证券代码：002120 证券简称：韵达股份 公告编号：2024-035 韵达控股股份有限公司 关于回购公司股份进展情况的公告 （一）公司回购股份的时间、回购股份价格及集中竞价交易的委托时段符合 《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》的相关规定。 1、公司未在下列期间回购股份： 本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。 韵达控股股份有限公司（以下简称"公司"）2023 年 11 月 17 日召开的第八 届董事会第八次会议审议通过了《关于回购公司股份的议案》，公司拟使用自有 资金通过深圳证券交易所股票交易系统以集中竞价交易方式回购公司已发行的 人民币普通股（A 股）股票，回购的股份将用于股权激励计划或员工持股计划。 回购资金总额为人民币 50,000,000 元（含）-100,000,000 元（含），回购价格为 不超过人民币 14 元/股。本次回购期限自公司董事会审议通过回购方案之日起不 超过 6 个月。具体内容详见公司 2023 年 11 月 20 日于 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的 ...

2024 年 05 月 04 日 公司研究 评级：买入 (维持 ) 研究所： [Table_Title] 业务量增速回归，供需再平衡，业绩弹性可期 证券分析师： 祝玉波 S0350523120005 zhouyb01@ghzq.com.cn ——韵达股份（ ） 年报及 002120 2023 年一季报点评 2024 最近一年走势 事件 : 2024年4月29日，韵达股份发布2023年年报及2024年一季报： 财务方面，2023 年，韵达股份实现营业收入 449.83 亿元，同比下降 5.17%；实现归母净利润16.25亿元，同比增长9.58%；扣非归母净利润 13.90亿元，同比增长0.07%；2024Q1，韵达股份实现营业收入111.56 亿元，同比增长6.50%；实现归母净利润4.12亿元，同比增长15.02%； 扣非归母净利润3.85亿元，同比增长11.50%。 经营方面，2023 年韵达股份全年业务量完成 188.54 亿票，同比增长 相对沪深300表现 2024/04/30 7.07%，快递单票收入2.30元，同比下降10.08%。2024Q1业务量完成 表现 1M 3M 12M 49.42亿票，同 ...

公 司 研 证券研究报告 究 ＃industryId＃ 交通运输行业 ＃investSuggestion＃ ＃ ＃d 韵yCo 达mp 股any＃份 （ 002120 ） investSug 增持 ( 维ges持tion ）Ch 002120 ＃title＃ 享受行业温和竞争和需求增长红利、立足自身修复 ange＃ ＃ createTime1＃ 2024年 04月 30 日 投资要点 公 ＃市场ma数rk据et Data＃ ＃ ⚫ sum 事ma 件ry＃ ：公 司发布23年报及24年一季报，1）23年营收449.83亿元，同比-5.17%、 司 市场数据日期 2024-04-30 归母净利16.25亿元，同比+9.58%、快递件量份额14.3%，同比-1.6pct。2） 点 收盘价（元） 7.85 24Q1营收111.56亿元，同比+6.5%，归母净利4.12亿元，同比+15.02%。 评 总股本（百万股） 2899.19 报 流通股本（百万股） 2815.12 ⚫ 分季度看：23Q1/23Q2/23Q3/23Q4/24Q1 归母净利分别为 3.6/5.1/3.0/4.6/4.1 净资产（百万元） 1959 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2] Core Views - The company reported a revenue of 45 billion yuan in 2023, a decrease of 5.2% year-on-year, while the net profit attributable to shareholders increased by 9.6% to 1.63 billion yuan [2] - In Q1 2024, the company achieved a revenue of approximately 11.2 billion yuan, representing a year-on-year growth of 6.5%, and a net profit of about 410 million yuan, up 15.0% year-on-year [2] - The company plans to distribute a cash dividend of 0.17 yuan per share (including tax) [2] Summary by Sections Market Data - Total share capital: 2.899 billion shares - Total market value: 22.846 billion yuan - One-year low/high: 5.66/12.37 yuan - Turnover rate over the last three months: 57.09% [1] Financial Performance - In 2023, the company handled approximately 18.9 billion express parcels, a growth of 7.1%, but below the national growth rate of 19.4% [2] - The company's express service revenue in 2023 was about 43.3 billion yuan, down 3.7% year-on-year, with a single ticket revenue of approximately 2.30 yuan, a decrease of 10.1% [2] - Cost control measures led to a decrease in single ticket costs by 10.2% in 2023, with a gross margin of 8.52% [2] Operational Insights - The company has been enhancing its service capabilities, leading to a steady recovery in delivery quality since October 2023, with significant month-on-month growth in parcel volume [2] - The report anticipates a gradual recovery in profitability due to ongoing cost reduction and efficiency improvement measures, despite short-term pressure on single ticket revenue from intensified market competition [2] Profit Forecast and Valuation - The report adjusts the net profit forecast for 2024 and 2025 down by 15% and 21% to 2.44 billion yuan and 2.83 billion yuan, respectively, while introducing a 2026 forecast of 3.24 billion yuan [2] - The company is expected to see a gradual improvement in profitability as operational measures take effect [2]

