"由于配送需求的增长，我后续又买了2辆，当然还是选择的江淮星锐。因为根据我这几年的使 用体验，不论是舒适性、操控体验，还是它的空间和节油表现，我都比较看好它。" 从第一辆江淮星锐开始，这位来自河南信阳的车主叶根伟便将配送业务的触角，深深扎入武汉 的大街小巷，在为人们日常生活提供便利的同时，也将自身的事业越做越红火。从1辆到3辆 的背后，叶根伟为何钟情于江淮星锐，下面跟随第一商用车网一起走近他的创富故事。 2元店到义乌小商品卖场 找寻财富密码 "罗马不是一天建成的"，正如人们在事业道路上的摸索，往往需要一个漫长的过程。对于来自 河南信阳的叶根伟而言，这条路则走得有些不同寻常。 "作为劳动力输出大省，河南每年外出务工的人员不计其数，信阳也同样如此。但是，随着在 外打工人口数量的增长，他们渐渐聚拢在一起，并且在日常生活方面，有着相类似的需 求。"据叶根伟介绍，这些外出务工的人因为赚得都是辛苦钱，所以，他们的日常需求无非是 从锅碗瓢盆到衣帽鞋架等，尽管日常生活中也有各种各样的需求，但是单品价格都不太高。于 是，便诞生了诸多2元店、10元店等形式的百货商店，叶根伟也是从这时进入了商贸行业。 "因为都是些生活用品，所以， ...

上 市 公 司 交通运输 2025 年 06 月 21 日 深圳国际 (00152) —— 国企优质资源禀赋，物流园转型升级带来业绩弹性 报告原因：首次覆盖 买入（首次评级） | 市场数据： | 2025 年 06 月 20 日 | | --- | --- | | 收盘价（港币） | 7.60 | | 恒生中国企业指数 | 8527.07 | | 52 周最高/最低（港币） | 8.15/5.68 | | H 股市值（亿港币） | 185.72 | | 流通 H 股（百万股） | 2,443.74 | | 汇率（人民币/港币） | 1.0949 | 一年内股价与基准指数对比走势： -13% 87% 06/20 07/20 08/20 09/20 10/20 11/20 12/20 01/20 02/20 03/20 04/20 05/20 06/20 HSCEI 深圳国际 资料来源：Bloomberg 相关研究 证券分析师 闫海 A0230519010004 yanhai@swsresearch.com 研究支持 郑逸欢 A0230124010001 zhengyh@swsresearch.com 联系人 郑 ...

Group 1 - The low-altitude logistics industry in China has seen a low level of investment and financing activity, with a significant increase in investment amount in 2021 to 680 million yuan, followed by a surge to 2.27 billion yuan in 2024 [1][8] - Investment rounds in the low-altitude logistics sector are primarily early-stage, focusing on A-round and angel financing, indicating that the industry is still in its developmental phase with many innovative companies seeking funding for technology development and market expansion [2][8] - The majority of financing events in the low-altitude logistics industry are concentrated in Zhejiang, Beijing, and Shanghai, with Zhejiang leading at 7 events, followed by Beijing with 3 and Shanghai with 2 [6][8] Group 2 - The primary focus of investment in the low-altitude logistics industry is on drone delivery, with several significant financing events recorded from 2016 to 2025 [8][9] - Investors in the low-altitude logistics sector are predominantly capital organizations, accounting for 92% of the investment, with notable investors including Sequoia China and Matrix Partners [5][8] - There are numerous industry investment funds related to low-altitude logistics, although no private equity funds specifically for low-altitude logistics have been identified [12][8] Group 3 - Vertical acquisitions to expand business areas have become mainstream in the low-altitude logistics industry, with several notable mergers and acquisitions recorded from 2016 to 2025 [15][8] - The overall investment and merger activity in the low-altitude logistics industry remains low, with a concentration of investments from capital institutions primarily in Zhejiang, Beijing, and Shanghai [8][16]

