观察我国快递发展之势，中西部地区是一扇窗口——新疆莎车县，快递网点堆满来自天南海北的包裹； 西藏山南市，城市主城区实现"当日达"；内蒙古锡林郭勒盟，牧民动动手指就能在牧区收到马具……从 不包邮到包邮，从多日达到当日达，电商西进、快递进村，标注着中国快递的广度、深度和温度。 以高质量发展为首要任务，以物畅其流为努力方向，"十四五"时期，中国快递交出亮眼答卷。 迈向"十五五"，随着智能化与全球化协同演进，时效革命、成本优化、价值跃升的快递物流，将在助力 有效降低全社会物流成本、促进国内国际双循环中展现更大作为、贡献更大力量。 （作者为北京邮电大学邮政发展研究中心主任，本报记者韩鑫采访整理） （文章来源：人民日报） 这背后，也是快递业与实体经济的加速融合。冷链运输快速发展，更好助力优质农特产品出村进城；快 递进厂提速升级，累计打造1600多个服务产业重点项目……通过嵌入供应链、延伸产业链、提升价值 链，物流要素与经济要素协同融合。 连接千城百业、联通线上线下的邮政快递业，融入生产环节，嵌入消费场景，折射出一个流动的中国、 开放的市场，成为促消费、扩内需、稳增长的重要支撑。 走过"十四五"，我国已建成全球最大的邮政快 ...

Core Points - The meeting emphasized the importance of monitoring and command mechanisms in the express delivery industry to maintain stability among delivery personnel [1] - The meeting reiterated the implementation of three key systems: real-name collection, inspection of items, and security checks, to enhance delivery safety [1] - There is a renewed focus on the "express delivery into villages" initiative, with a strong stance against illegal charges for mail and package collection in rural areas [1] Group 1 - The meeting highlighted the need for strict enforcement of delivery service area announcements and adherence to delivery obligations [1] - Effective preemptive measures are to be taken for packages sent to areas not covered by service regions [1] - There is an emphasis on improving the quality of rural express delivery services and monitoring the service area announcements made by companies [1] Group 2 - The meeting addressed the need to combat "involution" competition within the industry to protect the legal rights of delivery personnel [1]

Company Overview - The company reported Q3 2025 operational data showing a 79% year-on-year increase in Southeast Asia business volume to an average of 21.7 million items per day, a 10% increase in China business volume to 60.6 million items per day, and a 48% increase in new market business volume to 1.1 million items per day, indicating better-than-expected performance in international market share expansion [1]. Southeast Asia Market - The company is expected to maintain its leading market share in Southeast Asia, driven by the growth of social e-commerce, with a potential turning point in the express delivery landscape by 2025. The EBIT per parcel is anticipated to remain stable [1]. - The Southeast Asian e-commerce retail market is still in a high growth phase, with trends towards free shipping likely to further stimulate online shopping habits. The company, as the leading express delivery service, is expected to leverage its scale advantages to widen the gap with other third-party logistics providers [1]. - The market shares of the fourth and fifth-ranked third-party logistics providers have decreased by 1.2 percentage points to 5.5% and by 0.9 percentage points to 4.4%, while the company’s market share has increased by 5.4 percentage points to 32.8% [1]. New Market Development - The new market is still in its early development stage, with the company’s parcel volume expected to grow significantly alongside the penetration of e-commerce. The GMV of TikTok Shop in Brazil has increased 45 times from $1 million in May to $46.135 million in August [2]. - As a third-party logistics provider for both Chinese outbound e-commerce platforms and local Latin American platforms, the company is well-positioned to benefit from the rising e-commerce penetration rates [2]. China Market Outlook - In the short to medium term, the company faces challenges from price wars in China, but a potential easing of competition in the second half of the year may improve conditions. The company is monitoring cost optimization progress [2]. Profit Forecast and Valuation - Due to lower-than-expected profits in China, the company has revised its profit forecasts for 2025 and 2026 down by 8% and 12% to $319 million and $470 million, respectively, corresponding to P/E ratios of 37 and 25 [2]. - The target price remains unchanged, reflecting a 9% upside potential based on P/E ratios of 40 and 27 for 2025 and 2026, respectively [2].

会议强调，要进一步深化和统一思想认识，增强做好安全稳定工作的责任感使命感紧迫感，全力抓好行 业安全稳定各项工作，防范化解各类重大安全风险。要发挥行业运行监测和指挥调度机制作用，坚决维 护好快递员群体稳定。要强化实名收寄、收寄验视、过机安检"三项制度"落实，持续加大寄递安全管控 力度，全力保障社会公共安全。要压实各方安全生产责任，深入排查整治重大安全隐患，坚决防范重大 生产安全事故。要大力加强信息安全管理，持续推进邮件快件隐私运单应用。要深化企业安全体系建 设，做好检查评估中发现问题的整改，强化部署落实，推动安全管理体系建设常态化。 智通财经APP获悉，10月21日，国家邮政局在沈阳召开邮政快递业安全治理规范化座谈会暨快递进村工 作推进会。会议强调，要发挥行业运行监测和指挥调度机制作用，坚决维护好快递员群体稳定。要强化 实名收寄、收寄验视、过机安检"三项制度"落实，持续加大寄递安全管控力度，全力保障社会公共安 全。会议对快递进村工作进行了再部署，强调要保持对农村地区领取邮件快件违规收费行为的高压打击 态势，严格落实快递服务地域范围公示要求，严格按照约定履行投递义务。同时，强调要整治"内卷 式"竞争，保障快递员合 ...

