Recently, the Hurun Research Institute officially released the "2024 Global Unicorn List". In the field of express logistics, a total of 44 companies were on the list, an increase of two over the same period last year. China's express logistics companies have performed well in this selection, including Cainiao Network, Cargo Lala, JD Industrial Development, Hive Hive Technology, SF Express, Zhongtong Express and other enterprises have been successfully shortlisted, fully demonstrating the strong momentum and innovation vitality of the sustainable development of China's logistics industry.
01
Soaring "logistics unicorns"
The list brings together many of the world's unlisted companies founded after 2000 and valued at more than $1 billion. The purpose of the list is to select the most valuable and high-growth potential innovative enterprises, as a vane in the field of new economic development and innovation and entrepreneurship. The company's inclusion in the Hurun Global Unicorn List not only represents the market's high recognition of its comprehensive strength, but also confirms that it has strong development potential.
Among the shortlisted Chinese logistics companies, Cainiao Network, as the world's largest cross-border e-commerce logistics company, ranked 47th on the list with a valuation of 74.5 billion yuan; followed by Lala, with its flexible and convenient intra-city freight services, won wide recognition in the market, ranking 64th on the list, which is also its fourth time on the list; With its outstanding performance in supply chain management and technological innovation, JD Industrial Development ranked 94th, with a valuation of 53 billion yuan.
In addition to the above three companies on the top 100 list, Chinese logistics companies such as Hive Hive Technology, Didi Freight, SF Express, Zhongtong Express, JUSDA, and Dayayshun also occupy a place in the global unicorn list. Among them, Hive Nest Technology is an "old friend" on the list, which has been on the list for 6 consecutive years, and this time it has successfully been on the list with its 9 years of precipitation in the terminal logistics industry, ranking 270th with a valuation of 25 billion yuan; By providing users with efficient and high-quality services, Didi Freight's corporate influence has been continuously improved, ranking 320th this time, with a valuation of 21 billion yuan; As a representative of high-end logistics services, SF Express has been shortlisted for four consecutive years, ranking 373rd with a valuation of 20.5 billion yuan. With its perfect service network and efficient operation model, Zhongtong Express is favored by consumers, ranking 495th on the list, with a valuation of 15.5 billion yuan; With its outstanding performance in precision distribution and supply chain optimization services, JUSDA and Dayayshun ranked 537th and 759th respectively, with valuations of 14 billion yuan and 11 billion yuan, respectively.
As a representative of unicorns in the field of technology logistics, Fuyou Truck has been shortlisted for the fourth consecutive year and is the only company in the field of vehicle transportation. In addition, G7, Jizhijia, Shuhai and other Chinese logistics companies have also successfully entered the list of global unicorns, they have shown strong competitiveness in their respective segments, through innovative business models and technology applications, to provide customers with more diversified and personalized logistics solutions, demonstrating the outstanding strength and innovation ability of China's logistics industry.
02
Digital intelligence injects new momentum
Unicorn enterprises have the characteristics of high growth, strong innovation and great development potential, and are the key force to promote economic transformation and upgrading and the development of new quality productivity.
In recent years, the digital transformation of the express logistics industry has accelerated, and the rise of logistics unicorn enterprises has injected strong momentum into the digital and intelligent upgrading of this industry. It is not difficult to find that this year's shortlisted logistics unicorn companies are generally led by digitalization and intelligence, actively empowering the traditional express logistics industry and promoting its transformation and upgrading to a higher level, which has become one of their common characteristics.
Taking Cainiao Network as an example, in the past few years, it has continued to build and optimize its own digital and intelligent logistics system, and in 2014, it took the lead in launching a standardized electronic face sheet system in China, which promoted the digitalization rate of parcels in China's logistics industry from less than 5% to more than 80% in less than three years. Not only that, Cainiao Network has also launched a one-stop logistics digital solution that includes automation, digital supply chain and intelligent hardware, so as to further improve the efficiency and cost-effectiveness of the entire logistics value chain.
In addition to the rookie network, express companies represented by SF Express and Zhongtong Express have increased investment in informatization, and automated and intelligent transportation and sorting equipment have been widely applied in major distribution centers. As express delivery companies put digital innovation into practice, digital and intelligent solutions for terminal distribution, trunk transportation, warehousing and sorting have been continuously implemented, and the level of industry informatization and intelligence has been significantly improved.
Among them, in the field of terminal distribution, Hive Hive Technology, which is on the list this time, has launched a variety of unmanned delivery vehicles to the market, which can realize 24-hour automatic distribution, effectively improve delivery efficiency and reduce labor costs; In the logistics park, JD Industrial Development provides comprehensive solutions for the construction and operation of modern standard warehouses, integrated intelligent industrial parks, data centers, photovoltaic new energy and other infrastructure construction and operation for the whole industry through investment and development, asset management and diversified value-added services, so as to promote the intelligent and intelligent transformation of logistics parks. In the field of trunk transportation, Fuyou Truck is committed to using big data, artificial intelligence and other technologies to promote the digital, standardized and intelligent operation of transportation vehicles, so as to achieve efficiency leaps and cost optimization.
