YUNDA Corp.(SZ:002120) Mei Ri Jing Ji Xin Wen·2025-04-28 12:38Core Viewpoint - Yunda Co., Ltd. reported a strong performance in 2024, with significant growth in business volume and net profit, despite facing intense competition and regulatory challenges in the express delivery industry [1][3][9]. Financial Performance - In 2024, Yunda achieved a total business volume of 23.783 billion parcels, a year-on-year increase of 26.14% [1][3]. - The company generated operating revenue of 48.543 billion yuan, up 7.92% from the previous year [1][3]. - Net profit attributable to shareholders reached 1.914 billion yuan, reflecting a growth of 17.77% [1][3]. - The profit margin improved, with total profit amounting to 2.613 billion yuan, a 19.52% increase year-on-year [3]. Competitive Landscape - Yunda maintained its position as the "third" player in the Tongda system, despite fierce competition from Shentong and Jitu [1][9]. - The company faced regulatory scrutiny from the State Post Bureau due to issues related to advertising materials in express deliveries [1][9]. - Yunda's single parcel revenue decreased by 12.3% to 2.01 yuan, which is among the lowest in the Tongda system [3][4]. Cost Management - Yunda reported a significant reduction in operational costs, with single parcel costs decreasing by 13% to approximately 1.83 yuan [3][4]. - The core operating cost per parcel was 0.68 yuan, down 21.9% year-on-year [3][4]. - The company implemented measures such as precise cargo forecasting and optimization of transportation routes to enhance efficiency and reduce costs [4]. Technological Advancements - Yunda is actively investing in AI and unmanned technologies, having deployed the DeepSeek model for operational data analysis [2][7]. - The company aims to enhance service quality and operational efficiency through a multi-layered technology strategy, integrating AI into various operational aspects [7][8]. - Despite a decrease in R&D investment to 293 million yuan, the company remains optimistic about the application of new technologies in the logistics sector [8]. Infrastructure and Network Expansion - By the end of 2024, Yunda established 73 optimized transfer centers and had over 47,750 first-level franchisees, achieving 100% franchise coverage [4]. - The company’s service network covers 31 provinces and municipalities, with over 95,000 end-point facilities [4]. Shareholder Changes - Alibaba reduced its stake in Yunda from 2% to 0.71% over the past year, indicating a shift in investment strategy [5].