Yunda Holding Co Ltd Class A

002120: XSHE (CHN)
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¥86.40RlwrCksqqhwcr

Yunda Holding's Cost-Control Efforts Are Materially Better Than Expected

Business Strategy and Outlook

The network partner model-based companies in China have gained parcel volume share from direct operation-based companies, with share rising to 78% in 2023 from 76% in 2022. The six largest express delivery companies controlled around 87% of China’s parcel deliveries by volume in 2023, based on data from the companies and China’s State Post Bureau. With share already high, we think further volume share gain is limited for the network partner model-based companies.

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