According to Zhito Finance APP, benefiting from this year's e-commerce "November 11 shopping festival" occurring earlier, several listed express companies reported year-on-year growth in express business revenue in October: yto express group, sto express co.,ltd., yunda holding, and s.f. holding saw revenue growth of 26.94%, 24.86%, 16.58%, and 16.16% respectively. From an overall industry perspective, the "November 11 shopping festival" e-commerce promotion has closed, with package volume presenting a rapid growth trend, and the logistics business has entered its peak season for the year, making the performance of express companies in the fourth quarter something to anticipate. Related symbols: zto express (02057), yto intl exp (06123), jitu express (01519), s.f. city (09699).

Specifically, on November 19, yto express group announced its main operating data for express business in October 2024. Express product revenue was 5.704 billion yuan, a year-on-year increase of 26.94%; completed volume was 2.473 billion orders, a year-on-year increase of 31.18%; express product revenue per order was 2.31 yuan, a year-on-year decrease of 3.23%.

The announcement from sto express co.,ltd. shows that the company's express service business revenue for October 2024 was 4.426 billion yuan, a year-on-year increase of 24.86%; the completed volume was 2.186 billion orders, a year-on-year increase of 30.35%; revenue per order for express services was 2.03 yuan, a year-on-year decrease of 3.79%.

The announcement from yunda holding indicates that the company's express service business revenue for October 2024 was 4.535 billion yuan, a year-on-year increase of 16.58%; the completed volume was 2.25 billion orders, a year-on-year increase of 31.81%; revenue per order for express services was 2.02 yuan, a year-on-year decrease of 11.40%.

On November 18, s.f. holding announced that in October 2024, the combined revenue from the company's express logistics business, supply chain, and international business was 24.096 billion yuan, a year-on-year increase of 16.16%.

In addition, jitu express released its Singles' Day battle report on November 14, showing that its global order package volume exceeded 0.1 billion pieces in a single day on November 12.

The annual "November 11 shopping festival" e-commerce promotion has concluded, and the logistics business has entered its peak season for the year. Data from the State Post Bureau indicates that from October 21 to November 10, the national express collection volume was approximately 12.082 billion packages, a year-on-year increase of 21.4%, and the cumulative delivery volume was about 12.124 billion packages, a year-on-year increase of approximately 25.3%; the average daily business volume exceeded 0.55 billion packages, with the highest daily processing volume reaching 0.729 billion packages, a year-on-year increase of 74%, breaking the daily business volume record.

The relevant person in charge of the State Post Bureau stated that since the beginning of this year, the annual business volume of express delivery in china has first exceeded 150 billion pieces. The continuous expansion of the express delivery market scale benefits from the driving force of bullish macro policies. Various departments and regions have released support policies to promote consumer spending and expand domestic demand, seizing the opportunity for large-scale equipment upgrades and the replacement of old consumer goods, constantly enriching consumption scenarios, tapping into lower-tier markets, consolidating the current positive development trend, and driving strong growth in express delivery volumes.

Meanwhile, thanks to increasingly improved top-level design, an efficient service network, and the widespread application of intelligent technology, express delivery companies are continually improving infrastructure construction, actively deploying advanced technological equipment such as unmanned vehicles, drones, and smart sorting systems. The transportation and transfer capacity of the industry is increasingly enhanced, the network system is gradually improving, and service efficiency and quality are effectively enhanced.

In addition, according to calculations by the State Post Bureau, the express delivery development index for china in October 2024 is 464.4, a year-on-year increase of 21.1%. The development scale index, service quality index, development capability index, and development trend index are 583.7, 703.8, 236.6, and 72.1 respectively, with year-on-year increases of 31.1%, 20.9%, 3.7%, and 6%. In October, the industry enters a peak business season, with a noticeable acceleration in business growth, efficient operation of the delivery network, deepening industrial collaboration, and improvements in cross-border service capabilities.

Everbright pointed out that in terms of price, since September, express delivery "grain production areas" franchisees in regions such as Yiwu, Chaoshan, and Shenzhen-Dongguan have implemented varying price increases for different customers. The business volume of express delivery has rebounded somewhat, and short-term industry competition is expected to ease.

Industrial Securities stated that for direct-selling express delivery s.f. holding, although there have been twists and turns in operational reforms at the cost end, it will still realize effects of cost reduction and efficiency enhancement. In the e-commerce express sector, attention should be paid to the current comparative value of the industry. The industry demand is good, performance growth is solid, and valuation is low, suggesting that there is room for improvement in both performance and valuation. In the medium to long term, it is advised to downplay the industry evolution paths and focus on the industrial value of the express delivery sector. Express delivery has strong positive externalities; the ratio of express delivery costs to e-commerce average order value is far lower than the contribution of express delivery to the online retail supply chain, and it is expected that the industrial value of express delivery will continue to strengthen.

Related concept stocks:

ZTO express (02057): On November 20, zto express released its third-quarter results for 2024, with revenue of 10.675 billion yuan, an increase of 17.62% year-on-year; net income of 2.379 billion yuan, an increase of 1.25% year-on-year; and net income attributable to zto express (Cayman) limited of 2.396 billion yuan, an increase of 2.18% year-on-year.

YTO intl exp (06123): On November 19, yto express group announced the main operational data of its express delivery business for October 2024. The revenue from express products was 5.704 billion yuan, a year-on-year increase of 26.94%; the business completion volume was 2.473 billion orders, a year-on-year increase of 31.18%; the revenue per express product order was 2.31 yuan, a year-on-year decrease of 3.23%.

Jitu Express (01519): On November 14, Jitu Express released its singles' day sales report, which showed that its global order parcel volume exceeded 0.1 billion pieces in a single day on November 12.

S.F. Holding (09699): On November 18, S.F. Holding announced that the total revenue of its express logistics business, supply chain, and international business in October 2024 would be 24.096 billion yuan, a year-on-year increase of 16.16%.