中邮证券发布研报称，看好顺丰与极兔交叉持股后的业务协作，助力中国企业物流出海，攫取全球价 值。随着中国物流企业不断加大海外资源投入，并在持续的竞合中发展壮大，终将有望催生全球物流行 业的有力竞争者。推荐顺丰控股（002352）(06936)，关注极兔速递-W(01519)。 顺丰控股在极兔快递上市前便持有极兔快递的股份。极兔快递上市前收购顺丰丰网业务，双方早有合作 先例。在跨境物流的版图扩张过程中，自建干线或末端网络均需大量的前期投入，且多企业重复投入可 能催生不必要的竞争压力，因此双方依托当前各自的优势领域进行深度合作存在现实基础。 双方合作有望深层次推进，助力物流出海 如双方交叉持股顺利推进，未来或在跨境物流市场取长补短，展开深度合作，协同顺丰的干线资源优势 和极兔的末端网络优势，提升物流产品服务质量，提高时效稳定性，亦可能探索在全球更多区域的物流 基础设施、网络建设等领域展开协作，提供高质量一体化的综合物流服务，提升产业链价值，这也符合 我国邮政"十五五"的核心目标之一——提升国际寄递服务能力水平，重点加强"干-转-仓-配"能力建设。 风险提示：宏观经济下滑，快递行业竞争超预期，快递企业出海不及预期，监 ...

智通财经APP获悉，中邮证券发布研报称，看好顺丰与极兔交叉持股后的业务协作，助力中国企业物流 出海，攫取全球价值。随着中国物流企业不断加大海外资源投入，并在持续的竞合中发展壮大，终将有 望催生全球物流行业的有力竞争者。推荐顺丰控股(06936)，关注极兔速递-W(01519)。 双方合作有望深层次推进，助力物流出海 中邮证券主要观点如下： 如双方交叉持股顺利推进，未来或在跨境物流市场取长补短，展开深度合作，协同顺丰的干线资源优势 和极兔的末端网络优势，提升物流产品服务质量，提高时效稳定性，亦可能探索在全球更多区域的物流 基础设施、网络建设等领域展开协作，提供高质量一体化的综合物流服务，提升产业链价值，这也符合 我国邮政"十五五"的核心目标之一——提升国际寄递服务能力水平，重点加强"干-转-仓-配"能力建设。 跨境资源各有所长，双方存在合作基础 顺丰、极兔拟交叉持股 风险提示：宏观经济下滑，快递行业竞争超预期，快递企业出海不及预期，监管风险。 顺丰控股与极兔速递于2026年1月15日早间发布公告，顺丰控股拟以每股36.74港元向极兔速递或其指定 主体发行2.26亿股H股，约占发行后顺丰控股总股本的约4.29%； ...

