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研報掘金丨太平洋證券:維持圓通速遞“增持”評級,快遞量增長超行業平均增速

太平洋證券研報指出,圓通速遞(600233.SH)24年歸母淨利40.12億,同比增+7.78%;2025年Q1扣非歸母淨利潤增8.1億,同比減-10.3%。分紅政策,公司24年擬派發現金股息約12.3億人民幣,每股約0.36元(含稅); 全年分紅1 次,約佔當年度淨利潤比例的30.7%。公司藉助科技化手段,引領綜合實力持續提升。24年業務數據亮點包括:快遞量同比增長25%,超行業平均增速;單票收入較去年小幅下降4.9%;航空板塊毛利率同比增加10個點;綜述,公司以精細化管控策略,有望確保未來的穩健發展和分紅。我們繼續推薦,維持“增持”評級。

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