Group 1: Logistics Infrastructure Development - The YTO Express Northern Headquarters Phase II project in Langfang, Hebei, has increased its daily processing capacity from 6 million to 12 million packages since its launch at the end of last year [1] - The Shijiazhuang International Land Port has established a convenient international land logistics channel, allowing foreign trade goods to be declared on-site and directly exported via the China-Europe Railway Express [2][3] - The Hebei province has been recognized for its logistics infrastructure, with several cities selected as national backbone cold chain logistics bases and postal express hubs [5] Group 2: Economic Impact and Growth - The logistics sector in Hebei is projected to contribute significantly to the province's economic growth, with a reported increase in the added value of the commercial logistics industry to 733.91 billion yuan, a year-on-year growth of 4.8% [8] - The express delivery business volume in Hebei reached 9.54 billion pieces, marking a year-on-year increase of 31.8% [8] - The establishment of the "Ring Capital One-Hour Fresh Agricultural Product Circulation Circle" has allowed for efficient distribution of agricultural products, with daily transport volumes accounting for over half of the market share in Beijing [4] Group 3: Industry Collaboration and Innovation - The Hebei province is developing a comprehensive supply chain service platform called "Jicheng Tong" to support the growth of local industrial clusters, aiming to reduce costs and improve efficiency for enterprises [8] - The Hebei Runwo Smart Logistics Industrial Park has improved raw material delivery times from 7 days to just over 3 days, enhancing inventory turnover rates by 50% [7] - The integration of logistics services with local industries is being emphasized, as seen in the establishment of a full-chain system in the Gu'an International Trade City, which has attracted over 70 logistics companies [7]

Group 1 - The 2025 Langfang International Economic and Trade Fair showcased an efficient global supply chain logistics system, exemplified by fresh Norwegian salmon arriving within 24 hours of being caught [1] - The fair took place from June 16 to June 20, coinciding with China's major e-commerce platforms' "618" promotional event, which significantly increased online shopping volumes and put the logistics system under peak operation [1] - The China Logistics and Purchasing Federation reported that the total social logistics volume in 2024 reached 360.6 trillion yuan, with a year-on-year growth of 5.8% [1] Group 2 - The "Action Plan for Effectively Reducing Social Logistics Costs" issued by the Central Committee of the Communist Party of China and the State Council aims to lower the ratio of social logistics costs to GDP to around 13.5% by 2027 [2] - The plan emphasizes the importance of reducing social logistics costs to improve economic efficiency, highlighting the potential for significant reductions compared to individual enterprise cost control [2] - The Ministry of Commerce and eight other departments launched a plan to accelerate the development of intelligent supply chains in key sectors such as agriculture, manufacturing, wholesale, and retail [2] Group 3 - The "Key Cases for Reducing Social Logistics Costs" were published, featuring 20 selected examples from over 200 global submissions, including Cainiao Group's "Global 5-Day Delivery" project [3] - The logistics and supply chain service market in China is evolving into a collaborative ecosystem characterized by "logistics channels + logistics hubs + industrial clusters," providing a comparative advantage over many developing countries [3] - The integration of intelligent technology in logistics is expected to accelerate the transition to intelligent supply chain services, enhancing efficiency and reducing costs across the logistics sector [3]

以下文章来源于DT商业观察 ，作者DT商业观察 DT商业观察 . 第一财经旗下年轻态财经商业媒体。关注消费、互联网、电商、文娱、科技、城市等领域，融合媒体和 研究机构的禀赋，厘清趋势和商业间的关系，用年轻化的视角认识商业世界。 今年 618，你收到了多少个快递？ 在竞争激烈的快递行业，物流服务已经如同水电网络一般融入日常，成为生活中看似平常，一旦掉链却 会造成极大不便的一部分。 而 618大促，成为检验物流能力的一个绝佳窗口。 适逢 618大促，第一财经开展了一次有关物流体验的问卷调研，讨论在快递服务十分普及的当下，消费 者对快递的核心期待是什么？谁又能抗住压力，满足这些期待？ 本次调研共收集2000份有效样本，调研结果显示，今年618期间，71.6%的消费者参与了618，其中京 东快递的覆盖率最高。 "快、上门、不丢件"是消费者对快递的TOP3诉求，京东快递综合满意度最高 快递行业卷了这么多年，行业已经高度成熟，但调研发现，消费者对快递的核心诉求，并没有太大的改 变。 送货快、送上门、不丢件，这些看似基础的物流服务，依然是当下消费者最核心、也最关乎体验的诉 求。 调研数据显示，在今年 618期间的物流服务中 ...