Monetary Policy - The People's Bank of China will lower the interest rates of various structural monetary policy tools by 0.25%, reducing the one-year re-lending rate from 1.5% to 1.25% [2] - The minimum down payment ratio for commercial housing loans will be reduced to 30%, and the quota for re-lending to support technological innovation and transformation will be increased from 800 billion to 1.2 trillion yuan [2] - The current monetary policy approach focuses on targeted support for specific sectors rather than broad-based measures like interest rate cuts [3] Visa Policy - The U.S. will suspend visa processing for 75 countries to combat potential public charge applicants, effective January 21 [4] - This policy primarily affects countries with weaker economies, which may not contribute significantly to U.S. assets, potentially exacerbating labor shortages in the U.S. [5] Semiconductor Tariffs - The U.S. will impose a 25% tariff on certain imported semiconductors and related equipment starting January 15, with plans for further negotiations to enhance the domestic semiconductor industry [6] - This approach contrasts with the Biden administration's subsidies for domestic chip manufacturing, indicating a shift towards tariffs as a means to boost U.S. manufacturing [7] Ctrip Investigation - Ctrip is under investigation for potential monopolistic behavior, which may lead to significant fines and changes in its market practices [8] - The company's market share in China's online travel market is reported to be 56%, significantly higher than its competitors [8] Strategic Partnerships - SF Express and Jitu have entered a strategic mutual shareholding agreement worth 8.3 billion HKD, aiming to enhance their logistics networks and capitalize on cross-border e-commerce opportunities [10] - This partnership may increase competitive pressure in the logistics industry, particularly affecting smaller players [11] Payment Systems - Visa will support Chinese cardholders in binding their Visa cards to Apple Pay, enhancing convenience for overseas transactions [12] - This move is part of a broader strategy to deepen cooperation with domestic banks and improve consumer payment experiences [13] Baidu's Listing Strategy - Baidu is considering upgrading its secondary listing in Hong Kong to a dual primary listing to gain access to the Stock Connect program, attracting more mainland capital [14] - This strategy may also involve splitting its AI chip business for independent listing, which could enhance its market position [15]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002352 证券简称：顺丰控股 公告编号：2026-003 顺丰控股股份有限公司 第七届董事会第二次会议决议公告 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。 顺丰控股股份有限公司（以下简称"公司"）第七届董事会第二次会议，经全体董事一致同意，于2026年 1月13日发出会议通知，2026年1月14日在公司会议室以通讯表决方式召开。本次会议应参与董事6名， 实际参与董事6名。会议由董事长王卫先生主持，董事会会议的举行和召开符合国家有关法律、法规及 《公司章程》的规定。经充分讨论和审议，会议形成决议如下： 一、会议以6票同意、0票反对、0票弃权，审议通过了《关于认购极兔速递新发行股份以及根据一般性 授权向极兔速递发行新H股的议案》 二○二六年一月十五日 证券代码：002352 证券简称：顺丰控股 公告编号：2026-004 顺丰控股股份有限公司 关于认购极兔速递新发行股份以及根据一般性 授权向极兔速递发行新H股的公告 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 ...

【钛媒体综合】国务院新闻办公室举行新闻发布会，中国人民银行有关负责人介绍，根据当前经济金融 形势需要，人民银行将推出8项政策措施，进一步助力经济结构转型优化。 一是下调各类结构性货币政策工具利率0.25个百分点。各类再贷款一年期利率从目前的1.5%下调到 1.25%，其他期限档次利率同步调整。 二是合并使用支农支小再贷款与再贴现额度，增加支农支小再贷款额度5000亿元，总额度中单设一项民 营企业再贷款，额度1万亿元，重点支持中小民营企业。 钛媒摘声： AI能否落地的关键往往不在于技术成熟度，商业化本质不是只是便宜就够，而要看行业政 策，配套是否成熟，是否威胁产业核心群体的既得利益。如果AI动了某个行业传统运行模 式的命脉，即使技术再成熟也很难迅速规模化落地，而这里的行规每个板块都不一样。所以 AI不是终局，把AI用在行业上才是。 ——3C AGI Partners创始人 王康曼 虽然目前的星舰是 人类设计，但预计从今年开始，AI 将在火箭工程中发挥实质性作用，例如帮助解决材料和 设计难题。而到2030年，AI的智能将超过全人类智能的总和。这标志着人类智能在地球总 智能中的占比将渐近线地趋向于0%，未来将是AI ...

Group 1 - The core viewpoint of the news is that Yichang City is implementing various measures to protect the rights of new employment form workers and promote high-quality development in this sector, which is crucial for stabilizing employment and improving livelihoods [1][2] - Yichang currently has nearly 100,000 new employment form workers, including delivery personnel, couriers, and ride-hailing drivers, accounting for about 10% of the urban workforce [1] - Over 59,000 truck drivers and delivery workers have participated in basic pension insurance, while more than 6,000 couriers have received vocational training, with over 4,300 obtaining skill certificates [1] Group 2 - Yichang City has established labor dispute resolution centers and introduced guidelines for labor relations in new employment forms to ensure fair and efficient mediation and arbitration [2] - A pilot program for occupational injury insurance was launched in 2022, providing coverage for nearly 50,000 flexible workers and handling 279 cases [2] - The city has set up various service points, including 1,072 "Red Collar Stations" and "Love Stations," to offer support services such as rest areas, rights protection, and job training for workers [1]

