国泰海通：快递件量增速趋缓反内卷助力盈利修复

智通财经01-08

智通财经APP获悉，国泰海通发布研报称，2025年11月全行业快递件量同比+5%，继续维持个位数增速。反内卷下行业份额集中趋缓，中通/圆通/韵达/申通25Q3净利率分别同比-0.9/+0.07/-1.5/+0.5pct，环比+4.8/+0.5/-0.07/+0.6pct，头部企业普遍实现盈利能力修复，预计Q4盈利修复趋势将持续。考虑本轮反内卷取得的良好效果，以及快递企业盈利修复后的正反馈效应，预计...

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href=http://www.zhitongcaijing.com/content/detail/1390270.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，国泰海通发布研报称，2025年11月全行业快递件量同比+5%，继续维持个位数增速。反内卷下行业份额集中趋缓，中通/圆通/韵达/申通25Q3净利率分别同比-0.9/+0.07/-1.5/+0.5pct，环比+4.8/+0.5/-0.07/+0.6pct，头部企业普遍实现盈利能力修复，预计Q4盈利修复趋势将持续。考虑本轮反内卷取得的良好效果，以及快递企业盈利修复后的正反馈效应，预计...</p>\n\n<a 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国泰海通：快递件量增速趋缓 反内卷助力盈利修复

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国泰海通：快递件量增速趋缓反内卷助力盈利修复