跨越快递查询的服务质量也让我印象深刻。跨越速运的客服团队非常专业和负责，当我们在查询过程中遇到问题时， 他们能够及时给予帮助和解决方案。有一次，我们在查询一个快递单号时，系统提示查询不到信息。我们联系了客 服，客服人员迅速帮我们核实了单号，并排查了系统故障，最终成功查询到了快递信息。 另外，跨越速运的科技实力在跨越快递查询上也得到了充分体现。他们运用了先进的区块链技术，实现了快递信息的 不可篡改和可追溯性。每一个快递包裹的运输信息都被记录在区块链上，我们可以随时查询和验证。这不仅提高了快 递信息的可信度，也增强了我们对物流过程的监管能力。 跨越快递查询为我们制造业企业的物流管理提供了有力的支持。它的稳定性、服务质量和科技实力，让我们的物流更 加畅通。我相信，在未来的合作中，跨越速运将继续为我们提供优质的服务，助力我们的企业发展。 我是一家制造业企业的物流主管，在日常工作中，物流信息的准确掌握对于我们的生产和销售至关重要。直到我们开 始使用跨越快递查询，情况有了明显的改善。 跨越快递查询的稳定性是我非常看重的一点。无论何时，我们都能顺利登录跨越速运的查询系统，查询到快递的最新 信息。在"货运高峰"时期，物流信息 ...

Core Insights - The postal industry has seen a significant increase in delivery volume, reaching 158.26 billion items from January to September, a year-on-year growth of 15.0%, indicating a robust recovery in the consumer market [1] - The total electricity consumption in the first three quarters reached 77,675 billion kilowatt-hours, with a year-on-year increase of 4.6%, reflecting trends in industrial structure upgrades [2] - The number of applications for the vehicle trade-in subsidy has surpassed 10 million, showcasing the effectiveness of targeted policies in stimulating consumer demand [2] Group 1: Postal Industry - The express delivery business volume reached 145.08 billion items in the first nine months, with a year-on-year growth of 17.2%, and revenue exceeded 1 trillion yuan, totaling 1,085.74 billion yuan, a growth of 8.9% [1] - The growth in delivery volume is attributed to the integration of various sectors, including agriculture and e-commerce, enhancing the role of the express industry as a driver of consumer activity [1][3] Group 2: Electricity Consumption - The stable growth in electricity consumption reflects the rapid development of new infrastructure, such as electric vehicles and 5G, with significant increases in electricity usage in information transmission and retail sectors, at 18.3% and 11.7% respectively [2] - The electricity consumption in the internet and related services sector grew by 33.8%, while the charging services for electric vehicles saw a remarkable increase of 49.6%, indicating a shift towards digitalization and smart production [2] Group 3: Automotive Industry - The vehicle trade-in subsidy policy has effectively reduced the cost for residents to replace old vehicles, driving demand towards new energy and smart connected vehicles, which has led to an increase in automobile sales [2] - The rise in subsidy applications signifies a positive cycle of consumer upgrading, industrial transformation, and market expansion [2][3]

格隆汇10月24日丨中通快递-W(02057.HK)宣布，董事会将于2025年11月19日（星期三）（北京时间） 举行董事会会议，以（其中包括）批准本公司截至2025年9月30日止第三季度的未经审计财务业绩及其 发布。本公司将于2025年11月20日（星期四）（北京时间）于联交所开市前发布本公司截至2025年9月 30日止第三季度的未经审计财务业绩。 ...

Investment Rating - The report maintains an "Overweight" rating for the express delivery industry, expecting the industry index to outperform the market index by over 10% in the next six months [7]. Core Insights - The express delivery industry has shown signs of recovery with an increase in average delivery prices, attributed to regulatory measures against excessive competition [2][3]. - The total express delivery volume from January to September 2025 reached 1,450.8 billion pieces, a year-on-year increase of 17.2%, while the industry revenue for the same period was 10,857.4 billion yuan, up 8.9% year-on-year [2]. - The average revenue per delivery in September was 7.55 yuan, reflecting a year-on-year decrease of 4.91% but a month-on-month increase of 0.18 yuan, indicating a potential price recovery trend [2]. Summary by Sections Industry Performance - In September 2025, the express delivery volume was 168.8 billion pieces, a year-on-year increase of 12.7%, and the revenue was 1,273.7 billion yuan, up 7.2% year-on-year [2]. - The average delivery price has seen a slight recovery due to the "anti-involution" measures, with various regions announcing price increases ranging from 0.1 to 0.4 yuan per delivery [3]. Market Dynamics - Major express delivery companies such as SF Express, Yunda, Shentong, and YTO have reported varying growth rates in delivery volumes, with SF Express showing a significant year-on-year increase of 31.81% in September [4]. - The market concentration index (CR8) for the express delivery sector remained stable at 86.9, with slight fluctuations in market shares among leading companies [4]. Investment Strategy - The report suggests that the ongoing price increases and regulatory scrutiny will enhance profit margins for express delivery companies, with a focus on companies like YTO Express, Shentong Express, SF Holdings, and Yunda [5]. - The anticipated price recovery and reduced competition for market share are expected to release profit elasticity for express delivery companies [5].

