Hong Kong Stock Concept Tracking | Income of many express delivery companies increased year-on-year in October, worth looking forward to their performance in the fourth quarter (including concept stocks)

Benefiting from the early start of this year's "Double 11" e-commerce promotion, several listed express delivery companies saw a year-on-year increase in October express business revenue. YTO Express Group, STO Express Co., Ltd., Yunda Holding, and S.F. Holding saw business revenue increase by 26.94%, 24.86%, 16.58%, and 16.16% respectively. Overall, with the end of the "Double 11" e-commerce promotion, the industry saw a rapid increase in parcel volume, and the express delivery business entered its peak season for the whole year. The performance of express delivery companies in the fourth quarter is expected to be promising. Related stocks include ZTO Express (02057), YTO INTL EXP (06123), Best Logistics (01519), SF INTRA-CITY (09699). Specifically, on November 19, YTO Express Group announced its main operational data for October 2024. Express product revenue was 5.704 billion yuan, a year-on-year increase of 26.94%; business completion volume was 2.473 billion tickets, a year-on-year increase of 31.18%; express product revenue per ticket was 2.31 yuan, a year-on-year decrease of 3.23%. STO Express Co., Ltd. announced that the company's express service business revenue for October 2024 was 4.426 billion yuan, a year-on-year increase of 24.86%; completed business volume was 2.186 billion tickets, a year-on-year increase of 30.35%; express service revenue per ticket was 2.03 yuan, a year-on-year decrease of 3.79%. Yunda Holding announced that the company's express service business revenue for October 2024 was 4.535 billion yuan, a year-on-year increase of 16.58%; completed business volume was 2.25 billion tickets, a year-on-year increase of 31.81%; express service revenue per ticket was 2.02 yuan, a year-on-year decrease of 11.40%. On November 18, S.F. Holding announced that the total revenue from the company's express logistics and supply chain and international business in October 2024 was 24.096 billion yuan, a year-on-year increase of 16.16%. In addition, Best Logistics announced its Double 11 battle report on November 14, with data showing that its global order parcel volume exceeded 100 million on November 12. With the annual "Double 11" e-commerce promotion coming to an end, the express delivery business has entered its peak season for the whole year. Data from the State Post Bureau shows 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 approximately 12.124 billion packages, a year-on-year increase of approximately 25.3%. The daily average business volume exceeded 550 million, with the highest daily processing volume reaching 729 million, a year-on-year increase of 74%, breaking the record for single-day business volume. An official from the State Post Bureau stated that this year, China's annual express delivery volume has surpassed 150 billion packages for the first time. The continuous expansion of the express delivery market is driven by favorable macroeconomic policies. Various departments and regions have issued support policies to promote consumption and expand domestic demand, taking the opportunity to implement large-scale equipment upgrades and consumer goods renewal actions, continuously enriching consumption scenes, expanding into lower-tier markets, consolidating the current positive development trend, driving strong growth in express delivery business volume. At the same time, due to the increasingly mature top-level design, efficient and accessible service networks, and widespread application of intelligent technology, express delivery companies continue to improve infrastructure construction, actively deploy advanced technologies such as unmanned vehicles, drones, and intelligent sorting, enhancing the industry's transportation and transshipment capabilities, gradually improving the network system, and effectively improving service efficiency and quality. Moreover, according to calculations by the State Post Bureau, China's Express Development Index in October 2024 was 464.4, a year-on-year increase of 21.1%. The development scale index, service quality index, development capability index, and development trend index were 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 entered its peak season for business, with a noticeable acceleration in business growth, efficient operation of the postal network, continued deepening of industry synergy, and an improvement in cross-border service capabilities. EB SECURITIES pointed out that since September, express delivery franchisees in production areas such as Yiwu, Chaosan, and Shenzhen have achieved varying degrees of price increases for different customers. Express business volume has shown signs of recovery, and short-term industry competition is expected to ease. Industrial stated that for directly-operated express delivery companies like SF Express, although there have been twists and turns in cost-side operational changes, cost reduction and efficiency enhancement effects are still expected to materialize. In terms of e-commerce express delivery, it is important to focus on the industry's comparative value. Industries with good demand, good performance growth, and low valuations have room for both performance and valuation improvement. In the medium to long term, it is recommended to downplay industry evolution paths and focus on the industrial value of the express delivery sector. Express delivery has a strong positive externality, with the ratio of express delivery costs to e-commerce customer price much lower than the contribution of express delivery to online retail supply chains, 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, a year-on-year increase of 17.62%; net profit was 2.379 billion yuan, a year-on-year increase of 1.25%; net profit attributable to ZTO Express (Cayman) Limited was 2.396 billion yuan, a year-on-year increase of 2.18%. YTO INTL EXP (06123): On November 19, YTO Express Group announced its main operational data for October 2024. Express product revenue was 5.704 billion yuan, a year-on-year increase of 26.94%; business completion volume was 2.473 billion tickets, a year-on-year increase of 31.18%; express product revenue per ticket was 2.31 yuan, a year-on-year decrease of 3.23%. Best Logistics (01519): On November 14, Best Logistics released its Double 11 battle report, with data showing that its global order parcel volume exceeded 100 million on November 12. SF INTRA-CITY (09699): On November 18, S.F. Holding202410240.9616.16%Announcement: In October 2024, the total revenue of the company's express logistics business, supply chain, and international business amounted to 24.096 billion RMB, an increase of 16.16% year-on-year.Je suis dsol, je ne parle pas anglais.