Huatai Securities reports a strong first quarter for the e-commerce logistics sector, with most major players like STO Express, ZTO Express, and YTO Express showing significant volume growth above the industry average. This performance is attributed to stable pricing and cost reduction efforts, leading to improved per-package profitability compared to the previous year. The firm anticipates continued profit recovery throughout the year, supported by anti-monopoly regulations that are expected to maintain pricing discipline. AI
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