证券研究报告 | 2024年04月30日 韵达股份（002120.SZ） 买入 经营稳定向好，盈利稳健增长 核心观点 公司研究·财报点评 2024年一季度公司业绩增长稳健。2023年全年营收449.8亿元（-5.2%）， 交通运输·物流 扣非归母净利润13.9亿元（+0.07%）；23年四季度单季营收121.5亿元 证券分析师：罗丹 证券分析师：高晟 （-0.3%），扣非归母净利润4.20亿元（-39.3%）；2024年一季度单季营收 021-60933142 021-60375436 luodan4@guosen.com.cn gaosheng2@guosen.com.cn 111.6亿元（+6.5%），扣非归母净利润3.85亿元（+11.5%）。 S0980520060003 S0980522070001 公司业务量增速修复，市占率变化趋稳，行业竞争激烈导致单票价格同比降 基础数据 幅明显。在行业竞争较为激烈的背景下，韵达采取相对积极的价格策略，四 投资评级 买入(维持) 合理估值 季度和一季度的单票快递价格分别约为2.30元和2.20元，同比降幅分别为 收盘价 7.85元 16.4%和15.9%。202 ...

Financial Performance - Total revenue for 2023 was approximately ¥44.98 billion, a decrease of 5.17% compared to ¥47.43 billion in 2022[12] - Net profit attributable to shareholders for 2023 was approximately ¥1.63 billion, an increase of 9.58% from ¥1.48 billion in 2022[12] - Net cash flow from operating activities decreased by 35.98% to approximately ¥3.39 billion in 2023, down from ¥5.29 billion in 2022[12] - Basic earnings per share for 2023 increased by 9.80% to ¥0.56, compared to ¥0.51 in 2022[12] - Total assets at the end of 2023 were approximately ¥38.08 billion, a slight increase of 0.02% from ¥38.07 billion at the end of 2022[12] - Net assets attributable to shareholders increased by 12.89% to approximately ¥19.17 billion at the end of 2023, up from ¥16.98 billion at the end of 2022[12] - The gross margin for the year was reported at 18.5%, a slight decrease from 19.2% in 2022[14] - The company's gross profit margin for express services was 8.52%, an increase of 0.13 percentage points year-on-year[39] - The total operating revenue for 2023 was ¥44,982,510,736.07, a decrease of 5.17% compared to ¥47,433,735,496.37 in 2022[76] - Express service revenue accounted for 96.22% of total revenue, totaling ¥43,282,719,009.45, down 3.72% from ¥44,956,834,559.28 in the previous year[76] Operational Efficiency - The company plans to distribute a cash dividend of ¥1.70 per 10 shares (including tax) to all shareholders[2] - The company reported a total cash flow from operating activities of CNY 2.92 billion, an increase of 15.6% year-on-year[14] - The company achieved operating revenue of 44.983 billion yuan, with express service revenue accounting for 43.283 billion yuan[39] - The company's operating costs decreased by 5.61% year-on-year, with express service costs down by 3.86%[39] - The company has invested CNY 300 million in new technology development, focusing on automation and AI in logistics[19] - The company is investing in infrastructure, automation, and digitalization to improve operational efficiency and service quality, aiming for high-quality development[32] - The company has established 76 self-operated hub transfer centers, achieving a 100% self-operated ratio, and has a total of 4,851 first-level franchisees, also at a 100% franchise ratio[41] - The average daily dispatch of mainline routes exceeds 4,500 trips, with over 750 branch lines opened, and more than 900 trips dispatched daily[46] - The company has developed a customer manager system to provide a one-stop logistics service, enhancing customer service quality[47] Market Expansion and Strategy - The company plans to expand its service network by opening 500 new service centers in 2024, aiming to enhance delivery efficiency[19] - The company expects a revenue growth of 10% to 15% in 2024, driven by increased e-commerce activity and market expansion[19] - The company has expanded its international business to 272 cities, covering 41 countries and regions[43] - The company is exploring potential acquisitions to enhance its logistics capabilities and expand its service offerings[140] - Yunda Holdings plans to expand its market presence by opening 100 new service centers across China in the next fiscal year[140] - The company aims to enhance service quality and operational efficiency, targeting a balanced growth in business volume and market share in 2024[112] Customer Satisfaction and Service Quality - The