会议对快递进村工作进行了再部署，强调要保持对农村地区领取邮件快件违规收费行为的高压打击态 势，严格落实快递服务地域范围公示要求，严格按照约定履行投递义务，对寄往服务地域没有覆盖地区 的快件，要采取有效的前端拦截措施。要加强农村快递服务质量监管，重点关注企业公示的服务地域范 围。要强化农村快递服务保障，加强规划引领，完善村级寄递物流综合服务站布局，鼓励末端合作。同 时，强调要整治"内卷式"竞争，保障快递员合法权益。 人民财讯10月22日电，10月21日，国家邮政局在沈阳召开邮政快递业安全治理规范化座谈会暨快递进村 工作推进会，会议强调，要进一步深化和统一思想认识，增强做好安全稳定工作的责任感使命感紧迫 感，全力抓好行业安全稳定各项工作，防范化解各类重大安全风险。要发挥行业运行监测和指挥调度机 制作用，坚决维护好快递员群体稳定。要强化实名收寄、收寄验视、过机安检"三项制度"落实，持续加 大寄递安全管控力度，全力保障社会公共安全。要压实各方安全生产责任，深入排查整治重大安全隐 患，坚决防范重大生产安全事故。要大力加强信息安全管理，持续推进邮件快件隐私运单应用。要深化 企业安全体系建设，做好检查评估中发现问题的整改， ...

Core Insights - The peak season of Double 11 is approaching, and the express delivery industry is experiencing a slowdown in business growth compared to last year due to rising prices in grain-producing areas, but it is still expected to reach new highs [1] - AI technology has transitioned from concept to full implementation, enhancing the efficiency and accuracy of the business chain for express delivery companies during the peak season [2] Group 1: AI and Technology Implementation - YTO Express launched its "Smart Routing" system in August, integrating big data, AI, and GIS technology, which reduced routing analysis time from 5 days to 1 day, significantly improving transportation efficiency [4] - YTO's AI customer service can automatically handle customer inquiries and claims, reducing the workload on human customer service by 16% year-on-year in the first half of 2025 [4] - This year marks the first large-scale deployment of unmanned vehicles during Double 11, with unmanned vehicles operating in various scenarios, achieving rapid delivery times [4][6] Group 2: Infrastructure and Capacity Enhancement - Jitu Express has accelerated capacity construction, upgrading 57 transfer centers and over 1,000 distribution points, investing in more than 700 sets of automated equipment to enhance operational capabilities [9] - Zhongtong Express has launched new projects in northern and southwestern regions, while Shentong has completed nine capacity projects before the peak season [11] - Yunda has also opened several logistics hubs, enhancing package handling efficiency and customer satisfaction [11][13] Group 3: Service Quality and Customer Experience - The express delivery industry is shifting from price wars to value wars, focusing on service quality during Double 11, which tests delivery capabilities and after-sales service [15] - Companies are prioritizing consumer logistics experience and enhancing B2B market focus through systems like "Customer Manager" to retain clients with customized service models [15]

Core Viewpoint - The express delivery industry in China is experiencing a growth in business volume and revenue, driven by a reduction in internal competition and an increase in pricing [1][2][4] Industry Summary - According to the National Postal Bureau's report, the express delivery business volume is expected to grow by approximately 12% year-on-year in September, while revenue is projected to increase by around 7% year-on-year [1][2] - The average revenue per package in September is estimated at 7.58 yuan, reflecting a month-on-month increase of 3% [1][2] - The trend of reducing internal competition is leading to a continuous rise in express delivery prices across the country [2][4] Company Performance - YTO Express achieved a business volume of 2.627 billion packages in September, a year-on-year increase of 13.64%, with a revenue per package of 2.21 yuan, up 1.4% [1] - Shentong Express reported a business volume of 2.187 billion packages, a year-on-year increase of 9.46%, with a revenue per package of 2.12 yuan, up 4.95% [1] - Yunda Express completed a business volume of 2.110 billion packages, a year-on-year increase of 3.63%, with a revenue per package of 2.02 yuan, up 0.50% [1] Profitability Outlook - The third quarter is expected to show initial profit recovery for express delivery companies due to price increases, with a focus on profit elasticity in the fourth quarter [4][5] - The industry is entering a new phase of reducing internal competition, with potential implications for pricing and profitability [5] Investment Recommendations - Companies with significant profit elasticity such as Shentong Express (002468.SZ) and YTO Express (600233.SH) are recommended for investment, along with J&T Express (01519) benefiting from Southeast Asian e-commerce growth [6]

Core Points - A Beijing citizen reported receiving a 1-kilogram silver bar instead of a second-hand camera purchased online, highlighting issues in the logistics and delivery process [1] - The seller shipped the package on October 19, and the recipient discovered the error upon opening the package on October 20 [1] - The involved courier company acknowledged the mistake was due to a mislabeling by the pickup courier and stated that appropriate penalties would be imposed on the responsible employee [1] Company and Industry Summary - The incident underscores potential vulnerabilities in the logistics and delivery sector, particularly regarding package handling and labeling accuracy [1] - The courier company has taken steps to address the issue by contacting affected customers and committing to accountability measures for the involved courier [1] - This situation may prompt a review of operational protocols within the logistics industry to prevent similar occurrences in the future [1]

中通快递-W(02057)公布，2025年10月21日耗资约119.78万美元回购约6.31万股股份。 ...

Group 1 - The company, ZTO Express (02057.HK), announced a share buyback on October 21, 2025, spending $1.19785 million to repurchase 63,100 shares at a price range of $18.98 to $18.99 per share [1]