YTO Express, Yunda Express and Deppon Logistics have released their 2021 financial reports.
Photo from CFP
By BAI Fan
Express firms have seen their revenue quickly recovering in Q4 last year after a cut-throat price war bogged them down in the first half of 2021.
YTO Express made 45.2 billion yuan (US$6.89 billion) last year, up 29.4 percent. Net profit attributable to shareholders was 2.1 billion yuan, up 19.1 percent. Market share increased to 15.3 percent.
Yunda Express made 41.7 billion yuan, up 24.6 percent. Net profit attributable to shareholders increased by 5.2 percent to 1.5 billion yuan, with a market share of 17 percent.
Deppon express's total revenue was 31.4 billion yuan, up 14 percent.
Due to the price war at the beginning of 2021, single ticket revenue in Q1 last year declined sharply. SF Express had its worst quarter ever. Since Q3, many companies have been forced to change their strategy and single ticket revenue has increased significantly.
YTO’s Q4 net profit rose sharply to 1.1 billion yuan, more than the previous three quarters combined. Deppon made 115 million yuan. Yunda and S.F. Express also saw their Q4 net profits jump.
The rebound has continued into Q1 this year. However, over the past four months, the epidemic has had a great impact on the industry, with some networks and transit centers shut down. In March, deliveries were down 3.2 percent to 8.5 billion pieces. Income fell 4.2 percent.