热点板块： 10 月科技方向依然值得关注，反内卷出现成果的板块有补涨机会。科技板块在经历了8-9月的持续上涨后，板块内部出现有序轮动和高低 切换。预计10月科技板块内部将继续维持有序轮动的格局，滞涨的机器人、军工、智能汽车等板块有望迎来补涨。而领涨板块如算力硬件、国产半导体、 新能源等一旦出现明显调整，也将形成较好的逢低布局机会。反内卷出现阶段性成果的板块，如光伏、水泥建材、煤炭、快递等板块如得到三季报验证， 也将迎来补涨的机会。关注：1）机器人国产化和走进老百姓生活依然是2025 年比较确定的趋势，机器人产品将从人形机器人向四足机器人、功能型机器 人扩展。以此带来的传感器、控制器、灵巧手等板 围绕3900点附近震荡后探底回升，周期方向表现活跃。 周四A股围绕3900点附近做震荡整理，午盘后市场情绪回暖指数开始探底回升，盘中周期方向 表现活跃，如煤炭、有色等板块成为指数回升的重要推动力量。近期关税风波有所缓和，市场担忧情绪缓解，叠加十五五规划即将定调，市场关注点重新 回到国内产业趋势。 后市展望： 关税事件影响逐步消退，市场关注焦点重回国内产业趋势。10月以来A股延续了9月的横盘震荡格局，上证指数基本围绕15 ...

外卖小哥和快递小哥，都是穿梭在城市的骑手，两群人相似又各异的生存状态，成为大家对比和讨论的焦点。 反观快递小哥，其权益保障仍处于泥潭之中，整体改善进度明显滞后于外卖骑手，两者的境遇差距愈发明显。 一、投诉连环套，困住消费者与快递小哥 在快递行业，似乎藏着一条心照不宣的规定："所有操作皆为投诉"，即使快递小哥和消费者沟通良好，没有任何冲突，但只要消费者咨询快递公司客服自己 快递的情况，或者因故取消订单，即使此次订单的取消并非快递小哥的过错，这一切行为都被视为"投诉快递小哥"。 这一系列"动辄即算投诉"的隐形规则，也让许多消费者感到困惑，不少人纷纷在社交平台上发帖，寻求解决之法。 2025年10月22日，网友灵毓（成为富豪版）在小红书这样写到，"只要一咨询就是投诉，甚至不敢找客服说撤销投诉，因为会变成下一个投诉，而且据说投 诉是要扣钱的，另外没有撤销投诉的选项，不知道快递小哥有没有申诉的权利。" 据《光明日报》报道，近日，京东外卖、饿了么、美团先后宣布取消超时罚款，改为服务分管理机制，若骑手超时，将不再扣除现金，而是扣除相应的服务 分，美团还规定，若准时，将增加服务分。目前，该规则已在多个城市试点。 除此以外，美 ...

| 申万期货品种策略日报——股指 | 2025/10/24 | 星期五 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 申银万国期货研究所 贾婷婷（从业资格号：F3056905；交易咨询号：Z0016232 ）jiatt@sywgqh.com.cn;15921620356 | 申银万国期货研究所 柴玉荣 （从业资格号：F03111639；交易咨询号：Z0018586）chaiyr@sywgqh.com.cn;18802979529 | | | | | | | | | | | 一、股指期货市场 | IF当月 | IF下月 | IF下季 | IF隔季 | | | | | | | | 前两日收盘价 | 4574.00 | 4563.40 | 4537.00 | 4500.20 | 前日收盘价 | 4593.60 | 4580.80 | 4553.80 | 4516.80 | | | 涨跌 | 15.60 | 14.60 | 14.20 | 15.00 | 沪深300 | 涨跌幅 | 0.3 ...

