Sections Financial Performance - In the first half of 2025, the company achieved a net profit margin of 3.91%, an increase of 0.33 percentage points year-on-year, with non-recurring gains contributing 1.187 billion yuan [2][3] - The express delivery and large parcel segment reported a net profit of 5.385 billion yuan, up 12.28% year-on-year, driven by rapid business scale growth and improved operational efficiency [3] - The company’s free cash flow increased by 6.29% to 8.436 billion yuan, supporting its dividend and share repurchase plans [4] Business Segments - The express logistics segment generated revenue of 109.3 billion yuan, a year-on-year increase of 10.4%, while the supply chain and international business segment reported revenue of 34.2 billion yuan, up 9.7% [2][3] - The same-city instant delivery segment saw a significant profit increase of 120.43%, attributed to rising demand and network scale effects [3] Future Outlook - The company forecasts net profits of 11.911 billion yuan, 14.246 billion yuan, and 16.834 billion yuan for 2025, 2026, and 2027 respectively, representing year-on-year growth rates of 17.1%, 19.6%, and 18.2% [6] - The report emphasizes the company's long-term value potential as a leading integrated express logistics provider [6]

Group 1 - The express delivery sector showed strong performance on August 1, with Shentong Express hitting the daily limit increase [1] - Huapengfei and Huaguangyuanhai stocks rose over 10%, while Yunda Holdings, YTO Express, Debon Holdings, and Changlian Holdings increased by more than 5% [1]

Core Insights - The company reported a total revenue of 69.033 billion, representing a year-on-year increase of 19.67% [1] - The net profit attributable to shareholders was 4.012 billion, up 7.78% year-on-year [1] - The company plans to distribute a cash dividend of approximately 1.23 billion, which is about 0.36 per share, accounting for 30.7% of the annual net profit [1] Financial Performance - For the 2024 fiscal year, the company achieved a net cash flow from operating activities of 5.857 billion [1] - The basic earnings per share were 1.16, with a weighted ROE of 13.27% [1] - In Q1 2025, the company reported revenue of 17.06 billion, a year-on-year increase of 10.6%, while the non-deductible net profit decreased by 10.3% [3] Business Segments - The express delivery segment generated revenue of 62.3 billion, a year-on-year increase of 19.2%, accounting for 90.2% of total revenue [4] - The freight forwarding segment reported revenue of 3.76 billion, up 22.5%, contributing 5.5% to total revenue [4] - The aviation segment had revenue of 1.72 billion, with a significant year-on-year increase of 43.2%, but reported a loss of 170 million in gross profit [5] - Other businesses generated revenue of 1.16 billion, with a year-on-year increase of 5.8% and a gross profit of 610 million [6] Investment Outlook - The company is leveraging technology to enhance its comprehensive capabilities, with highlights including a 25% year-on-year increase in express delivery volume, surpassing industry average growth [7] - The average revenue per shipment slightly decreased by 4.9% compared to the previous year [7] - The aviation segment's gross margin increased by 10 percentage points year-on-year, indicating improved efficiency [7]