Core view:
This week’s industry hot news on December 1, Ningbo Zhoushan Port Company Limited(601018) announced that the handling fee will increase by 10% from January 1, 2022, and the port prosperity may usher in an inflection point. In December 1st, the tiktok electricity supplier launched the joint home link, Tantong and rhyme service in the near future, the charge standard is 0.8 yuan / piece. On December 3, Yto Express Group Co.Ltd(600233) 3.79 billion yuan of fixed increase was implemented, and the issuance price of fixed increase was 14.04 yuan / share.
This week’s performance: this week (2021.11.29-2021.12.03), the Shanghai Composite Index and Shanghai and Shenzhen 300 week increases were + 1.22% and 0.84% respectively, and the transportation index was 2.55%; In terms of transportation sub sectors, port 9.37%, bus 3.07%, air transportation 1.13%, airport – 2.62%, expressway + 2.24%, shipping 11.70%, railway transportation 1.40% and logistics – 0.84%. There are many sub sections of transportation rising this week, including port and shipping, with only two sub sections of airport and logistics falling.
Head stocks rose the top five stocks delivered this week: San Yang Ma (Chongqing) Logistics Co.Ltd(001317) (001317. SZ) + 33.07%, Cosco Shipping Holdings Co.Ltd(601919) (601919. SH) + 17.05%, Shanghai International Port (Group) Co.Ltd(600018) (600018. SH) + 16.77%, * ST Dexin (002245. SZ) + 16.52%, Milkyway Chemical Supply Chain Service Co.Ltd(603713) (601518. SH) + 13.85%.
It is suggested that with the government’s increasing supervision of the express industry and the acquisition of Baishi China Express business by Jitu, the price war in the industry will remain relaxed in the medium and short term. Due to the continuous investment of the express industry in infrastructure and digital transformation, cost reduction and efficiency increase have been gradually realized, and the single ticket income of some companies has been continuously improved to promote the repair of profits.
The risk indicates that the epidemic situation occurs repeatedly and the economic growth rate is lower than expected; E-commerce development and online shopping demand slowed down more than expected, the construction progress of express network was less than expected, and the competition pattern deteriorated.
(China Post securities)
