中通快递-W(2057.HK):市场份额为首要目标 短期盈利承压

华泰证券
May 22, 2025

中通快递公布一季度业绩:收入108.9 亿元,同比增长9.4%;归母净利19.9亿元,同比增长39.8%(主因上年同期资产减值损失影响);调整后归母净利22.1 亿元,同比增长0.5%。经营数据方面,1Q25 公司快递件量同比增长19.1%,小幅低于行业件量增速21.6%,市场份额同比下降0.4pct 至18.9%,排名第一;单票收入1.25 元,同比下降7.8%。公司市场份额和单票收入下降主因...

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