为缓解一线快递员旺季工作压力，各地邮政管理部门督促寄递企业全面落实快递员群体权益保障工作， 确保合理劳动报酬，畅通诉求反映渠道。 国家邮政局相关负责人表示，为应对挑战，邮政行业积极强化与电商平台信息协同，通过优化邮快件处 理流程，确保运行更加平稳有序。同时，各寄递企业加大投入，在处理场所、设施设备、运力配置和信 息系统等方面进行升级，有效提升行业承载能力和运行效率。在快递末端，各寄递企业通过科技赋能、 资源整合、增派人员、调整班次等，进一步丰富快递末端服务模式，提升末端服务保障能力。 （文章来源：经济日报） 国家邮政局监测数据显示，今年"双11"期间快递业务量再创新高。10月21日至11月11日，全国邮政快递 企业共揽收快递包裹139.38亿件，期间日均揽收量达6.34亿件，是日常业务量的117.8%。旺季单日业务 量峰值达7.77亿件，刷新单日业务量纪录。快递市场规模持续扩大，展现了邮政快递业对促进消费升级 和实体经济增长的关键支撑作用。 今年"双11"，邮政行业在打造安全旺季、畅通旺季、暖心旺季的同时，还特别注重打造绿色旺季。各寄 递企业联合上游电商企业使用原发包装、免胶带纸箱和可循环包装，并加大新能源车 ...

为缓解一线快递员旺季工作压力，各地邮政管理部门还发布消费提示，呼吁公众对快递员给予更多理解 与包容。同时，督促寄递企业全面落实快递员群体权益保障工作，确保合理劳动报酬，畅通诉求反映渠 道，通过务实举措让快递员在工作中有更多的获得感与幸福感。 中新网11月12日电 据国家邮政局微信公众号消息，国家邮政局监测数据显示，10月21日至11月11日， 全国邮政快递企业共揽收快递包裹139.38亿件，期间日均揽收量达6.34亿件，是日常业务量的117.8%。 旺季单日业务量峰值达7.77亿件，刷新单日业务量纪录。快递市场规模持续扩张，展现了邮政快递业对 促进消费升级和实体经济增长的关键支撑作用。 再战旺季，邮政快递业持续平稳有序运行。为应对挑战，行业积极强化与电商平台信息协同，通过优化 邮快件处理流程，确保运行更加平稳有序。同时，各寄递企业加大投入，在处理场所、设施设备、运力 配置和信息系统等方面进行升级，有效提升行业承载能力和运行效率。在快递末端，各寄递企业通过科 技赋能、资源整合、增派人员、调整班次等，进一步丰富快递末端服务模式，提升末端服务保障能力。 在行业打造安全旺季、畅通旺季、暖心旺季的同时，今年"双11"还 ...

本报讯(记者寇佳丽)国家邮政局监测数据显示，10月21日至11月11日，全国邮政快递企业共揽收快递包 裹139.38亿件，期间日均揽收量达6.34亿件，是日常业务量的117.8%。旺季单日业务量峰值达7.77亿 件，刷新单日业务量纪录。快递市场规模持续扩张，展现了邮政快递业对促进消费升级和实体经济增长 的关键支撑作用。 为缓解一线快递员旺季工作压力，各地邮政管理部门还发布消费提示，呼吁公众对快递员给予更多理解 与包容。同时，督促寄递企业全面落实快递员群体权益保障工作，确保合理劳动报酬，畅通诉求反映渠 道，通过务实举措让快递员在工作中有更多的获得感与幸福感。 在行业打造安全旺季、畅通旺季、暖心旺季的同时，今年"双11"还特别注重打造绿色旺季。各寄递企业 联合上游电商企业使用原发包装、免胶带纸箱和可循环包装，并加大新能源车辆应用力度。 再战旺季，邮政快递业持续平稳有序运行。为应对挑战，行业积极强化与电商平台信息协同，通过优化 邮快件处理流程，确保运行更加平稳有序。同时，各寄递企业加大投入，在处理场所、设施设备、运力 配置和信息系统等方面进行升级，有效提升行业承载能力和运行效率。在快递末端，各寄递企业通过科 技赋能 ...

Core Viewpoint - The express delivery industry in China is experiencing significant growth, with a record number of packages collected during the peak season, highlighting its crucial role in supporting consumption upgrades and economic growth [1] Industry Performance - From October 21 to November 11, express delivery companies collected a total of 13.938 billion packages, with an average daily collection of 634 million packages, representing 117.8% of regular business volume [1] - The peak daily business volume reached 777 million packages, setting a new record for single-day collection [1] Operational Enhancements - To address challenges, the industry is enhancing information collaboration with e-commerce platforms and optimizing package processing workflows to ensure smooth operations [1] - Companies are increasing investments in processing facilities, equipment, transportation capacity, and information systems to improve operational efficiency and capacity [1] Last-Mile Delivery Innovations - Express delivery companies are enriching last-mile service models through technology empowerment, resource integration, additional personnel, and adjusted schedules to enhance service capabilities [1] Sustainability Initiatives - This year's "Double 11" event emphasizes creating a green peak season, with companies collaborating with upstream e-commerce firms to use original packaging, tape-free boxes, and recyclable packaging, while also increasing the use of new energy vehicles [1]