With the advent of a new round of scientific and technological revolution, the construction of intelligent supply chain has become an important development direction. Based on mature supply chain service capabilities, Dayayshun has launched supply chain management solutions for multiple subdivided industries, and actively uses 5G, Internet, big data and other related technologies to intelligently upgrade logistics equipment and facilities to achieve efficient connection between different operation links; At the same time, more than 20 core technologies including order optimization management, warehouse management, capacity scheduling, intelligent route planning and intelligent equipment have been formed, and more than 40 sets of information systems have been independently developed, basically realizing digitalization and informatization throughout the core business links of supply chain services, laying a solid foundation for providing efficient and stable supply chain services.
In the eyes of industry insiders, digitalization is the "accelerator" for the development of the logistics industry, which can realize interconnection, break down information barriers, help logistics companies improve operational efficiency, save costs, and bring better service experience to consumers. From the perspective of China's express logistics companies in the 2024 global unicorn list, these unicorn companies have outstanding performance in their respective segments, accurately grasp the cutting-edge direction and development trend of scientific and technological innovation, and actively explore the application of emerging technologies and innovative service models, promote the continuous optimization of express logistics timeliness and service quality, and significantly enhance their comprehensive competitiveness, so as to help the cultivation and growth of new quality productivity in the entire industry, which not only shows the vitality of the innovation and development of China's express logistics industry on the world stage. It also provides new ideas and directions for the development of the global logistics industry.
03
The problem of big but not strong still exists
Behind the success of logistics unicorns, it is inseparable from the in-depth exploration of digital innovation and a keen insight into market demand. From next-day delivery, next-morning delivery to half-day delivery, from the wide application of unmanned distribution to the innovative practice of express delivery into the village, these measures have provided a huge boost for the vigorous development of the express logistics industry.
In recent years, the express logistics industry in mainland China has flourished and continued to maintain a steady growth trend. According to the latest data from the State Post Bureau, in 2023, the mainland's express delivery business volume will complete a total of 132.07 billion pieces, a year-on-year increase of 19.4%, setting a new historical record in the industry. Entering 2024, the industry still maintains a steady upward trend, and as of April 29, the express delivery business volume has reached 50 billion pieces, which is 32 days ahead of 2023.
The volume of express delivery business continues to grow, and the scale advantage accelerates, further highlighting the vigorous vitality and strong momentum of the express logistics industry. However, at the same time, the industry should also face up to the current problems in the industry, that is, the phenomenon of uneven and insufficient development is still significant, the characteristics of "big but not strong" are still prominent, and the homogeneous competition situation in the industry is very severe.
"Because of its huge market size and rapid development momentum, the express logistics industry has attracted many companies to join the war, and the competition is becoming increasingly fierce, which can be seen from the intensifying 'price war'." Kong Zhen, an expert in the logistics industry, said that in recent years, the volume of express delivery business in mainland China has continued to grow, and the revenue growth rate of express delivery companies is far greater than the overall performance of the market. However, due to the excessive reliance of these companies on the competitive strategy of exchanging price for volume, the entire industry has fallen into a strange circle of "increasing revenue without increasing profits", and the major express delivery companies have also been "rolled" exhausted, and the price and profitability of a single ticket have bottomed out. In addition, the business model is relatively simple, and the networked and integrated service capabilities are still insufficient, which makes the mainland express logistics enterprises lack competitiveness in the global market.
Not only that, the overall service level of domestic express delivery companies also has a lot of room for improvement. For example, in the terminal distribution link, the quality of vehicles is not up to standard, and the distribution trucks do not meet the diversified needs of the market. The crux of express delivery is not called, not door-to-door, and poor service attitude is deeply criticized by consumers; The development of outlets is uneven, and the infrastructure in some areas is relatively backward and the level of intelligence is low, and other problems still need to be improved; The whole industry is showing a trend of low profits and no profits, which has led to strikes and closures of some express franchise outlets, which seriously affects the quality of express delivery services.
In addition, in terms of overseas market expansion, the current domestic express logistics giants have increased their overseas layout and actively carried out cross-border logistics business, but the overall scale is far less than the top international express delivery companies, and has not yet established a global express delivery system.
04
Gradually enter the stage of high-quality development
Despite facing many challenges, on the whole, the mainland express logistics industry is developing from traditional factors-driven to innovative factors, from the pursuit of quantity to the improvement of quality, and from single logistics to integrated logistics. At the same time, under the active guidance of policy supervision, the express logistics industry, which has been plagued by the "price war", is gradually embarking on the track of healthy development, and the development environment has also ushered in a new situation of reversal change, and market competition is gradually changing from price-driven to value-driven.
