STO Express: The express delivery industry's "anti-involution" is expected to continue

STO Express stated at its earnings briefing on October 25 that the core of this round of "anti-involution" is to prohibit vicious price wars below cost. Price fluctuations between off-peak and peak seasons are caused by following the pace of e-commerce promotions, holidays, and the impact of cargo structure, and are normal price fluctuations. After the off-peak season in July-August, from September, pickup prices in some core express delivery regions have been repaired, with prices rebounding month-on-month compared with July-August. Looking ahead, as the industry's parcel volume growth slows and rigid costs such as fuel rise, the express delivery industry's "anti-involution" is expected to continue and gradually evolve into a long-term industry consensus on high-quality development.