On March 20, four A-share express delivery companies released their operating data in February. During the reporting period, YTO Express held the "first place" in the "two deals and One delivery" of A-shares, with A business volume of 1.241 billion tickets (some with more than one ticket) and a business income of 3.144 billion yuan. The data of STO Express and Yunda shares are relatively similar, with business volume of 1.040 billion and 1.065 billion respectively, and business revenue of 2.341 billion and 2.434 billion yuan respectively.
Sf Holdings, the "first brother" of the express delivery industry, achieved a revenue of 12.666 billion yuan in February, with a business volume of 778 million tickets, and an operating income of 4.599 billion yuan in supply chain and international business. In the first two months of 2024, the company's combined revenue of express logistics business, supply chain and international business increased by 7.64% year-on-year.
Layout low - level logistics
The industry believes that due to the dislocation of the traditional off-season and the Spring Festival holiday, the business data of express delivery enterprises in February is not comparable to the same period. However, combined with the data analysis from January to February, the express delivery industry still maintained a relatively solid growth.
China's postal sector delivered 26.26 billion parcels in the first two months of this year, up 25.1 percent year on year, according to monitoring data from the State Post Bureau. Among them, the volume of express delivery reached 23.26 billion, up 28.5 percent year-on-year.
Zhang Xiaorong, president of Deepin Science and Technology Research Institute, told Securities Daily: "This year, the express logistics industry has started well, and the industry has accelerated its shift to high-quality development. Among them, low-altitude logistics has opened up a new dimension of competition in the industry."
In March this year, low-altitude economy was written into the Government Work Report for the first time, and express logistics, as one of the important fields of low-altitude economy application, is entering the threshold of commercialization of UAV cargo and distribution.
It is reported that Fengyi Technology, SF's terminal delivery UAV company, has realized the regular operation of some routes in Shenzhen. By the end of 2023, the country has flown more than 4 million kilometers, and the transportation has exceeded 800,000 flights. Jd's UAV logistics project focuses on terminal distribution in remote areas, and effectively solves the "last mile" problem by designing accurate docking between drones and unmanned vehicles.
Zhe Shang Securities research report shows that the low-altitude economy will significantly drive the traditional general aviation manufacturing, emerging urban air traffic, industrial drones, express logistics and other fields. Among them, express logistics will be the application field with the fastest growth in market size.
Competition for terminal services is intensifying
On March 1, the newly revised Measures for the Management of the Express Delivery Market were formally implemented. It stipulates that enterprises operating express business shall not confirm the receipt of express on behalf of the user without the consent of the user, and shall not deliver the express to the intelligent express box, express service station and other express terminal service facilities without authorization.
In the long run, the implementation of the new express delivery regulations can promote the improvement of the express delivery industry in terms of market positioning, business model, green development, social security system and other aspects.
"The new rules have undoubtedly brought greater challenges to express companies in the terminal service links, and express companies with perfect service systems are expected to expand their business advantages and help them further improve their market share and market competitiveness," Liu Youhua, deputy director of the research department of Diaodiao.com Fortune, told Securities Daily.
On March 4, STO Express said on the investor interactive platform that according to the relevant requirements of the express market management measures, the company will further focus on "service experience", improve the performance ability through digital intelligence, improve the user service experience, and segment service products.
Liu Youhua believes that the newly revised "Express Market Management Measures" put more emphasis on the service quality of express companies, and put forward higher requirements for the service awareness and communication skills of couriers. Express delivery enterprises should strengthen the professional training and management of express delivery staff, improve service quality and service awareness, increase technological innovation, optimize distribution network and process, and reduce distribution cost and time.
Our reporter Wang Jingru