Key Points UPS stock has declined significantly over the past three years. Management is focusing on cost reductions and higher-margin markets to drive future growth. Near-term uncertainty remains, but the long-term outlook is positive. 10 stocks we like better than United Parcel Service › UPS (NYSE: UPS) stock declined by more than 21% last year amid a turbulent period marked by difficult trading conditions. The decline continued, with the stock now down almost 42% in the previous three years, as ...

圆通速递1月13日大宗交易平台共发生7笔成交，合计成交量695.35万股，成交金额1.11亿元。成交价格 均为15.90元，相对今日收盘价折价5.24%。从参与大宗交易营业部来看，机构专用席位共出现在7笔成 交的买方或卖方营业部中，合计成交金额为1.11亿元。 进一步统计，近3个月内该股累计发生41笔大宗交易，合计成交金额为10.33亿元。 证券时报·数据宝统计显示，圆通速递今日收盘价为16.78元，下跌0.83%，日换手率为0.44%，成交额为 2.54亿元，全天主力资金净流出1420.62万元，近5日该股累计上涨0.78%，近5日资金合计净流出3911.88 万元。 两融数据显示，该股最新融资余额为1.97亿元，近5日减少1805.12万元，降幅为8.40%。（数据宝） 1月13日圆通速递大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营业 | 卖方营业 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 部 | 部 | | 231.78 | 3685.30 | 15.90 | -5. ...

长沙晚报掌上长沙1月13日讯（全媒体记者 刘俊）从深耕科研一线、攻克技术难题的匠心铸管人，到身 残志坚、自强不息的体坛健儿，再到传承中医药文化、守护儿童健康的大爱"民"医……近日，省委宣传 部在长沙举办2025"新时代新雷锋"发布仪式，授予7个集体和个人"新时代新雷锋"称号。 此次被授予"新时代新雷锋"称号的集体和个人包括：湖南钢铁集团衡阳华菱钢管有限公司高级工程师左 国锋，湖南省残疾人田径队运动员文晓燕，湖南中医药大学第一附属医院儿童医学中心主任张涤，圆通 速递湖南省长沙市高桥分公司快递员马石光，湖南大学博士后、湖南橘友生物科技有限公司创始人莫博 程，郴州日报社原编委、主任记者黄华，湖南省博物馆数字创新团队。 此次被授予"新时代新雷锋"称号的先进典型，是新时代雷锋精神的传承者、弘扬者、践行者，生动展现 了湖南广大干部群众奋进新征程、建功新时代的蓬勃气象，集中彰显了各行各业先进代表至诚报国、甘 于奉献的高尚情怀，立足本职、建功岗位的担当精神，勇毅前行、砥砺奋进的昂扬风貌。 荣获"新时代新雷锋"称号的集体和个人: 稿源：掌上长沙 2026-01-13 22:20 左国锋是湖南钢铁集团衡阳华菱钢管有限公司高级工程 ...

Core Viewpoint - The express delivery industry is expected to maintain a single-digit growth rate, with a projected year-on-year increase of 5% in November 2025, reflecting a slowdown in growth compared to previous years [1][2]. Group 1: Industry Growth and Performance - The express delivery volume during the e-commerce Double Eleven shopping festival is expected to increase by 9% year-on-year, a significant decrease from the 21% growth rate observed in 2024 [1][2]. - The average daily volume during the shopping festival is 1.18 times that of regular days, with a peak daily volume increase of 6.6% year-on-year, indicating a diminishing marginal effect of the shopping festival on consumer spending [2][3]. Group 2: Revenue and Market Share - The implementation of anti-involution policies has effectively increased the revenue per package, with YTO, Yunda, and Shentong seeing revenue increases of 0.16, 0.25, and 0.44 yuan respectively from July to November [3]. - The market concentration in the express delivery sector has stabilized, with the CR8 index remaining at 86.9 in November, indicating a balanced market share among major players [3]. - The market shares for Zhongtong, YTO, Yunda, Shentong, and Jitu in Q3 2025 were 19.4%, 15.6%, 13.0%, 13.2%, and 11.3% respectively, showing slight fluctuations [3]. Group 3: Profitability Recovery - The anti-involution measures have contributed to a recovery in profitability, with Zhongtong, YTO, Yunda, and Shentong reporting net profit margin changes of -0.9%, +0.07%, -1.5%, and +0.5% year-on-year respectively [3]. - The trend of profitability recovery is expected to continue into Q4, contingent on the sustained implementation of anti-involution policies [3][4]. Group 4: Regulatory Environment and Competitive Strategies - The anti-involution policies initiated by the State Post Bureau have effectively countered "involution-style" competition, supported by local postal authorities through price and market share supervision [4]. - The positive effects of the anti-involution measures are anticipated to continue, promoting healthy competition and profitability within the industry [4]. Group 5: Investment Recommendations - The express delivery sector is viewed positively, with recommendations for leading companies such as Zhongtong Express and Jitu Express, which are expected to benefit from improved profitability and high growth in overseas volumes [5]. - SF Express is noted for its proactive market expansion strategy, which is expected to yield positive results as cost control measures are strengthened [5].

