智通财经APP讯，圆通速递(600233.SH)披露2025年半年度报告，报告期公司实现营收358.83亿元，同比 增长10.19%;归母净利润18.31亿元，同比下降7.9%;扣非净利润17.65亿元，同比下降6.97%;基本每股收 益0.5311元。 ...

申通快递股份有限公司 | | | 发行要素 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 申通快递股份有限公 | | | | | | | | | | | 债券名称 司 2025 | 年度第一期科 | | | 债券简称 | | | | | | | | | | | （科创债） | | | | | | | 技创新债券 | | | | | | | | | | | 债券代码 102583649 | | | 期限 | | 3年 | | | | | | 2025 8 起息日 年 月 | 27 | 日 | 兑付日 | | 2028 | 8 年 | 月 | 27 日 | | | | | 实际发行 | | | | | | | | | 计划发行总额 7 亿元 | | | | | 7 | 亿元 | | | | | | | 总额 | | | | | | | | | 发行利率 2.08% | | | 发行价格 | | | 100 元 | | | | | | | 申购情况 | | | | | | | | | | | 合规申购 ...

中证报中证讯（王珞）8月27日，申通快递（002468）发布公告显示，公司成功发行2025年度第一 期科技创新债券。本次发行规模为7亿元，期限为3年，发行利率低至2.08%。 公司表示，科创债的成功发行，一方面可以有效降低公司融资成本，另一方面有助于公司改善短期 偿债压力，使债务结构与业务发展的长期资金需求更加匹配。合理的债务结构安排，为申通快递应对市 场波动和业务拓展提供了更稳定的财务基础。低成本资金的注入，也将为公司产能升级与数智化网络建 设等战略提供更灵活的财务支持。 前景向好 利率优势凸显背后投资价值 据了解，申通快递首期科创债发行吸引了国有大行、股份制银行在内的多家投资者参与，全场认购 倍数2.4倍，最终以2.08%的票面利率成功募资7亿元，该发行利率水平也反映出市场对公司未来现金流 稳定性和长期发展前景的高度认可。 当前，快递行业正处于从"规模扩张"向"价值竞争"转型的关键阶段。随着促消费政策不断落地以及 全国快递物流网络向西、向下延申，行业头部企业有望凭借网络覆盖、运营效率和服务能力等综合优势 延续稳健增长势头。申通快递作为国内知名的头部快递服务企业之一，近年来通过持续投入基础设施建 设，深耕网 ...

Core Points - Shentong Express announced the issuance of its first phase of technology innovation bonds for 2025, with a total scale of 700 million yuan and a low interest rate of 2.08% [1] - The bond issuance attracted participation from 13 investment institutions, achieving a subscription multiple of 2.4 times and a marginal multiple of 2.48 times [1] - The raised funds will be used to supplement the working capital of Shentong Express and its subsidiaries, with 50% allocated to Shanghai Shinxue Supply Chain Management Co., Ltd. for operational expenses and technology research and development [1] - The issuance of these bonds is expected to strengthen the company's internal R&D capabilities and support its digital transformation strategy, while also reducing financing costs and improving short-term debt repayment pressure [1]

交通运输 2025 年 08 月 27 日 圆通速递 (600233) 上 市 公 司 相关研究 证券分析师 王易 A0230525050001 wangyi@swsresearch.com 闫海 A0230519010004 yanhai@swsresearch.com 范晨轩 A0230525070003 fancx@swsresearch.com 联系人 王易 (8621)23297818× wangyi@swsresearch.com ——上半年兼顾量利平衡，看好下半年业绩弹性 报告原因：有业绩公布需要点评 买入（维持） | 市场数据： | 2025 年 08 月 27 日 | | --- | --- | | 收盘价（元） | 17.19 | | 一年内最高/最低（元） | 19.55/11.97 | | 市净率 | 1.8 | | 股息率%（分红/股价） | 2.09 | | 流通 A 股市值（百万元） | 58,794 | | 上证指数/深证成指 | 3,800.35/12,295.07 | 注："股息率"以最近一年已公布分红计算 | 基础数据: | 2025 年 06 月 30 日 | | -- ...

Core Viewpoint - The article discusses the tax implications and calculations for a company providing labor dispatch services under the new VAT regulations, specifically focusing on the choice between simplified taxation methods and the calculation of taxable amounts based on the difference between total income and employee compensation [2][3][5]. Group 1: VAT Calculation Methods - Small-scale taxpayers providing labor dispatch services can choose to calculate VAT based on total income or opt for a differential taxation method, deducting employee wages and benefits from total income [2][3]. - The differential taxation method allows for a lower taxable base, calculated as the total income minus employee-related expenses, with applicable VAT rates of 3% or 5% depending on the situation [2][3]. Group 2: Taxable Amount Calculation - For the VAT special invoice, the taxable amount is calculated as follows: (1,250,000 - 1,160,000) / (1 + 5%) = 85,714.29 yuan [2]. - For the VAT ordinary invoice, the taxable amount is calculated as: (2,000,000 - 1,750,000) / (1 + 5%) = 238,095.24 yuan [2]. - The total taxable amount for the quarter, after applying the differential method, is (3,250,000 - 2,910,000) / (1 + 5%) = 323,809.52 yuan, which exceeds the exemption threshold of 300,000 yuan [2][5]. Group 3: Tax Reporting - The company must report the calculated amounts in the VAT and additional tax declaration form, detailing the exempt sales amount based on the differential taxable sales [3][4][5]. - The total VAT payable for the period is calculated as 323,809.52 * 5% = 16,190.48 yuan, which must be reported in the appropriate sections of the tax declaration form [5].

