证券代码：600233 证券简称：圆通速递 公告编号：临 2026-004 圆通速递股份有限公司 关于 2026 年度对外担保额度的公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、担保情况概述 （一） 担保的基本情况及内部决策程序 公司于 2026 年 1 月 9 日召开第十二届董事局第三次会议，审议通过了《关 于 2026 年度对外担保额度的议案》。为满足公司下属公司经营发展需要，提高决 策效率，高效制定资金运作方案，公司及下属公司 2026 年度拟为合并报表范围 内的子公司提供总额不超过人民币 32.00 亿元的担保，其中为资产负债率超过 70%的子公司提供的担保不超过 27.40 亿元，为资产负债率低于 70%的子公司提 供的担保不超过 4.60 亿元。 同时，公司将提请股东会授权董事局在股东会批准上述担保额度的前提下， 办理具体的担保事宜。该担保额度自公司股东会审议通过之日起 12 个月内有效。 该事项尚需提交公司股东会审议。 （二） 担保预计基本情况 被担保人名称：圆通速递有限公司、杭州圆通 ...

证券代码：600233 证券简称：圆通速递 公告编号：临 2026-003 圆通速递股份有限公司 关于 2026 年度日常关联交易预计的公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 根据《上海证券交易所股票上市规则》（以下简称《股票上市规则》）等有关 规定，以及公司日常经营和业务发展需要，圆通速递股份有限公司（以下简称"公 司"）按照类别对 2026 年度将发生的日常关联交易进行了合理预计，预计将与上 海圆通蛟龙投资发展（集团）有限公司（以下简称"蛟龙集团"）及其下属公司、 阿里巴巴集团控股有限公司（以下简称"阿里巴巴集团"）下属公司等发生关联 交易，合计金额不超过人民币 506,715.41 万元。现将具体内容公告如下： 一、2026 年度日常关联交易基本情况 （一）2026 年度日常关联交易预计履行的审议程序 单位：万元 交易类型 关联方 2026 年预计 向关联方 采购商品 蛟龙集团及其下属公司 28,957.48 其中：杭州黄金峡谷生态科技有限公司 18,200.87 阿里巴巴集团下属公司 4. ...

证券代码：600233 证券简称：圆通速递 公告编号：临 2026-006 圆通速递股份有限公司 关于召开2026年第一次临时股东会的通知 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、召开会议的基本情况 (一)股东会类型和届次 2026年第一次临时股东会 召开的日期时间：2026 年 1 月 28 日 14 点 00 分 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 1 月 28 日 至2026 年 1 月 28 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 股东会召开日期：2026年1月28日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二)股东会召集人：董事局 (三)投票方式：本次股东 ...

具体内容详见上海证券交易所网站（http://www.sse.com.cn/）以及公司同 日披露的《圆通速递股份有限公司关于 2026 年度日常关联交易预计的公告》（公 告编号：临 2026-003）。 本议案已经董事局审计委员会、独立董事专门会议审议通过。 关联董事喻会蛟、张小娟、沈沉、喻世伦回避表决。 表决结果：同意 5 票，反对 0 票，弃权 0 票。 证券代码：600233 证券简称：圆通速递 公告编号：临 2026-002 圆通速递股份有限公司 第十二届董事局第三次会议决议公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 圆通速递股份有限公司（以下简称"公司"）第十二届董事局第三次会议以 电子邮件等方式通知了全体董事，并于 2026 年 1 月 9 日以通讯方式召开。应出 席会议的董事 9 名，实际出席会议的董事 9 名，符合《中华人民共和国公司法》 （以下简称《公司法》）等有关法律法规及《圆通速递股份有限公司章程》（以下 简称《公司章程》）的规定。会议由董事局主席喻会蛟先生主持。 会议以记名和书面的表决方式形成 ...

圆通速递公告，为完善北京区域基础设施布局，全资子公司圆通速递有限公司拟向关联方上海圆弘置业 管理有限公司购买其持有的北京万佳高科科贸发展有限责任公司100%股权，交易对价为3.05亿元。万 佳高科持有位于顺义区仁和地区杨家营村东的土地。本次交易经董事局审议通过，不构成重大资产重 组，无需提交股东会审议。交易完成后，万佳高科将纳入公司合并报表范围。 ...

Core Viewpoint - The article highlights the rise of the express delivery industry in China, particularly focusing on the "Three Links and One Reach" (Shentong, Yunda, Yuantong, and Zhongtong) and their roots in the small county of Tonglu, Zhejiang, which is recognized as the "Hometown of Private Express" in China [6][7][12]. Group 1: Industry Overview - The "Three Links and One Reach" companies dominate the Chinese express delivery market, holding over 60% market share as of 2024 [6]. - Tonglu County is set to become a significant logistics hub with the establishment of "Tongda Future City," which will house the second headquarters of the "Three Links and One Reach" companies [9][10]. - The logistics industry in Tonglu is expected to form a large industrial cluster, attracting numerous upstream and downstream enterprises [12][56]. Group 2: Historical Context - The founders of the "Three Links and One Reach" companies originated from Tonglu, with a notable figure being Nie Tengfei, the founder of Shentong, who is regarded as the pioneer of private express delivery in China [14][17][22]. - The express delivery business began in the early 1990s, with Shentong being one of the first private companies to break the monopoly of the postal service [22][23]. - The initial success of Shentong was driven by a small team that effectively utilized local resources and community trust to expand their operations [27][36]. Group 3: Recent Developments - The "Tongda Future City" project, with a total investment of 13 billion yuan, aims to integrate technology and logistics, featuring various headquarters and innovation centers [52][54]. - The city is expected to focus on technological innovation, with companies like Chenchen Technology and Zhejiang Inline Power establishing operations to enhance logistics efficiency [56][57]. - The development of "Tongda Future City" represents a significant shift from labor-intensive to technology-driven logistics solutions, showcasing the evolution of the industry in Tonglu [63].

