美国从8月29日起暂停对价值800美元及以下的进口包裹给予免税待遇，届时小额包裹需缴纳适用的所有 税费。受此影响，欧洲多国邮政运营商近日纷纷宣布暂停寄往美国的包裹服务。分析人士指出，美国政 府单方面取消低价值货物免税待遇的做法，正引发跨境物流和中小企业连锁反应，给全球邮政合作体系 带来不确定性。 根据此前公布的欧美贸易协议细节，从欧盟寄往美国的包裹与大多数欧盟输美产品一样，将被征收15% 的关税。这意味着，美国对外长期实行的"低值免税"政策即将失效，全球跨境电商和邮政体系面临调 整。 法国邮政集团22日宣布，受美国关税政策影响，该集团自本月25日起将暂停向美国寄送包裹，价值低于 100欧元的私人礼品包裹除外。 德国邮政全资持有的敦豪公司22日宣布，暂停通过邮政渠道向美国寄送商业货物和部分私人包裹，仅价 值不超过100美元的礼品快递可继续寄送，但受到严格管制。敦豪表示，由于关税征收方式及相关操作 细节尚未明确，暂无法保证邮政包裹顺利通关，因此采取暂停措施。 维也纳经济和商业大学运输与物流管理研究所所长塞瓦斯蒂安·库默尔表示："实施暂停是因为存在太多 不确定性，企业担心后续成本非常高昂。"这些成本包括可能的仓储费 ...

美国从8月29日起暂停对价值800美元及以下的进口包裹给予免税待遇，届时小额包裹需缴纳适用的所有 税费。受此影响，欧洲多国邮政运营商近日纷纷宣布暂停寄往美国的包裹服务。分析人士指出，美国政 府单方面取消低价值货物免税待遇的做法，正引发跨境物流和中小企业连锁反应，给全球邮政合作体系 带来不确定性。 英国皇家邮政公司表示，将自26日起暂停向美国的寄送服务，在经过一至两天的过渡期后启用新系统， 届时将在邮资和关税基础上加收手续费，以支付美国清关服务相关的额外费用。 意大利邮政公司23日宣布暂停处理寄往美国的商品类包裹，普通信件和"国际特快专递"服务仍可使用， 但成本显著上升。 在北欧地区，芬兰邮政19日表示，因美国海关尚未明确缴税方式，且各国邮政企业尚未建立相应系统， 暂停对美寄递是唯一可行方案。瑞典政府和丹麦政府合资的北欧邮政公司也宣布，自23日起暂停向美国 和波多黎各寄递含货物的邮件。 在中东欧地区，捷克邮政宣布自22日起停止接收部分对美包裹。波黑邮政部门22日宣布，自当天起不再 受理任何寄往美国的邮政物品。拉脱维亚邮政宣布，自23日起无限期停止接收寄往美国的小包裹和包裹 货件。斯洛文尼亚邮政宣布，自22日起暂 ...

新华社布鲁塞尔8月24日电 综述丨欧洲多国邮政暂停对美包裹寄递 美关税冲击跨境物流 新华社记者 美国从8月29日起暂停对价值800美元及以下的进口包裹给予免税待遇，届时小额包裹需缴纳适用的 所有税费。受此影响，欧洲多国邮政运营商近日纷纷宣布暂停寄往美国的包裹服务。分析人士指出，美 国政府单方面取消低价值货物免税待遇的做法，正引发跨境物流和中小企业连锁反应，给全球邮政合作 体系带来不确定性。 根据此前公布的欧美贸易协议细节，从欧盟寄往美国的包裹与大多数欧盟输美产品一样，将被征收 15%的关税。这意味着，美国对外长期实行的"低值免税"政策即将失效，全球跨境电商和邮政体系面临 调整。 法国邮政集团22日宣布，受美国关税政策影响，该集团自本月25日起将暂停向美国寄送包裹，价值 低于100欧元的私人礼品包裹除外。 德国邮政全资持有的敦豪公司22日宣布，暂停通过邮政渠道向美国寄送商业货物和部分私人包裹， 仅价值不超过100美元的礼品快递可继续寄送，但受到严格管制。敦豪表示，由于关税征收方式及相关 操作细节尚未明确，暂无法保证邮政包裹顺利通关，因此采取暂停措施。 英国皇家邮政公司表示，将自26日起暂停向美国的寄送服务，在经 ...

