金吾财讯 | 港股物流板块整体上扬，截至发稿，粤运交通（03399）涨2.99%，海丰国际（01308）涨1.95%，中通快递-W（02057）涨1.29%。消息面上，华泰证券表示，8月消费需求仍偏弱，社零总额/商品零售额/实物商品网上零售额分别同比+0.4%/+0.3%/+0.5%，增速较7月均有所放缓。快递行业件量同比+2.7%，增速环比回落，但件均价同比+4.0%，反内卷背景下价格改善趋势延续。旺季在即，全国新一轮涨价趋势逐步确立，旺季与反内卷有望形成共振，推动单票盈利及板块估值修复。该机构指，近期，国家邮政局副局长赴浙江等地调研，强调“持续治理行业‘内卷式’竞争”，或推动核心“产粮区”开启新一轮价格管控，考虑此前已在河北召开《河北省快递市场“内卷式”竞争治理专题座谈会》，并在河北推进价格管控措施，该机构认为全国新一轮涨价趋势逐步确立。行业旺季即将到来，件量增速已有回升迹象，旺季需求与反内卷政策形成共振；若涨价顺利向末端传导，电商快递龙头单票盈利有望修复，并带动盈利预期与估值同步改善。
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