Xin Lang Cai Jing·2025-08-24 11:23Group 1 - The core viewpoint is that the short-term "anti-involution" has led to significant changes in the stock prices of the express delivery sector, but from a medium to long-term perspective, achieving a balance through "anti-involution" is necessary to approach Pareto optimality without harming industry welfare [1] - The express delivery industry is currently experiencing a double-digit growth rate in volume, and as it transitions from an incremental to a stock market, the intensity of competition will be greater than in the incremental market [1] - The industry structure will require more time for optimization and assessment, and while the short-term "anti-involution" policies will help stabilize prices, achieving a balanced industry structure will take longer [1]