Core Insights - The "BAY AREA" China-Europe Railway Express, launched five years ago, has successfully transported goods worth $3 billion to 47 countries, completing 878 trips and moving 85,000 TEUs, averaging the capacity of a small shopping center per trip [1][3] - The service has diversified its operations, functioning as both a freight service and a cross-border express delivery option, with routes extending to various countries including Germany and Italy, and even reaching Laos and Thailand during holidays [1][3] - The railway has become a reliable alternative to maritime shipping, especially during the pandemic, maintaining operations when others halted, and adapting to global shipping challenges [1] Industry Developments - To cater to the demands of cross-border e-commerce, the railway company has introduced an "E-commerce Express Line" from Shenzhen to Budapest, reducing shipping time by half compared to sea freight and increasing speed by 30% over regular services [3] - A significant infrastructure project is underway with the construction of Asia's largest "multimodal transport center," which will span 850,000 square meters and include multiple warehouses and access points, enhancing logistics efficiency [3] - The railway's achievements over five years include transporting goods valued at $3 billion, operating 27 routes, serving 47 countries, and supporting over 7,000 enterprises, showcasing its impact on global logistics [3]

作为全国唯一一个陆路边境口岸跨境国际快件监管场所，磨憨口岸国际快件监管中心凭借其独特区 位优势，正加速成为连接中国与南亚、东南亚的快件物流枢纽。 "磨憨快件中心目前有3条自动分拣线，日最高处理能力达1万件，快件通过陆路运输灵活方便，物 流成本相较于航空运输降低50%以上，时效比海运快6天以上。今年我们还新增了出口缅甸的快件专 线，不断满足跨境消费市场需求。"西双版纳红星东红贸易有限公司快件场所负责人介绍。 为更好服务跨境快件业务，昆明海关所属勐腊海关聚焦快件业务"小、快、灵"特点，创新实施多项 便利化举措。先后部署X光机、CT机，运用智能审图等技术，对中高风险快件精准监管，对低风险快件 实行"自动验放"，推行"预约通关+汇总征税"模式，企业可提前申报并电子缴税，降低综合成本，提高 通关效率。 昆明海关8月14日消息，今年前7个月，磨憨口岸进出口快件总量达38.5万件、货值达9051.7万元， 同比分别增长10.3倍和14.7倍，创历史新高。商品种类涵盖食品、服装、家电等200余种，快件业务网络 覆盖老挝、泰国、尼泊尔等12个国家和地区。 国家邮政局网声明：此消息系转载，国家邮政局网登载此文出于传递更多信息之目 ...

Core Viewpoint - Cathay Pacific reported a net profit of HKD 36.51 billion for the first half of the year, a year-on-year increase of 1.1%, with revenue reaching HKD 543.09 billion, up 9.5% [2][3] Financial Performance - The growth in performance is attributed to increased passenger volume, stable cargo performance, and a 13% decrease in fuel costs due to lower fuel prices [3] - Passenger capacity increased by 26.3% year-on-year, with passenger turnover rising by 30% and average daily passenger count up by 27.8%, resulting in a seat load factor of 84.8%, an increase of 2.4 percentage points [3] - Despite the strong demand for passenger transport, overall yield declined by 12.3% due to increased market capacity [3] Fleet Expansion - Cathay Pacific announced the exercise of a purchase option to acquire 14 Boeing 777-9 aircraft, with the first delivery expected in 2027 [4] Cargo Operations - Cargo revenue increased by 2.2% year-on-year, with cargo capacity up by 8.1% and cargo volume rising by 11.4%, although yield decreased by 3.4% [5] - The cargo sector faces challenges due to geopolitical factors and changes in customs policies, particularly affecting cross-border logistics [5] - The company is focusing on exploring cargo demand in other regions, such as Southeast Asia and India, while also investing in diverse cargo services [5] Strategic Focus - Cathay Pacific is expanding its presence in the Greater Bay Area, enhancing connectivity and services to attract travelers from this region [6] - The company plans to continue expanding domestic routes and has established IT offices in Guangzhou and Shenzhen, with a target of increasing mainland staff to 4,000 by the end of the year [6]

