According to the “China Digital Economic Development Research Report” released by the China Academy of Information and Communication Technology, in 2022, China's digital economy reached 50.2 trillion yuan, continuing to rank second in the world in terms of total scale, accounting for 41.5% of GDP. Among them, in China's digital economy, the scale of digital industrialization and industrial digitization reached 41 trillion yuan and 9.2 trillion yuan respectively, accounting for 33.9% and 7.6% of GDP respectively.

As of 2023, China's total social logistics costs were 18.2 trillion yuan, accounting for 14.4% of GDP, and logistics costs are at a high level. As a result, the demand for cost reduction and efficiency in China's road freight industry is increasing. It is estimated that by 2025, China's online freight platform market will reach nearly 700 billion yuan, with broad room for growth.

Currently, there are many participants in the online freight platform market in China, but leading companies compete fiercely, showing a pattern of unicorns fighting for supremacy. Among them, leading companies such as Manbang and Transanhua Zhilian have significant share advantages.

Galaxy Securities released a research report saying that with the rapid development of next-generation digital technologies such as AI, big data, and cloud computing, car-free carriers have gradually evolved into the form of online freight platforms.

As of 2023, China's total social logistics costs were 18.2 trillion yuan, accounting for 14.4% of GDP, and logistics costs are at a high level. As a result, the demand for cost reduction and efficiency in China's road freight industry is increasing. It is estimated that by 2025, China's online freight platform market will reach nearly 700 billion yuan, with broad room for growth.

Under the opportunities brought about by the accelerated development of China's digital economy, it is recommended to focus on logistics industry segments and targets related to main digital lines such as cross-border e-commerce logistics and digital freight.

Cross-border e-commerce logistics concept enterprise:

Sinotrans (00598): 1) The freight forwarding business is the traditional main business, with the dividend ratio industry leading; 2) benefiting from domestic companies going overseas, the freight forwarding business is expected to achieve a sharp increase in volume profit; 3) contract logistics is deeply involved in segmented fields to extend the service chain to increase the price per ton; 4) the cross-border e-commerce business is growing rapidly, and Sinotrans Dunhao is expected to benefit.

JD Logistics (02618): Following the launch of the “International Express Delivery” service in December last year, JD Logistics further upgraded the service on March 15, 2024. Currently, it has achieved collection coverage in most districts, counties and cities in China. Even consumers as far away as Xinjiang and Tibet can still achieve domestic delivery and overseas delivery; in addition, JD Logistics has further expanded overseas services, covering most countries in Europe and the US, and can also achieve the fastest “3-day delivery” in the world.

Zhongtong Express-W (02057): Zhongtong Express provides express delivery services from China to all parts of the world, including international transportation of documents, samples, and bulk goods. These services usually include customs clearance, international transportation, and delivery to the destination country. In order to improve logistics efficiency and customer experience, Zhongtong Express has set up overseas warehouses in some key international markets. These warehouses can be used to store products, achieve localized delivery, shorten delivery times, and reduce transportation costs.

Yuantong International Express (06123): Relying on “Oriental Tiandi Port”, Yuantong Trading has built a commercial service center, directly connected to overseas direct supply bases, and provides services such as global direct procurement, cross-border logistics, and product terminal sales.