news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Yangtze Business Daily News●Huang Cong, reporter of Yangtze Business Daily

Since 2024, my country's postal express industry has continued to develop rapidly, and the performance of express delivery companies has continued to improve.

Data from the State Post Bureau show that as of August 13, my country's express delivery volume in 2024 has exceeded 100 billion pieces, 71 days ahead of reaching 100 billion pieces in 2023.

The Yangtze Business Daily reporter found that my country's express delivery companies as a whole showed the characteristics of "increasing volume and decreasing prices". For example, from January to June 2024, Shentong Express (002468.SZ) has seen an increase in business volume and a decrease in service per-ticket revenue for four consecutive months, except for February.

Some industry insiders said that due to the influence of the Spring Festival in February, the revenue of express delivery companies generally declined, but increased significantly in other months. "The revenue per express delivery service ticket declined because the industry price war continued, but overall, the performance of express delivery companies increased, which is also conducive to reducing logistics costs."

At the same time, a reporter from the Yangtze Business Daily found that the first-quarter revenues of STO Express, YTO Express (600233.SH) and Yunda Express (002120.SZ) all exceeded 10 billion yuan, and ZTO Express (02057.HK, NYSE: ZTO) was also close to 10 billion yuan.

As a leading enterprise in the logistics industry, SF Holding (002352.SZ) achieved operating income of 65.341 billion yuan in the first quarter, a year-on-year increase of 7.03%. It is worth mentioning that the company is expected to become the first "A+H" listed company in the express delivery industry.

STO Express has seen “increase in volume and decrease in price” for four consecutive months

Data from the State Post Bureau show that as of August 13, my country's express delivery volume in 2024 has exceeded 100 billion pieces, 71 days ahead of the target of 100 billion pieces in 2023. This year, my country's postal express delivery industry has continued to develop rapidly, with an average monthly express delivery volume of more than 13 billion pieces and an average monthly express delivery revenue of more than 100 billion yuan, both of which are record highs.

The State Post Bureau stated that since 2024, express delivery companies have continued to increase investment in infrastructure, increase cold chain transportation, and promote efficient connection between places of origin and consumer markets, making rural delivery services faster and more accurate, especially in the central and western regions.

The latest data shows that the volume of express mail received and delivered in rural areas of my country has increased more than 10 times in the past decade. So far, my country has built more than 1,200 county-level public delivery service centers and more than 300,000 village-level delivery logistics integrated service stations, and has established a relatively complete rural delivery logistics system.

Recently, STO Express released its June operating report showing that the company's express service revenue reached 3.941 billion yuan, a year-on-year increase of 17.28%; the business volume completed was 1.965 billion tickets, a year-on-year increase of 29%; the express service per-ticket revenue was 2.01 yuan, a year-on-year decrease of 9.05%.

Overall, STO Express's operating performance in June showed a situation of "increased volume and decreased prices".

A reporter from the Yangtze Business Daily also found that from January to June 2024, except for February, STO Express has seen "increased volume and reduced prices" for four consecutive months.

In January 2024, STO Express completed a business volume of 1.81 billion tickets, a year-on-year increase of 124.53%; the revenue per express service ticket was 2.19 yuan, a year-on-year decrease of 18.89%.

In February, STO Express completed a business volume of 1.04 billion parcels, a year-on-year decrease of 15.36%; the revenue per parcel of express service was 2.25 yuan, a year-on-year decrease of 7.02%.

From March to June, the revenue per express ticket of STO Express was RMB 2.10, RMB 2.05, RMB 2.01 and RMB 2.01 respectively.

Some industry insiders said that due to the influence of the Spring Festival in February, the revenue of express delivery companies generally declined, but increased significantly in other months. "The revenue per express delivery service ticket declined because the industry price war continued, but overall, the performance of express delivery companies increased, which is also conducive to reducing logistics costs."

Data shows that in the first quarter of 2024, STO Express achieved operating income of 10.132 billion yuan, a year-on-year increase of 15.87%; net profit of 190 million yuan, a year-on-year increase of 43.20%.

ZTO Express's quarterly revenue is close to 10 billion

In fact, STO Express's characteristic of "increased volume and reduced prices" is currently a common phenomenon in the industry.

