Group 1 - The gold market continues to show strong momentum, with prices steadily rising due to dovish signals from Federal Reserve Chairman Jerome Powell at the Jackson Hole conference, alleviating market concerns about inflation and reinforcing expectations for a rate cut in September [1] - Powell's remarks are seen as a significant turning point in the macroeconomic environment, providing favorable support for the medium to long-term outlook of gold [1] Group 2 - Swiss Post announced the suspension of regular postal services to the United States starting August 26, due to the U.S. ending the tax exemption policy for imports valued under $800, requiring all goods to prepay tariffs [2] - This new regulation deviates from the Universal Postal Union standards and has prompted postal operators in several European countries, including the UK, France, and Germany, to follow suit and suspend parcel services to the U.S. [2] - Swiss Post is actively seeking solutions to resume services, particularly focusing on personal gifts valued under $100, aiming to restore normal operations to meet cross-border mailing demands [2] Group 3 - Technical analysis indicates that gold has stabilized above the middle band of the Bollinger Bands after breaking through significant resistance, confirming a short-term bullish breakout [3] - The support level at 3350 remains solid, allowing the bullish trend to continue, with potential further upward movement towards the 3400-3420 range [3] - As long as the support level is not breached, gold prices are expected to maintain a strong upward bias in the short term [3]

Core Insights - In July, the postal industry's business revenue (excluding direct operating income from Postal Savings Bank) reached 144.98 billion yuan, marking a year-on-year growth of 8.6% [1] - The express delivery business revenue amounted to 120.64 billion yuan in July, with a year-on-year increase of 8.9% [1] Revenue and Volume Summary - From January to July, the postal industry's cumulative business revenue totaled 1,018.07 billion yuan, reflecting a year-on-year growth of 8.3% [3] - Cumulative express delivery revenue for the same period reached 839.42 billion yuan, showing a year-on-year increase of 9.9% [3] - The total volume of postal delivery services from January to July was 122.3 billion pieces, up 16.2% year-on-year [3] - Express delivery volume for the same period was 112.05 billion pieces, with a year-on-year growth of 18.7% [3] Segment Analysis - In the first seven months, the cumulative volume of same-city express delivery reached 9.26 billion pieces, growing by 6.5% year-on-year [4] - The volume of intercity express delivery was 100.43 billion pieces, reflecting a significant year-on-year increase of 19.9% [4] - International/Hong Kong, Macau, and Taiwan express delivery volume reached 2.36 billion pieces, with a year-on-year growth of 19.2% [4] Market Share Dynamics - As of January to July, the shares of same-city, intercity, and international/Hong Kong, Macau, and Taiwan express delivery volumes were 8.3%, 89.6%, and 2.1%, respectively [7] - Compared to the same period last year, the share of same-city express delivery volume decreased by 0.9 percentage points, while intercity express delivery volume's share increased by 0.9 percentage points [7] Regional Performance - In the first seven months, the revenue share of express delivery in the eastern, central, and western regions was 74.0%, 15.5%, and 10.5%, respectively [9] - The volume share for these regions was 71.5%, 19.4%, and 9.1%, respectively [9] - The eastern region's revenue share decreased by 0.8 percentage points year-on-year, while the central and western regions saw increases of 0.5 and 0.3 percentage points, respectively [9] Industry Concentration - The concentration index CR8 for express and parcel service brands was 86.9, a slight decrease of 0.1 from the previous month [10]

Core Viewpoint - The impending expiration of the tariff exemption for small packages is causing a domino effect, leading multiple postal services worldwide to suspend deliveries to the United States [1][6]. Group 1: Impact on Postal Services - Various countries' postal services, including those in Asia, Europe, and Australia, are halting package deliveries to the U.S. due to the uncertainty surrounding new U.S. customs regulations [3][4][5]. - South Korea's postal service will stop accepting air packages and certain express services to the U.S., while Singapore Post will suspend standard services starting August 25 [3]. - Germany, Czech Republic, and Austria have also announced suspensions of postal services to the U.S. due to the changes in customs regulations [4]. Group 2: U.S. Customs Regulations - The U.S. Customs and Border Protection has outlined that packages shipped to the U.S. will be subject to applicable tariffs once the exemption period ends, affecting over 4 million packages processed daily [1][7]. - Packages valued under $800 that are not shipped via international postal systems will no longer enjoy the minimum tariff exemption, requiring full tariff payments [1]. - The new regulations may impose fixed fees ranging from $80 to $200 on packages, depending on the country of origin, and require detailed information submission from carriers [6]. Group 3: Industry Response - The international mailing and shipping industry is expressing concerns over the lack of clarity in the new regulations, which could lead to further disruptions in service [6][7]. - Online marketplace Etsy plans to suspend shipping labels for U.S. packages from Australia, Canada, and the UK, advising shippers to use carriers that allow pre-payment of tariffs [7].

Core Viewpoint - The article highlights the growth and transformation of China Post over the past 75 years, emphasizing its role in national development and its commitment to innovation, responsibility, and service to the community [1][4][7]. Group 1: Historical Development - Over the past 75 years, China Post has evolved from a state of poverty and weakness to a strong and prosperous entity, reflecting the broader narrative of national rejuvenation [4][11]. - The company has become the world's leading postal enterprise, achieving extensive coverage both domestically and globally [7]. Group 2: Commitment to Service - China Post expresses its commitment to "responsibility" by supporting financial inclusion and nurturing small and micro enterprises, thereby contributing to the overall economic development [11][14]. - The company aims to enhance rural logistics and empower rural e-commerce, facilitating the growth of rural areas [20]. Group 3: Global Integration - The company actively participates in the "Belt and Road" initiative, helping to promote Chinese manufacturing and culture on the global stage [25]. - China Post's efforts in building a new postal route reflect its dedication to international cooperation and cultural exchange [23][25]. Group 4: Innovation and Technology - The company focuses on innovation by leveraging digital technologies to enhance service efficiency and customer experience [28][31]. - China Post aims to create a smart and secure service environment, positioning itself for future growth through digital transformation [31].

Group 1 - The core viewpoint of the report is that Singapore Post's rating has been upgraded from "Hold" to "Buy" based on valuation reasons, with a slight adjustment of the fair value target from SGD 0.605 to SGD 0.590 [1] - Singapore Post has made progress in divesting non-core assets, including the sale of its freight forwarding business for SGD 177.9 million, which is expected to generate approximately SGD 10.5 million in disposal gains and release around SGD 104 million in cash [1] - The next step in asset monetization may involve sale-and-leaseback transactions of its post office network, with a potential deal for 10 post offices valued at SGD 50 million [1] Group 2 - Singapore Post is transitioning from a traditional postal service provider to a global logistics company, with potential catalysts for the future including value-accretive acquisitions in the region and feasible structural solutions for the sustainability of its domestic postal business [2] - The possibility of injecting real estate assets into a Real Estate Investment Trust (REIT) is also considered a potential growth avenue for the company [2]

Core Point - Hongkong Post has announced an immediate suspension of all postal services to Israel due to local events, effective until further notice [1] Group 1 - The suspension of postal services is a direct response to ongoing local events impacting operations [1]

Group 1 - The article discusses the tax rates applicable to various goods and services, highlighting a 9% tax rate for certain services such as transportation, postal, telecommunications, and real estate leasing [2] - It specifies that the sale of intangible assets, including patents and trademarks, is subject to a 6% tax rate, while the export of goods is generally zero-rated [3] - The article outlines specific services that qualify for a zero tax rate, including international transportation and certain cross-border services like R&D and software services [3]