Investment Rating - The report maintains an "Overweight" rating for the transportation industry, indicating a positive outlook for the sector's performance relative to the overall market [12]. Core Insights - The shipping market is expected to see significant growth in Q4 2025, driven by strong VLCC freight rates and structural changes in trade dynamics, including new refinery capacities and geopolitical shifts [4]. - The aviation sector is projected to enter a golden era, with passenger transport expected to reach 770 million in 2025, marking a 5.5% increase from 2024 and a 16.7% increase from 2019 [4]. - The report highlights a shift in the shipping industry from supply-driven to demand-driven dynamics, particularly in shipbuilding, as older vessels are replaced [4]. - The logistics and freight forwarding sectors are facing challenges due to trade tensions, impacting profit margins and demand [4]. Summary by Sections Shipping - Q4 2025 VLCC freight rates are expected to average around $95,500 per day, with a projected demand increase of 1.7% from new refinery capacities and a 2.1% increase from compliance changes in Venezuelan oil [4]. - The dry bulk market is also showing strong performance, with Cape-sized vessel rates expected to rise by 20% to $27,600 per day [4]. - The report estimates that COSCO Shipping Energy's Q4 earnings will be approximately 1.9 billion RMB, while China Merchants Energy's will be around 2.9 billion RMB [4]. Shipbuilding - The shipbuilding sector is experiencing a tight supply-demand balance, with second-hand ship prices rising for 11 consecutive months, indicating a positive outlook for the industry [4]. Freight Forwarding - The freight forwarding sector is facing profit margin compression due to trade frictions, with the CCFI index expected to decline by 26% in Q4 2025 [4]. Aviation - The Chinese aviation market is expected to achieve a profit of 6.5 billion RMB in 2025, with major airlines like China Eastern Airlines anticipated to see significant performance improvements [4]. - The report emphasizes the importance of international routes as passenger volumes are expected to grow, driven by a recovery in outbound travel [4]. Express Delivery - The express delivery sector is projected to see a 5% year-on-year growth in Q4, driven by price increases and seasonal demand, despite challenges from trade policies [4]. Road and Rail - The report notes a slowdown in highway traffic growth, while rail passenger and freight volumes continue to increase, with recommendations for specific companies in the sector [4].

新年伊始，AI应用概念再掀热度，有行业人士直言，2026年将是AI走向落地应用的元年。事实上，人 工智能技术已在快递行业内广泛落地和应用，并构筑了企业经营发展的核心竞争力。 圆通亦持续赋能加盟网点提升管理效能，其推出的"网点经理智能助手"通过智能数据分析，助力加盟商 精准把控运营状况，科学优化管理策略，实现网点运营精准管控。 值得关注的是，圆通速递打造了覆盖全链路的智能化矩阵这一"最强大脑"，在揽派、中转、运输、客 服、管理等各个环节赋能，实现了服务效率与客户体验的同步提升，目前，深度集成的AI系统已成为 圆通快递高效运作的最大底气。 多场景AI应用的协同发力，使圆通在高并发业务场景下保持服务稳定性，实现了提质降本增效，亦为 消费市场顺畅运转提供了有力支撑。 在揽派前端，圆通"业务员AI助手"可实现批量外呼、分堆播报等功能，并主动推送相关指示，助力业务 员高效完成工作任务，同时，通过该系统智能路径规划，可减少配送延误与错派。此外，AI助手可助 力新员工快速掌握业务流程，降低培训成本。数据测算，该助手每日可帮助业务员节省30-60分钟工作 时间，直接提升终端服务效率。 中转环节，"数字孪生"系统已在圆通全国集运 ...

Core Viewpoint - The introduction of "Little Brother Mediators" in Beijing's Xicheng District effectively addresses labor disputes among new employment forms, enhancing communication and resolution efficiency within the delivery industry [1][2][6]. Group 1: Background and Challenges - New employment form workers are essential for urban operations but face frequent issues such as labor relationship recognition, wage disputes, and attendance penalties [2]. - Traditional mediation methods often fail due to mediators' lack of familiarity with the specific rules and processes of the gig economy, leading to low efficiency and poor outcomes [2][3]. Group 2: Innovative Mediation Model - Xicheng District has implemented a "self-help" mediation model, allowing experienced delivery workers to serve as mediators, which helps bridge the gap between workers and management [2][7]. - Seventeen mediators were selected based on their industry experience and underwent professional training covering labor laws, mediation techniques, and case analysis before receiving certification [2][5]. Group 3: Mediation Effectiveness - "Little Brother Mediators" can quickly identify key issues in disputes, significantly reducing mediation time by over 50% compared to traditional methods [3]. - The mediators not only resolve immediate issues but also work to prevent future problems by suggesting improvements to operational processes [4][6]. Group 4: Impact on Labor Relations - The presence of "Little Brother Mediators" has led to a notable increase in the sense of belonging and value among new employment form workers, fostering trust and collaboration within the community [6]. - Over 80% of disputes have been resolved at the street level since the mediators began their work, significantly lowering the costs associated with rights protection [6]. Group 5: Future Directions - The Xicheng District plans to expand the "Little Brother Mediator" initiative, encouraging high-dispute platforms to establish dedicated mediation organizations and further grow the mediator team [7].

