Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Crystal Baller: Tracking Traffic's Key 2025 Themes & Events: Containers | Express | Chinese Tourism

ZTO FY24 & J&T Global Q424 Volume Growth Rates Suggest Painful Price-Volume Tradeoffs Continue

Monthly Chinese Express Tracker: Fight For Parcel Volume Share Heated Up in Q424 (January 2025)

Monthly Chinese Express Tracker | Q3 Volume Growth & Price Declines Both Moderated | (October 2024)

SF Holding Pre-IPO: Head-To-Head Comparison of SF Holding & JD Logistics

Monthly Chinese Express Tracker | October Volume Firmed | ZTO Disappoints | SF HK IPO This Week

ZTO Express Q324 Results: Shift in Strategy Leads to Lower Core Margins & FY24 Guidance Cut | AVOID

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

<ul>
<li>Volume growth &amp; price declines both moderated in November vs preceding months</li>
<li>We believe most express companies should be experiencing margin expansion in Q424</li>
<li>We finish with a review 2024's winners and losers in China's ecomm fulfillment space</li>
</ul>


Volume growth &amp; price declines both moderated in November vs preceding months
We believe most express companies should be experiencing margin expansion in Q424
We finish with a review 2024's winners and losers in China's ecomm fulfillment space


Cainiao Smart Logistics Network (1437124D HK)

Monthly Chinese Express Tracker | November Volume, ASPs | Review of YTD Performance (December 2024)

S.F. Holding

Monthly Chinese Express Tracker | November Volume, ASPs | Review of YTD Performance (December 2024)