消息面上，7月18日义乌邮政局召开会议，将快递价格下限上调0.1元人民币至1.2元人民币；8月4日起， 广东省快递底价整体上调0.4元/票，均价涨至1.4元以上。根据罗戈网报道，9月起涨价范围迅速扩大， 江苏、江西、湖南、湖北、河南、安徽、京津冀及辽宁等地的快递企业相继发布调价通知，加入涨价行 列，形成全国性联动趋势。 浙商证券研报指出，东南亚电商GMV增速快，叠加Tiktok市占率持续提升，带动极兔东南亚市占率走 强；公司于2022年进入中东和拉美等新市场，当前新市场电商渗透率仍较低，中期来看有望通过复刻东 南亚成功路径，新市场或成为公司继东南亚之后的下一个高速增长引擎；中国市场为境外市场输出先进 模式，快递反内卷提价带来的业绩弹性有望实现极兔中国市场下半年盈利超预期修复。 来源：智通财经网 极兔速递-W(01519)午后涨超5%，截至发稿，涨3.27%，报10.1港元，成交额5.62亿港元。 ...

Core Viewpoint - Jitu Express (01519) has seen a stock price increase of over 5%, currently trading at 10.1 HKD with a transaction volume of 562 million HKD, driven by recent price adjustments in the express delivery sector across China [1] Price Adjustments - On July 18, the Yiwu Postal Bureau raised the minimum express delivery price by 0.1 RMB to 1.2 RMB [1] - Starting August 4, the minimum express delivery price in Guangdong Province increased by 0.4 RMB per ticket, with the average price rising above 1.4 RMB [1] - In September, a nationwide trend of price increases was observed, with companies in Jiangsu, Jiangxi, Hunan, Hubei, Henan, Anhui, Beijing-Tianjin-Hebei, and Liaoning announcing price adjustments [1] Market Expansion and Growth Potential - According to Zheshang Securities, the rapid growth of e-commerce GMV in Southeast Asia, along with the increasing market share of TikTok, is strengthening Jitu's market position in Southeast Asia [1] - The company entered new markets in the Middle East and Latin America in 2022, where e-commerce penetration remains low, indicating potential for replicating its Southeast Asian success [1] - The Chinese market is expected to provide advanced operational models to overseas markets, with price increases in the express delivery sector likely to enhance Jitu's earnings recovery in the second half of the year [1]

Group 1 - Jitu Express-W (01519) saw its stock price increase by over 5%, currently trading at 10.1 HKD with a transaction volume of 562 million HKD [1] - The price floor for express delivery services has been raised in various regions, including a 0.1 RMB increase in Yiwu and a 0.4 RMB increase in Guangdong, leading to a national trend of price hikes [1] - Reports indicate that from September, the price increase trend has expanded to multiple provinces, including Jiangsu, Jiangxi, Hunan, Hubei, Henan, Anhui, Beijing-Tianjin-Hebei, and Liaoning [1] Group 2 - According to Zheshang Securities, the rapid growth of e-commerce GMV in Southeast Asia, along with the increasing market share of TikTok, is strengthening Jitu's market position in the region [1] - The company has entered new markets in the Middle East and Latin America since 2022, where e-commerce penetration remains low, suggesting potential for high growth by replicating its Southeast Asian success [1] - The price increases in the Chinese market are expected to enhance Jitu's earnings elasticity, potentially leading to better-than-expected profit recovery in the second half of the year [1]

Core Viewpoint - The express delivery company Jitu Express (极兔速递-W) has seen its stock price rise over 4% following news of price increases in the Shanghai region, indicating a potential recovery in the express delivery market driven by anti-competitive measures and price stabilization efforts [1] Company Summary - Jitu Express's stock rose by 4.21%, reaching HKD 9.91, with a trading volume of HKD 164 million [1] - The company, along with four others, announced a price increase for express delivery services in Shanghai effective from September 22, 2025, as part of a broader industry effort to combat low-price competition [1] Industry Summary - The price increase in express delivery services follows similar adjustments in Guangdong and Zhejiang, with over 80% of the market share in China having announced price hikes [1] - According to Zheshang Securities, the express delivery industry has seen a slight recovery in prices since August, with major listed companies reporting significant improvements in single-package revenue [1] - The upcoming peak season for the express delivery industry may lead to further increases in delivery fees, providing support for express delivery prices [1] - The anti-competitive pricing measures are expected to enhance the earnings elasticity for Jitu Express, potentially leading to better-than-expected profit recovery in the second half of the year [1]

Core Viewpoint - The express delivery company Jitu Express-W (01519) has seen its stock price increase by over 4%, reaching HKD 9.91, with a trading volume of HKD 164 million. This rise is attributed to the upcoming price adjustments in the Shanghai region following similar increases in Guangdong and Zhejiang provinces, indicating a trend towards price recovery in the express delivery industry [1]. Industry Summary - Following the announcement of price increases in various provinces, including Guangdong and Zhejiang, the Shanghai region is set to raise its express delivery prices starting September 22, 2025. This decision is part of a broader initiative to combat "involution" in the industry and stabilize market order [1]. - According to Zheshang Securities, over 80% of the market share in China has announced price increases. The express delivery industry has seen a slight recovery in prices since August, with major listed companies reporting significant improvements in single-package revenue. The upward trend in prices is expected to continue into September [1]. - The upcoming seasonal transition in the express delivery industry, coupled with the anticipated peak season, may lead to further increases in delivery fees. The price hikes are expected to have a sustainable impact, providing support for express delivery prices [1]. - The price adjustments resulting from the anti-involution measures in the Chinese market are likely to enhance the earnings elasticity for Jitu Express, with expectations for a significant recovery in profitability in the second half of the year [1].