Core Viewpoint - Yunda Holdings reported a total business volume of 23.453 billion parcels from January to November 2025, representing a year-on-year growth of 9.27% [1] Group 1: Business Performance - The company achieved a cumulative business volume of 23.453 billion parcels, reflecting a 9.27% increase compared to the previous year [1] Group 2: Strategic Initiatives - The company is enhancing its network infrastructure and strengthening automation capabilities to create a smarter and more flexible operational base, which will improve sorting and transportation efficiency [1] - Yunda is implementing high-quality services across its network to enhance safety, timeliness, and service experience, thereby increasing brand premium capability [1] - The company is empowering its service points by promoting customer segmentation and development, and strengthening the application of digital systems and management tools to improve customer service capabilities and expand differentiated service products [1]

Group 1 - The Central Economic Work Conference held in Beijing at the end of 2025 summarized the economic work of 2025 and deployed tasks for 2026, focusing on ensuring a good start for the "14th Five-Year Plan" [1] - The total retail sales of social consumer goods reached 45.6 trillion yuan in 2025, with a growth of 4.0% from January to November [4] - A total of 5 billion yuan is allocated, with 3 billion yuan for supporting the replacement of consumer goods, an increase of 1.5 billion yuan from the previous year [6] Group 2 - The cumulative production and sales of automobiles reached 31.23 million and 31.12 million units, respectively, with year-on-year growth of 11.9% and 11.4% [7] - The express delivery business volume reached 199 billion pieces in 2025, showing a year-on-year growth of 13.7% [8] - The total import and export value of goods reached 4.12076 trillion yuan from January to November 2025, with a year-on-year growth of 3.6% [18] Group 3 - The economic output of China's top 100 counties and cities reached 13.7 trillion yuan, contributing over 10% of the national GDP with less than 2% of the country's land area [21] - The grain planting area reached 1.791 billion mu, an increase of 1.348 million mu from the previous year, maintaining growth for six consecutive years [22] - The grain output reached 1.42975 trillion jin, an increase of 16.75 billion jin from the previous year [23] Group 4 - The national recycling of renewable resources reached approximately 380 million tons in 2025, with a series of measures introduced to promote green consumption [28] - The comprehensive meteorological observation system has been established, improving the monitoring rate of hazardous weather to 83% [28] - The focus on "dual carbon" initiatives is seen as a strategic choice to foster new productive forces and shape new international competitive advantages [29] Group 5 - Policies aimed at improving people's livelihoods include measures to stabilize employment, promote consumption, and enhance social welfare [33] - By mid-September 2025, over 90% of hospital discharges were under a disease-based payment system, with 114 new drugs added to the list, totaling 3,253 [34] - The central government allocated 500 billion yuan from local government debt limits to support investment and debt reduction efforts [39]

Domestic Demand - In December 2025, retail sales of passenger vehicles in China were 2.296 million units, down 13% year-on-year, compared to a 7% decline in November[2] - Retail sales of major home appliances decreased by 28.5% year-on-year as of January 2, 2026, but improved by 8.4 percentage points from the previous value[2] - The volume of postal express deliveries decreased by 0.9% year-on-year as of January 4, 2026, a decline of 2 percentage points from the previous value[2] - Daily box office revenue for movies was 53.55 million yuan, down 26.3% year-on-year as of January 9, 2026[2] Industrial Sector - The Nanhua Industrial Index rose by 2.4% this week, with the black materials index up 2.7% and the non-ferrous metals index up 5.3%[4] - Daily average pig iron production and cement clinker capacity utilization rates increased, while the apparent demand for major steel products declined[4] - New home sales in 30 major cities fell by 38.4% year-on-year as of January 9, 2026, a decrease of 7.4 percentage points from the previous week[4] External Demand - Port cargo throughput increased by 1.1% year-on-year as of January 4, 2026, but this was a decline of 0.9 percentage points from the previous value[4] - Container throughput at ports rose by 7.7% year-on-year, an increase of 0.5 percentage points from the previous value[4] - South Korea's export value increased by 13.4% year-on-year in December, up 5 percentage points from November[4] Price Trends - The price of rebar futures increased by 0.7%, while spot prices rose by 0.6% this week[4] - Coking coal futures prices increased by 7.2%, with Shanxi coking coal spot prices remaining stable[4] - The agricultural product wholesale price index decreased slightly by 0.4% this week[4]