In a relatively benign market competition and stable business flow environment, express logistics companies are actively cultivating and accelerating the formation of new quality productivity, which not only promotes the development of enterprises themselves, but also helps China's express logistics industry to achieve a historic transformation from large to strong.
"At present, with the continuous influx of capital, the deep integration of express logistics by e-commerce giants and the continuous standardization of the policy environment, the domestic express logistics industry is standing at an important juncture of transformation and upgrading, and improving quality and efficiency has become the main theme leading the industry forward. For express logistics companies, continuing to rely on extensive competition models for expansion is likely to fall behind in the next stage of competition. Therefore, enterprises urgently need to break the low-price competition of homogeneous services through technological innovation, management optimization and business model innovation, so as to achieve continuous advancement in the value chain. Dai Dingyi, an expert in the logistics industry, emphasized that in the new stage of refined operation, the core competitiveness will focus on the two key points of "service" and "efficiency". Nowadays, the express delivery industry puts forward higher requirements for service quality, and the space for profit will gradually shrink only by relying on cost advantages. In the future, only by improving service quality and realizing service premium, can enterprises fundamentally get rid of the whirlpool of cost involution, conform to the trend of industry change, and move towards the broad road of transformation and upgrading.
"In the future market competition, high-quality service will become a decisive competitive factor." Zhao Xiaomin, CEO of Guanshuo Capital, also emphasized that only by forming differentiated advantages in business strategy, management mode and service quality can relevant enterprises truly consolidate their position in the industry. Therefore, when formulating future strategic planning, express logistics enterprises must pay attention to coordinated development, accelerate the pace of innovation and transformation, promote the refinement of product classification, service stratification and personalization, continue to upgrade the business model, carry out in-depth expansion to the upstream and downstream of the industrial chain, and gradually realize the transformation to an integrated logistics provider.
At present, the "battle of quality and efficiency" in the express logistics industry has begun, and many express companies are adjusting their competitive strategies, changing from "blind expansion" to "lean management", focusing on improving distribution efficiency, expanding logistics networks, upgrading distribution systems, and optimizing terminal links; At the same time, we will strive to create differentiated competitive advantages, and enhance the core competitiveness of enterprises by continuously improving the level of operation management and service quality, and improving customer experience.
In addition, the head express logistics companies are also accelerating innovation and transformation, seeking new breakthroughs in supply chain upgrading, "express delivery into the village", "express delivery to the sea" and other aspects.
Taking "express delivery into the village" as an example, the major express logistics enterprises actively adapt to the characteristics of "many products, fresh quality and large quantity" of agricultural products, and significantly improve the level of service capacity in rural areas and promote the large-scale development of agricultural product delivery business by innovating the collection mode, increasing investment in cold chain technology, optimizing transportation paths, and extending the service chain. According to the data, more than 100 million express parcels are currently flowing in rural areas every day, providing strong support for rural production services, promoting rural consumption, connecting urban and rural economies, and smoothing market circulation.
In addition, integration and internationalization is the only way for the development and growth of the express logistics industry, and it is also the second key battle faced by China's express logistics enterprises. The industry generally believes that facing the future, domestic express logistics companies need to actively promote the strategy of express delivery to the sea, continue to strengthen the construction of cross-border networks, accelerate the construction of a modern and international express logistics system, and deeply participate in the global industrial division of labor and cooperation; At the same time, it is also necessary to speed up the construction of overseas warehouses and logistics hubs, strengthen cooperation with international e-commerce and logistics enterprises, continue to optimize the whole chain of cross-border services, and build a stable and reliable new development path to ensure the security of the international supply chain.
At the same time, the express logistics industry will also usher in a new stage of resource integration. With the rapid development of the industrial chain and supply chain, the high-efficiency supply chain will promote the express logistics enterprises to accelerate the transformation to a comprehensive service platform. These platforms will provide efficient, integrated and customized supply chain services based on the logistics needs of the digital industry chain. In this process, technology, efficiency, management, service quality, channel construction, information management and control capabilities and business models and other elements will become an indispensable advantage of express logistics enterprises in the competition.
It is foreseeable that with the continuous optimization of resource factor conditions, the differentiation of the express logistics industry will be further intensified. Weaker companies may gradually lose market share, while those with stronger management capabilities, better service quality, and better cost control will further demonstrate their competitive advantage. At the same time, the national policy level is also continuing to increase support for the express logistics industry, encouraging qualified trade and logistics enterprises to optimize resource allocation, expand business scale through mergers and acquisitions, listing financing, alliance cooperation and other ways, and encourage enterprises to carry out technological innovation and business model innovation. Driven by both policy and market, China's express logistics industry will accelerate the pace of resource integration and strive to build a comprehensive express logistics enterprise with global competitiveness.
Text: Li Yanan Editor: Sun Weichuan Layout: Wang Kun
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