SF Holding(SZ:002352) Hua Xia Shi Bao·2025-07-10 13:12Group 1 - The express delivery industry in China continues to maintain high growth, with the volume of express deliveries exceeding 100 billion pieces by July 9, 2023, 35 days earlier than expected for 2024 [2] - The rapid growth is attributed to policies aimed at expanding domestic demand and promoting consumption, particularly the "old-for-new" replacement policy for consumer goods [2][3] - The express delivery sector has achieved a significant scale economy effect, enhancing its ability to drive industrial and economic growth [2] Group 2 - The integration of the express delivery industry with manufacturing and other sectors has expanded its service scope and development space, with over 1,600 key projects generating more than 1 million yuan in revenue [2] - The widespread application of technologies such as 5G, IoT, and AI is accelerating the intelligent upgrade of the express delivery industry [3] - The industry is facing intense competition, leading to ongoing price wars that have affected service quality [3][4] Group 3 - In the first five months of 2025, the average price of express delivery services was 7.5 yuan, a year-on-year decrease of 8.2%, with the first quarter seeing an average price of 7.7 yuan, down 8.8% [4] - Despite calls to avoid price wars, companies are compelled to lower prices to gain market share, significantly impacting firms like SF Express, which reported a 3.4% decline in average revenue per ticket [4] Group 4 - Recent government initiatives aim to combat "involutionary" competition in the express delivery sector, emphasizing the need for improved industry regulation and service quality [5]