中国快递按下转型升级"换挡键" 新的增量从何而来

中国快递业实现了从规模驱动向质效并重的转变。上半年快递业务量突破千亿件，同比增长5%，业务收入超7700亿元，同比增长7.3%1，业务收入增速首次超越业务量增速1。这一转变反映出行业正在积极调整发展路径，通过多措并举推动盈利能力提升。

利润端表现尤为亮眼。顺丰扣非归母净利润同比增长9.3%1，圆通、韵达、申通等企业上半年归母净利润增幅均超70%1，增速普遍跑赢件量增速。成本管控成为提升利润的重要抓手——中通单票分拣及运输成本合计下降4分钱1，韵达股份单票费用同比下降7.46%1。这些数据反映出快递企业通过科技赋能和流程优化，实现了降本增效。

技术创新正在重塑快递的末端配送体系。全国已投用超1.6万台无人快递车、400多架无人机开展末端配送服务1。智能客服的广泛应用也提升了运营效率，中通约90%商家售后工单、70%收件用户诉求由智能客服独立完成闭环处理1。同时，快递企业还通过整治价格竞争和开拓新市场来寻求增长动力。去年8月4日起，主要快递企业达成价格共识，广东省快递底价每票上调0.4元1。上调后，今年上半年广东省快递业务量同比下降5.8%，但业务收入同比增长6.5%1，表明提价改善了收入质量。在拓展新领域方面，京东物流一体化供应链总收入达594亿元，同比增长18.5%1，圆通已开通170条货运航线，覆盖亚洲主要区域和东欧部分区域1，这些举措为行业开辟了新的增长空间。

China's express delivery sector has reached a turning point, with profit growth now outpacing volume expansion for the first time, signaling a transition from rapid scale growth to a focus on efficiency and profitability.1 In the first half of the year, the industry processed over one billion parcels with a 5% year-on-year increase in volume, while business revenue exceeded 7,700 billion yuan with a 7.3% increase.1 This divergence reflects fundamental changes in how major carriers are competing and operating.

Major logistics firms have reported strong profit gains that significantly surpassed their volume growth rates.1 Shunfeng achieved a 9.3% increase in non-GAAP net profit attributable to the parent company, while Yuantong, Yunda, and Shentong all recorded net profit growth exceeding 70%.1 Cost reduction has been a key driver, with Zhongtong lowering its combined ticket cost for sorting and transportation by 0.04 yuan, and Yunda reducing per-ticket expenses by 7.46% year-over-year.1

The industry is aggressively deploying automation and artificial intelligence to enhance operational efficiency.1 Over 16,000 autonomous delivery vehicles and more than 400 unmanned aircraft have been deployed nationwide for last-mile delivery services.1 Zhongtong has achieved particular progress in customer service automation, with intelligent systems independently handling roughly 90% of merchant after-sales cases and 70% of customer pickup inquiries.1 In addition, major carriers reached a price consensus beginning August 4 of last year, raising the base delivery rate in Guangdong Province by 0.4 yuan per parcel.1

The impact of these measures is evident in regional performance.1 Guangdong Province, a key logistics hub, saw express delivery volume decline 5.8% year-on-year in the first half while revenue grew 6.5%, further demonstrating the shift toward value over volume.1 Expansion into new markets has also contributed to growth, with Yuantong operating 170 cargo airline routes covering major Asian regions and parts of Eastern Europe.1 Meanwhile, JD Logistics reported total integrated supply chain revenue of 59.4 billion yuan, up 18.5% year-on-year.1