Investment Rating - The report maintains a "Recommendation" rating for the express delivery industry, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [34]. Core Insights - The express delivery industry is experiencing a divergence in growth rates among brands, with leading companies like Shentong and Yunda showing significant growth in January. Shentong's single ticket revenue increased by 14.1% year-on-year, while Yunda's grew by 6.4% [3][11]. - The report highlights the strong performance of YTO Express, which continues to lead in growth despite a general slowdown in the industry. The company is expected to maintain its competitive edge [4]. - The report emphasizes the potential of Jitu Express in Southeast Asia, projecting a 74% year-on-year increase in daily parcel volume by Q4 2025, indicating high growth potential in new markets [4]. Summary by Sections January Data Overview - In January, the parcel volume growth rates were as follows: YTO (29.8%), Shentong (25.6%), Yunda (10.8%), and SF Express (4.2%). Shentong's revenue growth was the highest at 43.3% year-on-year [8][11]. - Single ticket revenues for January were reported as follows: Shentong at 2.35 CNY, Yunda at 2.15 CNY, YTO at 2.25 CNY, and SF Express at 14.72 CNY [3][11]. Investment Recommendations - The report continues to recommend investment in Zhongtong and YTO due to their improved market positions and low valuations. It also sees potential in Shentong due to its significant earnings elasticity [4]. - SF Express is viewed positively, with a focus on its "Gain Plan" to optimize structure and enhance collaboration with Jitu Express, which is expected to yield future benefits [4].

今年是田追子在快递行业的第17个年头。这位来自陕西渭南的汉子，年轻时穿过军装，在部队里磨炼出坚 毅的性子。退伍后，田追子用补贴金学了两年计算机。2009年，听说圆通在西安开放加盟，田追子便凑齐 启动资金，接下了西安桃园北路丰庆网点的快递业务。从此，快递成了他生命中不可分割的一部分。 圆通速递陕西西安丰庆分公司的分拣站内 农历新年将至，西安的大街小巷弥漫着年味。2月10日，在圆通速递陕西西安丰庆分公司的分拣站里，快 递分拣线飞速运转，包裹如流水般一个接一个滑过。网点负责人田追子正埋头忙碌，眼神专注，手上的动 作一刻不停。"最近快递量特别大，大家都在买年货，我们得抓紧送。"他身后的快递车进进出出，满载着 年货驶向城市的各个角落。 扎根快递，提高效率，服务百姓，是田追子一直在坚持的事。这些年，田追子亲眼看着电商兴起，快递单 量飞涨，人力成本也一路攀升。利润薄了，活儿却更重了。"入库出库都得拿把枪扫，货一多，人再多也 不够用。"扎根快递行业17年，田追子比谁都懂网点的痛点——揽收快件时，得从客户处拉回网点，卸 车、扫描、再装车转运，一环扣一环，耗时耗力。他琢磨着，要是能有一台自动分拣机该多好。 起点新闻记者 惠璇璇 ...

经济观察网 圆通国际快递预期2025年度净亏损扩大至约1.45亿至1.54亿港元，主要受国际货运市场波动 及业务优化投入增加影响。同日，圆通国际在哈萨克斯坦推出本地寄递服务。此外，圆通速递 （600233）1月快递业务量同比增长29.75%，但单票收入有所下滑。多家快递公司宣布春节不停运。 近期事件2026年2月13日，圆通国际快递（06123.HK）发布盈警公告，预期2025年度净亏损约1.45亿港 元至1.54亿港元，较2024年亏损扩大，主要因国际货运市场波动、业务结构优化及国际化投入增加。同 日，圆通国际在哈萨克斯坦正式推出本地寄递服务，实现"同城当日达、跨城五日达"，物流准点率稳定 在99%以上，提升中亚市场服务能力。此外，快递行业发布2026年1月业绩快报，圆通速递 机构观点根据2026年2月14日最新机构观点整合，圆通速递A股机构综合目标价为21.50元，较当前价有 26.99%上涨空间；36家机构预测2025年净利润同比增长7.33%，2026年预测增速14.97%市场观点。券商 认为，公司受益于"反内卷"政策带动价格修复，AI技术助力成本优化，国际化布局中长期有望构筑第二 成长曲线。 以上内 ...

