Sou Hu Cai Jing·2025-08-12 09:13Core Viewpoint - The recent increase in express delivery base prices in Guangdong and Yiwu reflects concerns over the intense competition and low profitability in the express delivery industry, which has led to a downward trend in per-package revenue for major companies [1][2][3]. Group 1: Price Adjustments - Starting from August 4, the base price for express delivery in Guangdong has been raised by 0.4 yuan per package, bringing the average price to over 1.4 yuan [1]. - Yiwu also raised its express delivery base price by 0.1 yuan to 1.2 yuan starting July 18 [1]. - The overall express delivery costs have increased by approximately 0.4 yuan, although delivery personnel have not yet received news of a corresponding increase in their compensation [1]. Group 2: Revenue Trends - Major express companies, including Shentong, Yunda, Zhongtong, and Yunda, have seen a significant decline in per-package revenue, with figures for 2024 projected at 2.05 yuan, 2.3 yuan, 1.21 yuan, and 2.01 yuan respectively, representing a decrease of about 30% to 40% compared to 2019 [3]. - In June, Shentong and Yunda reported further declines in per-package revenue, dropping below the 2 yuan mark to 1.99 yuan and 1.91 yuan respectively, while Zhongtong decreased to 2.1 yuan [5]. - SF Express maintains a relatively stable per-package revenue of around 15 to 16 yuan, but has also experienced a decline of 11% to 14% compared to the previous year due to industry price wars [5][12]. Group 3: Delivery Challenges - The continuous decline in per-package revenue has led express companies to implement cost control measures, including reducing delivery fees for last-mile services [7]. - The delivery personnel face pressure to choose between home delivery and depositing packages at collection points, with a significant increase in the use of collection points, reaching a 72% entry rate in 2022 [11]. - Complaints regarding non-delivery to specified addresses have surged, with over 19,000 complaints related to this issue, highlighting the challenges in balancing delivery efficiency and service quality [11]. Group 4: Impact on Low-Cost Merchants - The recent price adjustments in express delivery services are expected to significantly impact low-cost merchants, as the low logistics cost is crucial for their survival [15]. - Merchants have indicated that a delivery cost exceeding 3 yuan is no longer sustainable for their profit margins, as the historical rate has been around 1 yuan for small packages [15].