Group 1 - SF Holding and Jitu Express announced a mutual share issuance with a total investment of HKD 8.3 billion, enhancing their strategic partnership [1] - After the transaction, SF Holding will hold 10% of Jitu Express, while Jitu Express will hold 4.29% of SF Holding, with a five-year lock-up period for both parties [1] - The collaboration aims to leverage both companies' strengths to build a more efficient and resilient global logistics network, enhancing service for Chinese enterprises going global [1] Group 2 - SF Holding possesses strong cross-border logistics resources and overseas warehouse networks, while Jitu Express has established a delivery network across 13 countries in Southeast Asia, indicating significant resource complementarity [2] - The partnership is seen as a response to the long-standing price wars in the express delivery industry, which have led to low profit margins, and is expected to shift the industry from price competition to value competition [2] - The express delivery industry in China is transitioning towards high-quality development, with projected revenue and volume growth by 2025, indicating a broader trend of resource integration among companies [3]

Group 1 - SF Holding and Jitu Express announced a mutual share issuance with a total investment amount of HKD 8.3 billion, enhancing their strategic partnership [1] - After the transaction, SF Holding will hold 10% of Jitu Express, while Jitu Express will hold 4.29% of SF Holding, with a five-year lock-up period for both parties [1] - The collaboration aims to leverage both companies' strengths to build a more efficient and resilient global logistics network, enhancing service for Chinese enterprises going global [1] Group 2 - SF Holding possesses strong cross-border logistics resources and overseas warehouse networks, while Jitu Express has established a delivery network across 13 countries in Southeast Asia, showcasing complementary strengths [2] - The partnership is seen as a response to the long-standing price wars in the express delivery industry, which have led to low profit margins, and is expected to shift the industry from price competition to value competition [2] - The express delivery industry in China is transitioning towards high-quality development, with projected revenue of CNY 1.5 trillion and a volume of 199 billion packages by 2025, reflecting a growth of 6.5% and 13.7% respectively [3]

Group 1 - The core point of the announcement is the strategic mutual shareholding agreement between SF Holding and Jitu Express, involving an investment transaction amounting to nearly HKD 8.3 billion [1] - SF Holding will issue 226 million H-shares at a price of HKD 36.74 per share to Jitu Express, while Jitu Express will issue 822 million Class B shares at a price of HKD 10.10 per share to SF Holding [1] - After the transaction, SF Holding will hold 10% of Jitu Express, and Jitu Express will hold 4.29% of SF Holding [1] Group 2 - The mutual shareholding is expected to leverage the complementary strategic synergies between the two companies, enhancing their end-to-end cross-border logistics solutions and domestic service capabilities [2] - SF Holding's strengths in high-quality logistics and international networks will complement Jitu Express's rapid expansion in the e-commerce delivery market [2] - The partnership aims to create a global smart logistics ecosystem by integrating SF Holding's air trunk lines with Jitu Express's end networks across 13 countries, improving efficiency in emerging markets [2]

同日，顺丰发布投资者关系活动记录表。顺丰管理层在接待229位投资者调研时表示，通过本次合作，双方将更好地利用顺丰跨境干线与极兔海外末端能力 的优势进行互补，这不仅有助于提升顺丰全球网络的覆盖深度与运营效率，还为双方未来探索关键基础设施的共同投资机会创造有利条件。 每经记者｜赵雯琪 每经编辑｜余婷婷 中国物流行业迎来一场标志性的深度合作。 1月15日，顺丰控股（002352.SZ，06936.HK）与极兔速递（01519.HK）联合发布公告，宣布达成一项战略性的相互持股协议，将互为对方增发新股，投资 交易金额达83亿港元。 此次合作远非偶然。从2023年极兔收购顺丰旗下丰网，到顺丰现身极兔IPO（首次公开募股）基石投资者名单，双方关系在过去三年里持续深化，最终从业 务合作升级为资本与战略的双重协同。 双方合作并非偶然 在多位业内人士看来，极兔和顺丰的深度合作并不是偶然事件。 图片来源：据港交所公告制图 快递专家赵小敏在接受《每日经济新闻》记者采访时表示，中国快递行业规模最大（顺丰）与发展速度最快（极兔）的企业联手，将加剧快递企业的竞争压 力，可能使价格战加速走向终结，倒逼其他企业调整策略。 顺丰董事候选人将加入 ...