宏观经济 四中全会公报："十五五"时期经济社会发展的主要目标，到二〇三五年实现我国经济实力、科技实力、 国防实力、综合国力和国际影响力大幅跃升，人均国内生产总值达到中等发达国家水平，人民生活更加 幸福美好，基本实现社会主义现代化。 中共中央将于10月24日上午10时举行新闻发布会，介绍和解读党的二十届四中全会精神。 商务部新闻发言人就中美经贸磋商有关问题答记者问表示，经中美双方商定，中共中央政治局委员、国 务院副总理何立峰将于10月24日至27日率团赴马来西亚与美方举行经贸磋商。 香港特区行政长官李家超：香港要持续深化国际交往合作，积极拓展国际"朋友圈"，成为内地企业"走 出去"和把海外企业"引进来"的双向跳板。将积极争取更多国际机构落户香港，包括亚洲基础设施投资 银行。 央广网：德国联邦统计局数据显示，美国失去德国最大贸易伙伴地位，中国成为德国最大贸易伙伴。前 8个月，德国对美出口额为1010亿欧元，同比下降6.5%。美国关税政策是导致德国对美出口下降的重要 原因。 中新网：当地时间10月22日，美国国债总额首次超过38万亿美元。美媒指出，这一创纪录的数字凸显了 美国资产负债表上债务的加速累积。同时，联邦政 ...

Company Developments - Anshi China refuted false statements from the current management of its Dutch headquarters, asserting that all products produced and delivered in China meet contractual agreements [6] - Yushutech has completed its name change, with founder Wang Xingxing transitioning from executive director to chairman, and the company’s third humanoid robot, R1, is ready for mass production, expected to ship by the end of this year or early next year [6] - JD Auto, in collaboration with CATL and GAC Group, announced the name of its new model "Aion UT super," featuring a range of 500 kilometers and a wheelbase of 2750mm, marking it as the first vehicle equipped with "GAC Huawei Cloud Car Machine" [6] - Juhua Co. reported third-quarter revenue of 7.062 billion yuan, a year-on-year increase of 21.22%, and a net profit of 1.197 billion yuan, up 186.55%. For the first three quarters, revenue reached 20.394 billion yuan, a 13.89% increase, with net profit rising 160.22% to 3.248 billion yuan, driven by rising refrigerant prices [6] - Huagong Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange, with specific details yet to be finalized [6] - Shengyi Electronics expects a net profit of 1.074 billion to 1.154 billion yuan for the first three quarters, representing a year-on-year increase of 476% to 519% [6] - Yinglian Co. reported first three quarters revenue of 1.648 billion yuan, a 10.68% increase, with net profit reaching 35.378 million yuan, up 1572.67% [6] Market Trends - The A-share market showed weakness in early trading but rallied towards the end, with all three major indices closing higher. The Shanghai Composite Index rose by 0.22% to 3922.41 points, with a total trading volume of 1.66 trillion yuan [4] - The banking wealth management market reached a total scale of 32.13 trillion yuan by the end of the third quarter, a year-on-year increase of 9.42%, with fixed-income products accounting for 31.21 trillion yuan [4] - Several foreign investment institutions, including Goldman Sachs, JPMorgan, and UBS, expressed optimism about the Chinese capital market, predicting a sustained upward trend in the stock market due to improving corporate profitability and market revaluation [4]

更好服务区域协调发展。前三季度，快递业积极服务"东货西进、西产东流"，中西部地区快递业务量占 比持续提升。与去年同期相比，中部地区快递业务量比重上升1.0个百分点；西部地区快递业务量比重 上升0.5个百分点。新疆、宁夏、贵州、青海等省（区）快递业务量增速约30%，为促进中西部地区内 需扩大，推动区域协调发展发挥积极作用。 更好助力内需活力释放。快递业深化与文旅体育协同发展，提升农村消费服务广度与深度，市场规模稳 步扩大。自3月以来，单月业务量均超160亿件，支撑前三季度实物商品网上零售额超9万亿元。1至9 月，快递业务收入累计完成10857.4亿元，同比增长8.9%。 更好促进产品跨区域流通。前三季度，行业增强冷链保障能力，提升多元化一体化服务能力，服务生鲜 水果、河鲜海鲜等农特产品远销全国，助力智能家居、以旧换新等产品线上热销，为产品流通、经济循 环提供重要渠道，异地业务量占比较去年同期提升1个百分点左右。 本报北京10月23日电 （记者韩鑫）记者23日从国家邮政局获悉：今年1至9月，快递业务量累计完成 1450.8亿件，同比增长17.2%。其中，9月单月，快递业务量完成168.8亿件，同比增长12.7%。 ...