而 618大促，成为检验物流能力的一个绝佳窗口。 "快、上门、不丢件"是消费者对快递的TOP3诉求，京东快递综合满意度最高 快递行业卷了这么多年，行业已经高度成熟，但调研发现，消费者对快递的核心诉求，并没有太大的改 变。 送货快、送上门、不丢件，这些看似基础的物流服务，依然是当下消费者最核心、也最关乎体验的诉 求。 今年 618，你收到了多少个快递？ 在竞争激烈的快递行业，物流服务已经如同水电网络一般融入日常，成为生活中看似平常，一旦掉链却 会造成极大不便的一部分。 适逢 618大促，第一财经开展了一次有关物流体验的问卷调研，讨论在快递服务十分普及的当下，消费 者对快递的核心期待是什么？谁又能抗住压力，满足这些期待？ 本次调研共收集2000份有效样本，调研结果显示，今年618期间，71.6%的消费者参与了618，其中京 东快递的覆盖率最高。 调研数据显示，在今年 618期间的物流服务中，75.7%的消费者将 "极速配送，如当日/次日达"列为首 要需求， 71.9%的人看重 "送货上门，无需自提"， 69.1%的人则关注 "包裹安全，不出现丢件、破损等 情况"。 相比之下，预约上门 （ 27.2%） 、冷链保鲜 ...

Core Insights - The commercialization of unmanned logistics vehicles has entered stages 1 to 10, with leading manufacturers expected to see a significant increase in order volumes, expanding application scenarios from express delivery to retail distribution [1][6] - Level 4 autonomous vehicles are accelerating their application in the logistics sector, primarily in last-mile delivery [1] Market Overview - The stock market size for urban distribution vehicles is approximately 30 million units (excluding three-wheeled vehicles), with annual sales between 3 million to 4 million units [2] - The annual revenue for urban distribution logistics is around 3 trillion yuan, covering various scenarios such as express delivery, fresh produce, and cold chain logistics [2] Cost Efficiency - The cost of unmanned delivery vehicles has significantly decreased, with prices dropping from over 1 million yuan in 2018 to below 100,000 yuan today, allowing for cost recovery within a year [3][5] - In last-mile delivery, labor costs account for over 80% of expenses, while in trunk logistics, labor costs are about 10%, highlighting the potential for cost savings through automation [2] Technological Advancements - The shift from a multi-lidar and camera setup to a more cost-effective vision-based system has contributed to the reduction in hardware costs, with a projected decline of over 80% from 2023 to 2025 [5] - The new technology approach enhances safety and adaptability in various weather conditions, making it suitable for logistics applications [5] Policy Support - Government policies, including road rights opening and supportive management measures, are facilitating the application of unmanned vehicles in logistics, accelerating the establishment of standards and regulations [5]

Core Viewpoint - The high cost of express delivery is significantly impacting fruit farmers, leading to a situation where logistics expenses exceed the selling price of the produce, thus threatening their income and harvest dreams [7][8][22]. Group 1: Current Situation - In Guangdong's Maoming, the cost of shipping 12 kilograms of lychee to Heilongjiang is 168 yuan, while the selling price is only 78 yuan, illustrating the issue of "the fruit is less expensive than the shipping cost" [7][8]. - Similar situations have been reported in other regions, such as Shandong, where cherries are sold for 20 yuan with a shipping cost of 50 yuan, and logistics costs account for over 40% of the sales price of Hainan mangoes sold online [9][10]. Group 2: Impact on Farmers - The high logistics costs are causing a "bumper harvest without profit" scenario for many farmers, as they struggle to cover shipping expenses [8][11]. - The disparity in shipping discounts between large and small farmers exacerbates the problem, with larger farmers receiving better rates, pushing smaller farmers into a more challenging market position [14][15]. Group 3: Industry Responsibility - Major express companies, such as SF Express, charge additional fees for fresh produce, which contrasts sharply with competitors like JD and postal services that do not impose such fees [13]. - There is a call for leading companies to take social responsibility and provide discounts to farmers, as the current pricing structure is unsustainable for rural economic development [16][18]. Group 4: Proposed Solutions - To address the logistics cost issue, the government should implement financial subsidies specifically for agricultural product distribution and establish a special fund for shipping cost subsidies [19][20]. - Introducing more market participants to break monopolies and increase competition could help drive down logistics costs, while express companies should also adopt policies that benefit farmers [21][22].

Core Insights - The company, Cainiao International, has achieved significant breakthroughs in its logistics and technology business, winning full-chain logistics projects with local leading and cross-border platform-level clients in multiple overseas markets [1] - There has been a notable increase in cross-border shipment volumes in regions such as Latin America and Asia-Pacific [1] - The company has accelerated its technological expansion overseas, securing multi-million dollar automation projects in the Middle East [1] - An announcement regarding a major development in the Middle East is expected next week from the company's official overseas account [1]