Jinwu Financial News | China Postal Securities released a Research Report indicating that each express company disclosed their November operation data, with overall business volume maintaining high growth, while unit prices have decreased year-on-year. Leading companies in their third quarterly reports mentioned ensuring market share, which may imply that moderate price competition will continue, benefiting the long-term healthy development of the Industry.
The bank remains Bullish on the continuous growth of the business volume of each express company driving revenue scale, while cost reduction and efficiency improvement enhance unit profitability. Valuations of various express companies are at relatively low levels, with a top recommendation for ZTO Express (02057), followed by recommendations for S.F. Holding (06936), YTO Express Group, and STO Express Co., Ltd., and attention on Yunda Holding.