Core Insights - Yunda Holdings reported a revenue of 37.493 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 5.59%, with a net profit attributable to shareholders of 730 million yuan [1] - The company is a leading comprehensive express service provider in China, focusing on high-quality development and implementing a strategy centered on "intelligent logistics" and "green express" [1][2] - Yunda's express business volume reached 12.726 billion parcels in the first half of 2025, showing a year-on-year increase of 16.50%, indicating the effectiveness of its scale advantages [2] Company Strategy - The company emphasizes a development philosophy of "integrated network, co-construction, and sharing," leveraging technological innovation and refined management to enhance service quality and operational efficiency [1] - Yunda is implementing a multi-layered technology strategy termed "1+N+AI," focusing on the construction of package warehouses and grid warehouses to strengthen its operational capabilities [1][2] - The company is actively integrating advanced AI technologies to improve customer service and operational efficiency, including the development of systems like "Smile System" and "Xiao Da Robot" [2] Operational Enhancements - Yunda has ramped up its logistics infrastructure with multiple hubs, hundreds of package warehouses, and nearly 2,000 grid warehouses to ensure efficient service during peak seasons [3] - The company has introduced intelligent sorting and delivery technologies, including unmanned vehicles and drones, to enhance package handling efficiency and customer satisfaction [3] - The operational cost per parcel decreased by 15.62% year-on-year in the first half of 2025, reflecting the company's focus on cost control and efficiency improvements [2] Market Outlook - Analysts suggest that the recent "anti-involution" policies are expected to stabilize and improve express delivery pricing, particularly with the upcoming e-commerce peak season [2][3] - Yunda is positioned to benefit from these market dynamics, with expectations of profit recovery as competitive pressures ease [3]

中国商报（记者 蒋永霞）国家邮政局监测数据显示，截至10月11日，今年我国快递业务量已突破1500亿件，比2024年提前了37天。这一数字不仅标志着快 递业再攀新高峰，更是中国经济社会澎湃活力的生动缩影。 每一个穿梭于各地之间的"小包裹"，都是一个流动的经济细胞，连接着生产与消费、沟通着中国与世界，在服务构建全国统一大市场的进程中，迸发出令人 惊叹的"大能量"。 当前，我国快递业竞争与发展的逻辑正从高速增长向高质量发展转型。图为北京市西城区一快递便民服务点内，市民在取快递包裹。（图片由CNSPHOTO 提供） 更快突破1500亿件意味着什么 促进区域协调，优化资源配置。在青海、甘肃等地，新投产的邮件快件处理中心能力得到大幅度提高；在四川、陕西等地，通过政策扶持和资金投入，市级 分拨中心、县级配送中心、乡镇服务站等标准化建设不断加快。2025年上半年，我国中西部地区快递业务收入和业务量同比分别增长13.6%和25.5%，增速 明显高于全国平均水平。邮政快递业加强中西部基础设施建设，提高各类交通运输方式在重要节点与产业链供应链的有效衔接水平，促进商品和资源向欠发 达地区流动。 支撑实体经济，提升产业链韧性。快递服 ...

E-commerce and New Retail - AliExpress has opened its platform to local Polish merchants to expand its business in Poland and Europe, focusing on categories such as 3C digital products, home appliances, sports entertainment, and automotive parts [1] - JD.com has launched customized digital humans for brand merchants, leveraging JD Cloud technology to enhance live-streaming sales, which is expected to provide a competitive edge in the e-commerce market [2] Logistics and Supply Chain - The State Council's revised "Interim Regulations on Express Delivery" has been implemented, emphasizing green, reduced, and recyclable packaging, which will significantly impact the express delivery industry [3] - SF Express has increased its fleet of unmanned vehicles to 200, covering 38 major cities in China, enhancing delivery efficiency and reducing labor costs [4] - Taobao and Tmall have introduced a logistics service brand "Express Door-to-Door" in collaboration with SF Express, aiming to optimize logistics services and improve competitiveness in the e-commerce market [5] - JD.com is expanding its delivery workforce to 150,000 full-time riders, having already surpassed 100,000, in response to a surge in daily order volume exceeding 25 million [6] Investment and Innovation - The humanoid robot company "Accelerated Evolution" has completed its Series A financing, which will support product upgrades and mass production, indicating strong growth potential in the humanoid robot market [10] - Tasting's registered capital has increased from approximately 1.03 million RMB to about 118 million RMB, a growth of approximately 11,323%, providing financial support for its expansion in the competitive restaurant market [7] Ride-hailing and Mobility - Didi's Q1 report shows a 13.4% year-on-year increase in core platform order volume, reaching 4.247 billion orders, with daily average orders for Chinese mobility at 36.2 million [8] - Didi will distribute over 600 million RMB in summer heat subsidies to drivers across nearly 300 cities, enhancing service quality and addressing consumer comfort during peak travel seasons [9]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report highlights significant developments in domestic policies aimed at stabilizing the real estate market and promoting economic growth through various initiatives, including the introduction of child-rearing subsidies and the resumption of special bonds for land reserves [1][9][14] Summary by Sections Domestic Developments - The National People's Congress emphasized urban renewal and real estate stability, focusing on the renovation of old residential areas and the construction of complete communities [7] - The resumption of special bonds for land reserves aims to alleviate liquidity pressures on local governments and real estate companies, facilitating a recovery in the real estate market [9][10] - The introduction of child-rearing subsidies in Hohhot, providing up to 100,000 yuan for children born after March 1, 2025, is expected to ease economic burdens on families and enhance birth rates [14][15] International Developments - The report notes escalating trade tensions between the US and Europe, with the EU responding to US tariffs on steel and aluminum by imposing tariffs on 26 billion euros worth of US goods [2][16] - Japan's economic growth in Q4 2024 was lower than expected, raising concerns about the sustainability of its recovery amid potential tariff challenges [18][19] High-Frequency Data - Upstream: Brent crude oil prices decreased by 0.13% week-on-week, while copper prices increased by 1.34% [24][32] - Midstream: The price index for thermal coal rose by 0.58%, while rebar prices fell by 1.35% [32] - Downstream: Real estate sales increased by 14.93% week-on-week, and the average daily retail sales of passenger cars grew by 14% year-on-year [37]