Group 1 - The core viewpoint of the article highlights the significant growth in China's postal industry, with a total express delivery volume reaching 1,045.1 billion pieces in the first half of the year, representing a year-on-year increase of 16.9% [1] - The express delivery business specifically saw a volume of 956.4 billion pieces, which is a year-on-year growth of 19.3% [1]

Core Insights - The postal industry in China reported a business revenue of 149.61 billion yuan in May 2025, marking a year-on-year growth of 7.5% [1] - The express delivery business revenue reached 125.55 billion yuan in May, with a year-on-year increase of 8.2% [1] - Cumulative business revenue for the postal industry from January to May 2025 was 718.73 billion yuan, reflecting an 8.0% year-on-year growth [1] Revenue and Volume Analysis - In May, the total volume of postal delivery reached 18.78 billion pieces, showing a year-on-year growth of 14.8%, with express delivery volume at 17.32 billion pieces, up 17.2% [1] - From January to May, the cumulative delivery volume was 86.18 billion pieces, a 17.6% increase year-on-year, with express delivery volume at 78.77 billion pieces, growing by 20.1% [1] Segment Performance - From January to May, same-city express delivery accounted for 8.2% of total express delivery volume, while intercity and international/Hong Kong-Macau-Taiwan deliveries made up 89.7% and 2.1%, respectively [2] - The share of same-city express delivery volume decreased by 1.0 percentage points year-on-year, while intercity delivery volume increased by 1.0 percentage points [2] Regional Insights - In terms of revenue, the eastern, central, and western regions contributed 74.0%, 15.5%, and 10.5% respectively to the express delivery business [2] - The eastern region saw a decline in both revenue and volume share compared to the previous year, while the central and western regions experienced increases [2] Market Concentration - The concentration index CR8 for express and parcel service brands was reported at 87.0, which is an increase of 0.3 from the previous month [3]