YTO Express Group Co Ltd Class A

600233: XSHG (CHN)
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YTO Express Outperformed Yunda in the Third Quarter

Business Strategy and Outlook

The six largest privately owned express delivery companies accounted for around 82% of China’s parcel deliveries by volume in the third quarter of 2024, based on data from the companies and China’s State Post Bureau. With share already high, we think further volume share gain from smaller players is limited for these large companies.

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