In August 2024, the express business volume reached 14.38 billion pieces, up by +19.5% (new calculation method) year-on-year. From January to August 2024, the express volume reached 108.8 billion pieces, up by +22.5% year-on-year, with the express volume growth rate still maintaining a moderate pace of growth.

Looking at it by type, cross-regional comparisons increased by +30.5%; looking at it by region, the eastern express delivery increased by +23.7% year-on-year.

CICC Leasing released a research report stating that in August, the number of express deliveries in China increased by 20% year-on-year, with TTK Express continuing to expand its market share, and prices showing a good seasonal trend.

Due to policy support, express operators are operating at almost full capacity. Network partners are increasingly focused on profitability, and it is expected that in some regions there will be significant price increases during this peak season.

Historically, the price increase range is 0.1-0.2 RMB, with Yiwu and Chaoshan areas already starting to raise prices.

HTSC pointed out that in August, the national retail sales of consumer goods/physical commodity online retail sales/express volume increased by +2.1%/+4.1%/+19.5% year-on-year, and the growth rates of the three indexes all declined month-on-month. It is estimated that the average transaction value of e-commerce has decreased, and the growth rate of express volume is the most resilient among the three.

Additionally, in August, there are signs of stabilization and rebound in the average price of express deliveries.

The Post Office called for 'anti-inner loop' while facing its own cost pressures. Spontaneous price increases have emerged in Guangdong region, Chaoshan and other areas have raised prices one after another, and the price range continues to expand, driving market sentiment to turn optimistic.

Price hikes are expected to continue until the November 11 shopping festival and resonate with the peak season; HTSC research recommends actively participating in the express delivery sector.

Express logistics related companies:

JD Logistics (02618), Sinotrans Limited (00598), ZTO Express-W (02057), ANE Logistics (09956), cn logistics (02130), SF Same City (09699), YTO Intl Exp (06123), Jitu Express (01519), etc.