Galaxy Securities pointed out that at the level of the express delivery sector, the current decline in new business formats such as e-commerce has become the main driving force, and is showing a significant trend of light and small parts. The results of anti-domestic policies continue to be unleashed. In many places, low price and disorderly competition has been rectified by setting a price bottom line and supporting fine mechanisms. With the further optimization of the industry pattern and the empowerment of intelligent connected vehicle technology, leading express delivery companies are making efforts to create differentiated competitive advantages, and high-quality development will continue to be the future development direction. In 2026, the 2B logistics industry may continue to benefit. The demand boost effect will be more significant, and the trend of positive volume and price performance will intensify. The competitive pattern of the superposition industry continues to be optimized and integrated, concentration continues to increase, leading companies' market share may increase steadily, and performance potential can be expected to be released.

Galaxy Securities pointed out that at the level of the express delivery sector, the current decline in new business formats such as e-commerce has become the main driving force, and is showing a significant trend of light and small parts. The results of anti-domestic policies continue to be unleashed. In many places, low price and disorderly competition has been rectified by setting a price bottom line and supporting fine mechanisms. With the further optimization of the industry pattern and the empowerment of intelligent connected vehicle technology, leading express delivery companies are making efforts to create differentiated competitive advantages, and high-quality development will continue to be the future development direction. In 2026, the 2B logistics industry may continue to benefit. The demand boost effect will be more significant, and the trend of positive volume and price performance will intensify. The competitive pattern of the superposition industry continues to be optimized and integrated, concentration continues to increase, leading companies' market share may increase steadily, and performance potential can be expected to be released.