satisfaction rate for effective complaint handling by express companies reached 97%, with the average delivery time in key areas reduced to 56.42 hours, a decrease of 2.40 hours year-on-year[30] - The on-time delivery rate within 72 hours improved to 80.97%, an increase of 3.15 percentage points year-on-year[30] - The company has reported a significant improvement in customer satisfaction, with a complaint rate of 0.69 and an effective complaint rate of 0.02 per million packages[52] - The company ranked second in the 2023 express service satisfaction survey, with a 72-hour delivery rate between 80%-90%[33] - The company is focusing on enhancing service quality and digital capabilities to improve customer acquisition and service experience[39] Technological Innovation - The company is enhancing its digital management capabilities, integrating big data and AI to improve operational efficiency and service quality[56] - The company has developed a smart visual system utilizing computer vision and deep learning to automate logistics processes, improving operational efficiency and reducing damage to goods[59] - The implementation of intelligent sorting and scheduling has significantly enhanced package processing efficiency, optimizing employee work schedules based on predicted package volumes[59] - The company has invested 5.456 billion yuan in automation equipment, enhancing sorting speed, accuracy, and overall operational efficiency across its network[64] - The company emphasizes continuous technological innovation, focusing on AI and machine learning applications to enhance logistics services[61] Sustainability and Social Responsibility - The company has actively engaged in community support and disaster relief activities, demonstrating its commitment to social responsibility[178] - The company aims to contribute to achieving China's carbon peak and carbon neutrality goals through its green transportation management initiatives[175] - The company has implemented energy-saving measures in its new distribution centers, including radar-sensing lighting systems[176] - The company has introduced various green packaging initiatives, including the promotion of electronic waybills and "thinner tape" to minimize waste[175] - The company has significantly reduced the proportion of secondary packaging for e-commerce express deliveries in 2023[177] Governance and Compliance - The company ensures compliance with corporate governance regulations, maintaining independence from its controlling shareholder in operations, assets, and finances[130] - The company has established a performance evaluation mechanism linking the compensation of senior and middle management to operational performance[130] - The company emphasizes transparency in information disclosure, utilizing multiple platforms to ensure fair access to information for all shareholders[129] - The company has a structured board of directors and supervisory board, ensuring compliance with legal requirements in their composition and operations[130] - The company has not faced any penalties from securities regulatory authorities in the past three years for its current and former directors, supervisors, and senior management[142] Employee Development and Compensation - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,504.12 million[144] - The company has implemented a competitive compensation policy to ensure employee rights and promote internal balance while remaining competitive in the external market[153] - The company has established a talent development plan that includes a comprehensive training system for management and operational roles[155] - The company aims to enhance employee skills through a standardized training system, focusing on key personnel such as managers and delivery staff[155] - The company has developed a talent pool plan to meet the needs of various talent pools and optimize the talent development environment[155]