比例等股权形式给予个人奖励，获奖人在 取得股份、出资比例时，暂不缴纳个人所 得税；取得按股份、出资比例分红或转让 股权、出资比例所得时，应依法缴纳个人 所得税。 合 享受范围 科研机构 高等学校 科研机构和高等学校职务科技成果转 化的获奖人 欢迎扫描下方二维码关注： > 享受条件 营 科研机构 指按中央机构编制委员会和国家 科学技术委员会《关于科研事业单位 机构设置审批事项的通知》(中编办发 〔1997〕14 号）的规定设置审批的自然 科学研究事业单位机构。 ' 指全日制普通高等学校（包括大学、 专门学院和高等专科学校）。 享受上述优惠政策的科技人员必须是 科研机构和高等学校的在编正式职工。 写 享受方法 将职务科技成果转化为股份、投资比 例的科研机构、高等学校或者获奖人员， 应在授（获）奖的次月 15 日内向主管税 务机关备案。 的次月 15 日内 备案材料:《科技成果转化暂不征收 个人所得税备案表》 奖励单位留存备查材料: 技术成果价 值评估报告、股权奖励文件及其他证明材 料留存备查。 つ 网上ホ理路径 IT LL /J + エレロ II 1、登录自然人电子税务局(扣缴端), 点击首页 -【优惠备案与信息 ...

Core Viewpoint - YTO Express reported a revenue of 35.883 billion yuan for the first half of 2025, marking a year-on-year growth of 10.19%, while net profit attributable to shareholders decreased by 7.90% to 1.831 billion yuan [1] Group 1: Company Performance - YTO Express completed a total express delivery volume of 14.863 billion pieces, representing a year-on-year increase of 21.79%, surpassing the industry average growth rate by 2.5 percentage points [1] - The company is focusing on digitalization and intelligent development, expanding its logistics ecosystem, and enhancing international market presence [1] Group 2: Industry Trends - The State Post Bureau held a meeting in late July to address "involution" competition in the express delivery industry, promoting high-quality development and addressing issues like illegal charges in rural areas [2] - As the industry moves towards "anti-involution," express delivery prices are expected to stabilize and recover, potentially improving the profitability of leading express companies [2] Group 3: International Expansion - YTO Express is advancing its international development strategy by leveraging trends in cross-border e-commerce and the Belt and Road Initiative, actively expanding into emerging markets [2] - The company is optimizing its cross-border logistics product matrix and enhancing its global service capabilities through a well-established overseas network and diverse fleet [2]

Group 1 - The core viewpoint of the article highlights that YTO Express (600233.SH) has shown significant growth in its express delivery business, with a volume of 14.863 billion parcels completed in the first half of 2025, representing a year-on-year increase of 21.79%, which exceeds the industry average growth rate by 2.5 percentage points [1] - The company achieved an operating revenue of 35.883 billion yuan, reflecting a year-on-year growth of 10.19% [1] - The net profit attributable to shareholders of the parent company was 1.831 billion yuan, a decrease of 7.9% year-on-year, while the express delivery business contributed a net profit of 1.985 billion yuan [1]

《规划》还提到，预计到2035年，全市快递末端网点数量不宜低于3500个，中心城区实现10分钟快递服 务圈全覆盖，将北京快递基础设施网络建设成为全国快递领域集约化、规范化、数智化的标杆示范。目 前，该《规划》进行成果公示，听取公众意见，公示至2025年9月19日结束。 全市快递末端网点数量不宜低于3500个 近年来，快递"规模经济"效应持续放大，快递服务改变了人们的生活方式、生产的组织方式和货物的流 通方式。从业务规模和民生相关性上看，快递服务已具有鲜明的公共服务属性，快递基础设施已经成为 承载民生服务、经济运行的重要保障，建设韧性城市的有力支撑。记者梳理发现，此次《规划》通过多 角度对北京快递基础设施布局进行了明确。 北京快递配送拟再提速。8月27日，新京报记者获悉，北京市邮政管理局会同北京市规划和自然资源委 员会组织编制了《北京市快递基础设施专项规划(2023年-2035年)》(以下简称《规划》)，提到将在首都 国际机场、大兴国际机场打造具有标杆引领作用的大型快递专业园区，形成全市快递服务及相关产业集 群的两大聚核。同时，将在顺义、平谷、通州、大兴、房山、昌平，布局快递分拨中心、快递仓配中 心，并重点结合 ...