Core Viewpoint - The company has announced the details of its second stock option incentive plan, highlighting the successful exercise of stock options by eligible participants and the associated financial implications. Group 1: Stock Option Exercise Overview - The third exercise period of the second stock option incentive plan allows for the exercise of 2,794,000 stock options, with the exercise period running from July 14, 2025, to June 5, 2026, and the exercise method being self-exercise [1] - As of the fourth quarter of 2025, 34,825 shares were exercised, representing 1.25% of the eligible options, generating funds of 524,812.75 yuan [2] - By December 31, 2025, a total of 2,348,533 shares had been exercised, accounting for 84.06% of the eligible options, with total funds raised amounting to 35,392,392.31 yuan, which will be used to supplement the company's working capital [2] Group 2: Share Changes - The announcement includes details on the changes in the company's shares before and after the stock option exercise, although specific figures are not provided in the text [2]

Group 1 - In 2025, the express delivery industry in China experienced significant stock price fluctuations, with Shentong Express leading the A-share market with a 33.36% increase, followed by YTO Express at 18.73%, and Jitu Express achieving a remarkable 70% increase in H-shares [1][3] - The overall express delivery business volume in China surpassed 180 billion packages by November 30, 2025, reflecting strong market vitality and economic growth [13] - Major listed express companies reported substantial growth in business volume, with SF Express exceeding 10 billion packages for the first time, Jitu surpassing 15 billion, YTO exceeding 20 billion, and Zhongtong surpassing 25 billion [14] Group 2 - The express delivery industry is shifting from a focus on price competition to a value-driven approach, emphasizing quality and digital transformation [3][4] - The National Postal Administration held discussions to address "involution" in the industry, promoting high-quality development and raising the minimum price for express services [5][7] - Companies are increasingly investing in automation and smart logistics, with major players like JD Logistics and SF Express developing advanced technologies to enhance efficiency and service quality [10][12] Group 3 - Revenue growth among major express companies varied, with SF Express reporting a revenue of 225.26 billion yuan, a year-on-year increase of 8.89%, while Shentong achieved 38.57 billion yuan, up 15.17% [15][17] - Despite overall revenue growth, profit margins are under pressure due to rising costs and intense competition, highlighting the need for improved operational efficiency [18][20] - The competitive landscape is expected to evolve, with a greater emphasis on service quality, supply chain solutions, and technological capabilities in the coming years [20]

证券代码：600233 证券简称：圆通速递 公告编号：临 2026-001 圆通速递股份有限公司 关于第二期股票期权激励计划 2025 年第四季度 自主行权结果暨股份变动的公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 圆通速递股份有限公司 特此公告。 三、股份变动情况 本次股票期权行权前后，公司股份变动情况具体如下： 2025 年第四季度，第二期股票期权激励计划部分激励对象自主行权并在中 国证券登记结算有限责任公司上海分公司完成过户登记共 34,825 股股份，占可 行权数量的 1.25%，获得募集资金 524,812.75 元；截至 2025 年 12 月 31 日，激 励对象累计自主行权且完成股份过户登记共 2,348,533 股股份，占可行权数量的 84.06%，公司累计获得募集资金 35,392,392.31 元，该项资金将用于补充公司流 动资金。 本次行权不会对公司财务状况和经营成果产生实质性影响。 本次股票期权自主行权情况：公司第二期股票期权激励计划第三个行权 期可行权数量为 2,794,0 ...

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The report highlights a significant drop in crude oil shipping rates, while long-distance shipping rates have increased. The China Import Crude Oil Composite Index (CTFI) fell by 40.6% to 1354.35 points as of December 25, 2025. Conversely, shipping rates for routes to Europe and the US have risen, with rates for Shanghai to Europe increasing by 10.2% to $1690 per TEU, and rates to the US West and East coasts rising by 9.8% and 6.6% respectively [3][13] - The report notes that Peak Flying's Kai Rui Ou eVTOL successfully completed the first ton-level unmanned cross-strait flight over the Qiongzhou Strait, demonstrating the feasibility of low-altitude transportation. Additionally, China National Airlines plans to purchase 60 Airbus A320NEO aircraft, with a total list price of approximately $9.53 billion, scheduled for delivery between 2028 and 2032 [3][14][16] - JD.com has launched its first campus "Smart Wolf" front warehouse at Guangdong Industry and Commerce Vocational Technical University, contributing to a 5.0% year-on-year growth in national social logistics total, amounting to 331.2 trillion yuan for the first 11 months of 2025 [3][22][23] Summary by Sections Industry High-Frequency Data Tracking - The Baltic Air Freight Price Index has decreased both month-on-month and year-on-year. The Shanghai outbound air freight price index was reported at 5821.00 points, showing a year-on-year increase of 9.3% but a month-on-month decrease of 8.6% [25] - Domestic cargo flight operations saw a year-on-year decline of 3.24% in December 2025, while international flights increased by 15.99% [26] - The SCFI index for container shipping was reported at 1656.32 points, with a week-on-week increase of 6.66% but a year-on-year decrease of 32.68% [35] Investment Recommendations - The report suggests focusing on the equipment and manufacturing export chain, recommending companies such as COSCO Shipping, China Merchants Energy Shipping, and Huamao Logistics. It also highlights opportunities in low-altitude economy trends and road-rail investment opportunities [4][5]