本篇报告回顾了快递物流板块2025 年上半年基本面变化及市场表现，维持对快递物流行业的“推荐”投资评级。2025 年上半年快递行业回顾：需求增长超预期，竞争加剧、价格降幅较大。1）受益于电商下沉市场和逆向物流的增长，快递业务量维持较快增长。2025年1-5 月，全国快递业务量累计完成788 亿件，同比+20.1%；快递业务收入累计完成5925 亿元，同比+10.3%。相较于同期社零增速（+5.0%...
Source Link本篇报告回顾了快递物流板块2025 年上半年基本面变化及市场表现，维持对快递物流行业的“推荐”投资评级。2025 年上半年快递行业回顾：需求增长超预期，竞争加剧、价格降幅较大。1）受益于电商下沉市场和逆向物流的增长，快递业务量维持较快增长。2025年1-5 月，全国快递业务量累计完成788 亿件，同比+20.1%；快递业务收入累计完成5925 亿元，同比+10.3%。相较于同期社零增速（+5.0%...
Source LinkDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.