November A-share express delivery companies' performance inventory: The old script of "trading price for volume" is fading out, and deep reshuffling has begun.

Influenced by "Double 11" and "Black Friday", November is the peak season for express delivery services. Recently, four A-share express delivery companies disclosed their November performance, with Shunfeng leading the growth in business volume, Shentong and Yunda seeing a significant increase in revenue after their merger, and YTO experiencing a year-on-year decline in business volume. This shows that the performance of listed express delivery companies is significantly differentiated, and the industry is shifting from price and scale competition to value competition. In the second half of the year, the competitive landscape of the industry is changing, with Sinolink Securities believing that the industry structure may accelerate differentiation, and future competitive focus will shift towards differentiated services and other aspects.