金吾财讯 | 港股物流股盘初多股走高，截至发稿，海丰国际（01308）涨1.34%，嘉泓物流（02130）涨1.13%，中通快递-W（02057）涨0.97%，中国外运（00598）涨0.90%。消息面上，光大证券研究指，快递行业量收增速差持续为正，价格修复支撑盈利改善。1）行业：9月14日—9月20日，邮政快递揽收量约41.31亿件，环比+1.6%；投递量约40.53亿件，环比-0.4%。2）9月18日，国家邮政局发布数据显示，2026年8月快递业务量为166亿件，同比增长2.8%；快递业务收入为1271.5亿元，同比增长6.9%。1—8月快递业务量累计完成1340.6亿件，同比增长4.6%；快递业务收入累计完成10289.2亿元，同比增长7.4%，收入增速分别较业务量增速高4.2pct和2.8pct。整体来看，行业业务量保持平稳增长，量收增速差持续为正，“反内卷”治理推动竞争重心由规模扩张向服务质量与盈利改善转变。26Q2电商快递利润普遍大幅增长，进一步验证行业盈利进入改善通道。下半年受同期件量低基数、旺季需求释放和价格修复推动，有望实现量利齐升，看好头部企业份额与利润双增。
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