东方天地港地处长三角地理中心，是全国第二个、长三角首个专业性航空货运枢纽。2025年12月26日， 项目随嘉兴南湖机场同步投运通航，并在航空物流枢纽设计上突出专业化、智能化特色。通过深度融合 航空货运口岸监管场景，应用海关集中查验等功能及"数字孪生"等技术，为跨境电商货物、普货、快件 通达全球构建高效物流通道。 下一步，东方天地港将以口岸开放为新起点，持续完善运营体系、拓展航线网络、提升服务能级，与合 作伙伴共同推动嘉兴航空物流枢纽高质量发展。 （文章来源：南方都市报） 2月10日，嘉兴机场航空货运口岸临时开放获国家口岸管理办公室正式批复，嘉兴南湖机场成功获得"国 际通行证"！这是嘉兴全球航空物流枢纽建设进程中的重要进展，也标志着圆通东方天地港国际化物流 服务进入倒计时。 口岸临时开放是航空枢纽开展国际业务的前置条件。依托机场运行保障、口岸配套设施与疏港体系的协 同支撑，东方天地港已完成国际货运功能的基本构建。作为嘉兴全球航空物流枢纽的主要承载平台，东 方天地港严格对标航空货运口岸标准，推进设施建设与流程规范。目前，口岸作业区基础设施已全面建 成，通关保障能力满足投运要求。 业务筹备同步推进。东方天地港已锁定 ...

证券代码：600233 证券简称：圆通速递 公告编号：临2026-011 圆通速递股份有限公司 2026年1月快递业务主要经营数据公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 圆通速递股份有限公司2026年1月快递业务主要经营数据如下： 2026年2月14日 ■ 上述数据未经审计，敬请广大投资者注意投资风险。 特此公告。 圆通速递股份有限公司 董事局 ...

Group 1 - The core viewpoint of the article highlights that YTO Express (600233.SH) reported a revenue of 6.612 billion yuan for its express delivery products in January 2026, representing a year-on-year growth of 23.82% [1] - The total business volume reached 2.943 billion parcels, showing a year-on-year increase of 29.75% [1] - The revenue per parcel for express delivery products was 2.25 yuan, which reflects a year-on-year decline of 4.57% [1]

Core Insights - The company, YTO Express (圆通速递), reported a revenue of 6.612 billion yuan for its express delivery products in January 2026, representing a year-on-year growth of 23.82% [1] - The total business volume reached 2.943 billion parcels, which is an increase of 29.75% compared to the previous year [1] - The average revenue per parcel decreased to 2.25 yuan, reflecting a year-on-year decline of 4.57% [1]

证券代码：600233 证券简称：圆通速递 公告编号：临 2026-011 | 项目 | 2026 | 年 | 1 月 | | 同比变动 | | | --- | --- | --- | --- | --- | --- | --- | | 快递产品收入（亿元） | | | | 66.12 | | 23.82% | | 业务完成量（亿票） | | | | 29.43 | | 29.75% | | 快递产品单票收入（元） | | | | 2.25 | | -4.57% | 上述数据未经审计，敬请广大投资者注意投资风险。 特此公告。 圆通速递股份有限公司 董事局 圆通速递股份有限公司 2026 年 1 月快递业务主要经营数据公告 本公司董事局及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 圆通速递股份有限公司 2026 年 1 月快递业务主要经营数据如下： 2026 年 2 月 14 日 ...

Core Viewpoint - YTO Express announced that its express product revenue for January 2026 is expected to reach 6.612 billion yuan, representing a year-on-year growth of 23.82% [1] Financial Performance - The business completion volume is projected to be 2.943 billion pieces, showing a year-on-year increase of 29.75% [1] - The average revenue per express product piece is estimated at 2.25 yuan, which reflects a year-on-year decline of 4.57% [1]

Core Viewpoint - YTO Express announced that its express product revenue for January 2026 reached 6.612 billion yuan, representing a year-on-year growth of 23.82% [1] Financial Performance - The business volume completed was 2.943 billion parcels, showing a year-on-year increase of 29.75% [1] - The revenue per parcel for express products was 2.25 yuan, which reflects a year-on-year decline of 4.57% [1]