China’s delivery service industry shows steady growth despite challenges

Workers are seen at a logistics center in Longli County of Qiannan Buyi and Miao Autonomous Prefecture, southwest China’s Guizhou Province, Sept. 6, 2022. [Photo/VCG]

China’s express delivery services sector maintained steady growth in August, with most companies seeing increases in operational revenue, parcels and market share, news portal The Paper reported.

SF Express’ operating revenue in August reached 14.7 billion yuan ($2.09 billion), up 10.47 percent year-on-year. The turnover of YTO Express and Yunda Express reached 3.83 billion and 3.9 billion yuan, up 30.44% and 24.81% from a year earlier.

STO Express recorded the highest revenue growth rate last month, with a year-on-year increase of 66.36 percent to 2.96 billion yuan.

From February to April, SF Express’s revenue fell from a year ago, but the courier company saw its business recover from May and has maintained a growth rate of 8% to 14% in recent years. month.

In August, a total of 9.43 billion pieces were delivered to China, up 4.9% year-on-year.

SF Express, YTO Express and STO Express all achieved an increase in business volume over the previous year, up 9.15%, 10.14% and 34.26%, respectively.

However, Yunda Express delivered around 1.49 billion packages in August, registering a decline of 2.43% year-on-year and 6.18% month-on-month.

YTO Express accounted for 16.12% market share in China’s delivery service industry. Yunda Express ranked second at 15.78%, followed by STO Express at 13% and SF Express at 9.99%.

Regarding market expectations for the second half of the year, SF Express said the logistics sector’s recovery will accelerate as the pandemic is brought under control and economic activities resume.

As the traditional peak season for online shopping – the fourth quarter – approaches, business volume in the courier industry is expected to rise sharply in the near term, according to a report by Western Securities.

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