Influenced by “Double 11” and “Black 5,” November is the peak season for express delivery business. Recently, four A-share express delivery companies revealed their November results. SF Express led the way in business volume growth. Shentong also reported a sharp increase in revenue after Dantao, and Yunda's business volume declined year-on-year. This shows that the performance of listed express delivery companies is clearly divided, and the industry is shifting from price and scale competition to value competition. The competitive landscape of the industry changed in the second half of the year. Cinda Securities believes that the industry pattern may accelerate differentiation, and the focus of competition will shift to differentiated services in the future.

Influenced by “Double 11” and “Black 5,” November is the peak season for express delivery business. Recently, four A-share express delivery companies revealed their November results. SF Express led the way in business volume growth. Shentong also reported a sharp increase in revenue after Dantao, and Yunda's business volume declined year-on-year. This shows that the performance of listed express delivery companies is clearly divided, and the industry is shifting from price and scale competition to value competition. The competitive landscape of the industry changed in the second half of the year. Cinda Securities believes that the industry pattern may accelerate differentiation, and the focus of competition will shift to differentiated services in the future.