Investment Rating - The report indicates a downward trend in the cross-border logistics sector, with a decline of 1.68% in the cross-border logistics index [9][12]. Core Insights - The global container freight rates are on a downward trajectory, with the CCFI reporting 1232.29 points, a decrease of 2.30% month-on-month [7]. - The air cargo index BAI reported 2027 points, reflecting a decrease of 1.07% month-on-month, indicating a tightening in air freight capacity due to increased demand ahead of tariff deadlines [7]. - The report highlights significant developments in cross-border e-commerce, including new policies affecting import taxes and logistics costs in various regions, which may reshape market dynamics [15][16]. Summary by Sections 1. Global Cross-Border Logistics Important News - New international air cargo routes have been established, with 20 new routes opened in July, totaling 137 routes for the year, enhancing the air freight network [18]. - The U.S. has announced the cancellation of the low-value import tax exemption for goods valued under $800, effective August 29, which will impact air cargo volumes [20] 2. Cross-Border Logistics Important Data Changes - The shipping price index shows a decline, with the SCFI at 1550.74 points, down 2.63% month-on-month, and the NCFI at 1087.66 points, down 2.06% [7]. - The air cargo index BAI30 and BAI80 also reported declines of 1.65% and 0.25% respectively, indicating a broader trend of decreasing air freight rates [7]. 3. Capital Market Perspective on Cross-Border Logistics - The cross-border logistics sector has seen a cumulative decline of 7.26% since the beginning of 2025, reflecting ongoing challenges in the market [12]. - The report notes a divergence in stock performance within the cross-border logistics sector, suggesting varying impacts on individual companies [9].

Group 1 - The China Securities Regulatory Commission (CSRC) has requested additional documentation from Huan Shi Logistics regarding its equity structure adjustments and capital reduction processes, including compliance with relevant laws and regulations [1][2] - Huan Shi Logistics is preparing for an IPO on the Hong Kong Stock Exchange, having submitted its application on May 27 [1] - The company has established itself as a leading cross-border logistics service provider in China, leveraging its extensive overseas operational expertise [3][4] Group 2 - According to Frost & Sullivan, Huan Shi Logistics is ranked first among private cross-border logistics service providers in China and eighth globally in container throughput for 2024 [3][4] - The company operates a global logistics network with over 6,000 cross-border routes, covering approximately 200 countries and regions, and delivered 772,423 TEUs for around 26,000 diverse enterprises in 2024 [4]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has requested additional documentation from nine companies, including HuanShi Logistics, regarding their overseas listing applications, focusing on compliance and financial transparency issues [1][2]. Group 1: Regulatory Requirements - CSRC requires HuanShi Logistics to clarify the reasons and payment details for three capital reductions during its equity structure adjustment, ensuring compliance with the Company Law and tax regulations [1]. - The company must provide legal opinions on the compliance of its offshore structure and return investment, including adherence to foreign exchange management and tax obligations [2]. - HuanShi Logistics is also asked to explain the compliance of its domestic operating entities regarding unpaid registered capital and the impact on operational and debt repayment capabilities [2]. Group 2: Business Overview - Established in 2003, HuanShi Logistics has become a leading cross-border integrated logistics service provider in China, leveraging its extensive overseas operational expertise [2]. - According to Frost & Sullivan, HuanShi Logistics ranks first among private cross-border logistics service providers in China and eighth globally in container throughput for 2024 [2]. - The company operates a global logistics network with over 6,000 cross-border routes, covering approximately 200 countries and regions, and ranks first in the China-Middle East and Red Sea routes for container volume [3]. Group 3: Operational Metrics - In 2024, HuanShi Logistics is expected to deliver 772,423 TEUs for around 26,000 diverse enterprises, covering a wide range of product categories [3].

Group 1 - Shentong plans to acquire 100% equity of Daniao Logistics for 362 million yuan, which is the operating entity of Cainiao's domestic express service [1] - Daniao Logistics operates 59 distribution centers and over 2,600 outlets, processing over 4 million high-value orders daily, with revenues of 12.351 billion yuan and 2.965 billion yuan for 2024 and the first four months of 2025 respectively [2] - The acquisition is expected to accelerate the establishment of a quality express network for Shentong, capturing opportunities in regional delivery and instant retail [2] Group 2 - Cainiao's decision to sell Daniao is part of a strategic focus on core businesses, allowing it to allocate more resources to international logistics, overseas express, global supply chain, and logistics technology [2] - The domestic express market is becoming increasingly competitive, and integrating Daniao with socialized network express companies may unlock growth potential [2] - Cainiao has established a significant presence in international logistics, with a cross-border parcel network covering over 200 countries and regions, and processing over 1.5 billion cross-border parcels annually [4] Group 3 - The international logistics market is expanding, with China's cross-border e-commerce imports and exports reaching approximately 1.32 trillion yuan in the first half of the year, a year-on-year increase of 5.7% [3] - The number of Chinese enterprises engaged in import and export has surpassed 628,000, marking a historical high, with private enterprises accounting for a significant portion of this growth [3] - Cainiao's logistics capabilities are enhanced by its technological advancements, such as RFID technology, which improves processing efficiency by 30% compared to traditional methods [9][10]