本期投资提示:快递反内卷进入新阶段,本轮快递反内卷提价力度超前,市场对持续性存在较大分歧,诸多迹象表明反内卷区域有望从广东进一步扩散。短期关注:其他区域提价情况、广东执行力度与持续性、若9.1 社保新规落地后的传导。对于反内卷新阶段,我们做出三种假设:1)行业价格洼地消灭,利润持续修复,最终趋于公用事业化,在满足快递员权益的同时进行较大规模分红。2)较多区域仍延续之前竞争态势,行业分化加剧。3)...
Source Link本期投资提示:快递反内卷进入新阶段,本轮快递反内卷提价力度超前,市场对持续性存在较大分歧,诸多迹象表明反内卷区域有望从广东进一步扩散。短期关注:其他区域提价情况、广东执行力度与持续性、若9.1 社保新规落地后的传导。对于反内卷新阶段,我们做出三种假设:1)行业价格洼地消灭,利润持续修复,最终趋于公用事业化,在满足快递员权益的同时进行较大规模分红。2)较多区域仍延续之前竞争态势,行业分化加剧。3)...
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