韵达控股股份有限公司 2024 年第一季度报告 证券代码：002120 证券简称：韵达股份 公告编号：2024-027 韵达控股股份有限公司 2024 年第一季度报告 本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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大 遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第一季度报告是否经审计 □是 否 1 韵达控股股份有限公司 2024 年第一季度报告 一、主要财务数据 （一）主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|-------------------|---------------------------- ...

证券代码：002120 证券简称：韵达股份 公告编号：2024-023 韵达控股股份有限公司 韵达控股股份有限公司（以下简称"公司"）根据 2022 年 6 月 23 日召开的 2022 年第一次临时股东大会授权，向中国银行间市场交易商协会申请注册发行 规模不超过人民币 20 亿元（含 20 亿元）的中期票据。公司于 2022 年 10 月 1 日 披露了《关于中期票据获准注册的公告》，获准注册的中期票据额度为人民币 20 亿元，注册额度自《接受注册通知书》落款之日（即 2022 年 9 月 29 日）起 2 年 内有效。根据公司资金计划安排和银行间市场情况，2024 年 4 月 24 日-2024 年 4 月 25 日，公司发行了 2024 年度第一期中期票据，发行金额为 5 亿元，募集资 金已于 2024 年 4 月 26 日到账。现将发行结果公告如下： | | 发行要素 | | | | --- | --- | --- | --- | | 名称 | 韵达控股股份有限公司 2024 年 度第一期中期票据 | 简称 | 韵达股份 24 MTN001 | | 代码 | 102481756.IB | 期限 | 2 ...

证券代码：002120 证券简称：韵达股份 公告编号：2024-022 韵达控股股份有限公司 2024年3月快递服务主要经营指标快报 本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。 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露 （2023 年修订）》的规定，韵达控股股份有限公司（以下简称"公司"）2024 年 3 月快递服务主要经营指标情况如下： 一、公司 2024 年 3 月快递服务主要经营指标 | 项目 | 2024年3月 | 同比增长 | | --- | --- | --- | | 快递服务业务收入（亿元） | 39.89 | 8.84% | | 完成业务量（亿票） | 19.20 | 32.60% | | 快递服务单票收入（元） | 2.08 | -17.79% | 二、数据说明 1、随着快递行业运行整体保持畅通稳定、市场规模持续扩大、提质增效步 伐稳健、发展势头持续向好，公司服务质量不断提升、业务量不断增加。2024 年 3 月，公司完成业务量 19.20 亿件，同比增长 32.60%。 2、上述数据未经审计，可能会与定期报告数 ...

| 证券代码：002120 | 证券简称：韵达股份 公告编号：2024-021 | | --- | --- | | 债券代码：127085 | 债券简称：韵达转债 | 韵达控股股份有限公司 关于可转换公司债券2024年付息的公告 本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。 特别提示： 1、"韵达转债"将于 2024 年 4 月 11 日按面值支付第一年利息，每 10 张债券 （面值 1,000 元）利息为 2.00 元（含税）； 2、债权登记日：2024 年 4 月 10 日（星期三）； 3、除息日：2024 年 4 月 11 日（星期四）； 4、付息日：2024 年 4 月 11 日（星期四）； 5、"韵达转债"票面利率为：第一年 0.20%、第二年 0.40%、第三年 0.60%、 第四年 1.50%、第五年 1.80%、第六年 2.00%； 6、"韵达转债"本次付息的债权登记日为 2024 年 4 月 10 日，凡在 2024 年 4 月 10 日（含）前买入并持有本期债券的投资者享有本次派发的利息；2024 年 4 月 10 日卖出本期债券的投资者 ...