Recently, YTO Express announced that the company's express product revenue in June reached 4.963 billion yuan, a year-on-year increase of 16.88%; the business volume completed reached 2.202 billion tickets, a year-on-year increase of 22.85%; the revenue per express product ticket reached 2.25 yuan, a year-on-year decrease of 4.85%. Like STO Express, the company's revenue increased in volume and decreased in price.

In the first quarter of 2024, YTO Express achieved operating income of 15.427 billion yuan, a year-on-year increase of 19.46%; net profit of 943 million yuan, a year-on-year increase of 4.14%.

Yunda Express's operating performance was "exactly the same". In June, the company's express service revenue was 4.037 billion yuan, a year-on-year increase of 10.15%; the business volume completed was 2.023 billion tickets, a year-on-year increase of 27.96%; the express service per ticket revenue was 2 yuan, a year-on-year decrease of 13.79%.

In the first quarter of 2024, Yunda Express achieved operating income of 11.156 billion yuan, a year-on-year increase of 6.50%; net profit of 412 million yuan, a year-on-year increase of 15.02%.

Among the “Three Links and One Delivery”, ZTO Express, as a company listed on the Hong Kong and US stock markets, did not release an operating briefing.

In terms of performance, in the first quarter of 2024, ZTO Express achieved operating income of 9.96 billion yuan, an increase of 10.9% compared with 8.983 billion yuan in the same period last year; net profit was 1.448 billion yuan, a decrease of 13.0% compared with the net profit of 1.665 billion yuan in the same period last year.

However, not in accordance with US generally accepted accounting principles (excluding equity incentive expenses and non-recurring items), ZTO Express's adjusted EBITDA (defined as net profit excluding discounts, amortization, interest expenses and income tax expenses) in the first quarter was 3.66 billion yuan, an increase of 16.8% compared with 3.133 billion yuan in the same period last year; adjusted net profit was 2.224 billion yuan, an increase of 15.8% compared with 1.92 billion yuan in the same period last year.

ZTO Express also disclosed that the company's parcel delivery volume in the first quarter was 7.171 billion pieces, an increase of 13.9% compared with 6.297 billion pieces in the same period last year.

Overall, the first-quarter revenue of STO Express, YTO Express and Yunda Express all exceeded 10 billion yuan, and ZTO Express was also close to 10 billion yuan.

SF Holding is expected to achieve "A+H" listing

As a leading company in the logistics industry, SF Holdings has also maintained its “volume increase and price reduction” strategy.

Recently, SF Holding announced that the company's express delivery business volume reached 1.108 billion tickets in June, an increase of 8.95% year-on-year; the revenue per ticket reached 15.77 yuan, a decrease of 3.96% year-on-year; the operating income of the express logistics business reached 17.473 billion yuan, an increase of 4.60% year-on-year.

It is worth mentioning that SF Holding's supply chain and international business revenue reached 5.672 billion yuan in June, an increase of 11.04% year-on-year.

It is understood that SF Holdings' supply chain and international business mainly includes the company's international express delivery, international freight and forwarding, and supply chain business segments.

SF Holding said that the 2024 e-commerce 618 promotion was brought forward from June to May, driving the peak season of express delivery business forward to May, resulting in a relatively slow year-on-year growth in June. At the same time, with the stabilization of international air and sea freight demand and the year-on-year increase in freight rates, as well as the company's deepening of business integration and continuous expansion of supply chains and international markets, the company's supply chain and international business revenue increased significantly.

In the first quarter of 2024, SF Holding's operating income reached 65.341 billion yuan, a year-on-year increase of 7.03%; net profit reached 1.912 billion yuan, a year-on-year increase of 11.14%.

SF Holding said that the company is currently at a turning point of high-quality sustainable growth. The company has passed the peak of capital expenditure and has taken a number of measures to reduce costs and increase efficiency. The scale of the company's new business continues to grow and achieve break-even. Further growth of related businesses in the future will bring increased profits.

It is worth mentioning that in June 2024, SF Holding issued an announcement stating that the company recently received a filing notice from the China Securities Regulatory Commission.

This means that SF Holding has taken an important step towards listing on the Hong Kong stock market. If the listing in Hong Kong is successful, the company will become the first "A+H" listed company in the express delivery industry.

Visual China Image