交通运输物流:当前时点如何看待快递“反内卷”?

中金公司
Aug 03, 2025

行业近况我们在7 月20 日报告中提示“反内卷”改善快递盈利预期;当前我们认为预期修复或已完成,后续行情取决于提价落地(区域和幅度)及持续性。评论短期问题:为什么现在淡季就开始提价以及提价成功的条件?快递作为涉及民生的服务性行业,“反内卷”的出发点是保障消费者和快递员的合法权益。2021 年的提价是七部委联合发文要求保障快递员合法权益,因而全国范围内快递价格普涨,目前这次我们看到国家邮政局更多是...

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