Core Viewpoint - The launch of HanShang Group's low-altitude port marks a significant step in the development of low-altitude logistics, which is expected to reshape traditional logistics and drive demand across various sectors, including drone manufacturing and logistics services [1][2][3]. Industry Overview - Low-altitude logistics utilizes various piloted and unmanned aircraft for cargo transportation in low-altitude airspace, driven by consumer upgrades and specific transportation needs [2]. - The increasing demand for urgent medical supplies and fresh food delivery, along with the need for quick access to essentials in remote areas, is propelling the commercialization of low-altitude logistics [2][3]. - The market for low-altitude logistics is projected to reach between 1200 billion to 1500 billion yuan by 2025, and could rise to between 4500 billion to 6050 billion yuan by 2035 [3]. Company Developments - HanShang Group's low-altitude port aims to enhance logistics for high-time-sensitive goods and integrate low-altitude economy with modern commercial ecosystems [2][4]. - Companies like SF Express and Sichuan Jiuzhou Electric have made significant advancements in low-altitude logistics, with SF Express achieving daily operations of 800 to 2000 flights in the Greater Bay Area [5]. - The industry is witnessing a trend where companies are focusing on technological innovation and operational efficiency to capture market opportunities in low-altitude logistics [4][5].

证券之星消息，2025年6月14日顺丰控股（002352）发布公告称公司于2025年6月13日接受机构调研，重阳 投资、广发证券、兴业证券、个人股东、高观投资、景顺长城基金、交银施罗德、润晖投资、Temasek、 易方达基金、远致瑞信、大成基金参与。 具体内容如下： 问：今年 3-4 月经营数据增速高于行业，高增速背后原因？是否可以持续？ 答：公司过去十年 1 到 N 的发展策略，业务板块更多元，并且在各细分领域做到头部。顺丰的差异化战 略在这几年取得较好成效，所以高增长不是来自于单一板块，而是各板块共同支撑的结果。 在时效件方面，在国补政策下，高科技产品消费正好契合顺丰高端服务的定位；同时在国家刺激消费政策 下，很多细分产业实现较好增长，比如文旅等，这些都支撑了顺丰高端产品的增速。同时，得益于公司内 部精细化管理，数字化、模式变革等带来的成本节约反哺到市场，进一步促进增长。 另外，近期增长也是公司激活经营释放出来的能量，从以往的预算目标管理调整为和市场对标，同时在激 励机制上从以往的 KPI达成奖励转变为共享经营成果，充分激发员工效能。 答：短时间这种不确定性还会持续，但对我们短期影响不大。我们在某些流向或 ...

Group 1: Strategic Focus and Organizational Changes - The company aims to activate operations by shifting from a "management-oriented" to a "service-support" model, starting from Q2 2024 [1] - Strategic and operational planning has been integrated, focusing on business units and incubator strategies [1] - The headquarters has been renamed to emphasize service over management, with a focus on developing standards and guidelines [2] Group 2: Transition to Solutions and International Expansion - The company is moving from selling standard products to providing industry solutions, leveraging its express delivery capabilities [2] - International expansion is seen as a significant opportunity, with plans to enhance logistics capabilities abroad [2] - The company has learned from its international experiences and aims to strengthen its international capacity to meet customer needs [2] Group 3: Financial Performance and Growth Strategy - The company reported a Return on Equity (ROE) of 9.2% for 2023, projected to rise to 11.2% in 2024, aligning with its strategic goals [6] - Recent growth is attributed to diversified business segments and effective internal management, rather than reliance on a single sector [5] - The company emphasizes quality revenue growth over mere volume, focusing on product and income structure [5] Group 4: Infrastructure and Technological Investments - The Ezhou hub is expected to enhance profitability by providing comprehensive logistics solutions, with significant client interest from Fortune 500 companies [7] - The logistics drone initiative, started in 2013, is positioned to capitalize on emerging low-altitude economic opportunities [8] - The company aims to optimize its capital expenditures, which have decreased by 39% year-on-year, while maintaining a healthy financial state [9] Group 5: Operational Efficiency and Customer Focus - The company has seen a reduction in customer complaints, indicating improved service quality alongside operational activation [9] - The goal of activating operations is to enhance employee engagement and maximize potential, balancing standardization with flexibility [9] - The company is focused on adjusting its revenue and cost structures to align with future strategic directions, enhancing resilience against risks [9]