Xiaomo: China Logistics Express continues to prefer “heavy, not heavy” and reverse internal volume, Polar Rabbit Express-W (01519)

The Zhitong Finance App learned that J.P. Morgan Chase released a research report saying that Jitu Express - W (01519) is the only company in China's logistics, express package and e-commerce industries that simultaneously beat expectations and raised guidelines, further strengthening its implementation premium and global layout. The bank ranked Jitu and Manbang (YMM.US) as the industry's first choice, followed by SF Holdings (06936). Xiaomo pointed out that in July, the volume of express parcels increased 4.1% year on year, express delivery revenue increased 8.1% year on year, and single ticket revenue increased 3.8% year on year, reflecting improved monetization in the industry and increased pricing discipline. The scale leaders Shentong Express (002468.SZ) and Yuantong Express (600233.SH) expanded their market share, while Yunda Express (002120.SZ) continued to lag behind.

According to the “15th Five-Year Plan” for China Post Express Delivery Industry, express delivery revenue will reach 2 trillion yuan and the volume will reach 270 billion pieces by 2030, which means a compound annual increase of about 6%. The bank believes that the policy focus is still on curbing internal competition and promoting quality, efficiency and value-added business, rather than simply pursuing volume growth.