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China’s major express delivery companies mostly posted higher business volume and revenues for June, but revenue per parcel fell due to price war.
Industry leader SF Holding posted an operating revenue of 16.7 billion yuan for June, rising by 7.9% from a year earlier, and it handled 1 billion parcels, up 10.5%. STO Express’s operating revenue grew by 12.7% to 3.4 billion yuan, and parcel deliveries surged 28% to 1.5 billion. YTO Express saw its revenue rise 3.4% to 4.2 billion yuan and its processed 1.8 billion parcels, up 14%.
But Yunda Holding’s operating revenue fell 11.5% to 3.7 billion yuan in June and package deliveries fell 2% to 1.6 billion.
SF’s revenue per package fell 2.4% in June from a year earlier to 16.42 yuan, STO fell 12% to 2.21 yuan, YTO fell 9.3% to 2.37 yuan, Yunda fell 9.7% to 2.32 yuan, according to the data.
China’s total parcel handling rose about 16% in June from a year ago, while revenues rose around 11%, according to the State Post Bureau. First-half deliveries in China exceeded 60 billion parcels, a 17% surge from a year ago, and revenue from express delivery services rose 11.5% to more than 550 billion yuan, according to the bureau.