Wen | Grey Pigeon
It is said that SF Express is the "first brother" of private express delivery in China, but only from the perspective of business volume, it seems that it is not enough.
According to the data of SF Holdings' 20 19 annual report, the annual parcel volume was 4.8 billion tickets, accounting for only 7.6% of China's 63 billion express delivery business in 20 19.
Among the three links, the smallest Tong Yuan has exceeded 7 billion.
Of course, SF's unit price is high, and its revenue reaches11200 million, which lags far behind other private express delivery companies, but in contrast, its net profit is only 5.8 billion, and its net interest rate is only 5%.
In contrast, ZTO Express, the leader of Tongda Department, has an annual revenue of only 22,654.38 billion yuan, but a net profit of 5.3 billion yuan and a net interest rate of 24%. Cost control is amazing.
In 20 19, the number of parcels delivered by ZTO reached121000000, which was about 2.5 times that of SF, and its market share was nearly 20%, ranking first among private express delivery enterprises in China.
From this perspective, Zhongtong is the real "one brother" of express delivery.
Of course, Zhongtong is not as fast as SF, but many times, we don't need to be so fast. If money is used to calculate time, maybe 90% people have a lot of time to wait, brush Weibo and play Tik Tok, and the day will pass.
In fact, Zhongtong has been pursuing not the fastest, but the most economical.
Shunfeng mainly flies in the sky, while Zhongtong mainly runs on the ground. Among all private express vehicles, Zhongtong has the most express vehicles. By the end of 20 19, the number of cars in China was 40,000.
These cars provide support for Zhongtong's ultra-low operating costs. The data shows that in 20 19 years, excluding cross-border business, the single ticket cost of domestic express delivery was only 1. 18 yuan.
Such a low cost makes Zhongtong dare to fight price wars in e-commerce business.
Statistics show that the average package price of Zhongtong is even as low as 1.63 yuan, while the single ticket prices of Tong Yuan, Shentong and Dayun, which are also Tongda departments, are 2.97 yuan, 2.82 yuan and 3.24 yuan respectively.
Because of the low price, the business volume of Zhongtong has been rising steadily. From 20 18 to 20 19, its market share increased by 2.3 percentage points.
With the increase of business volume, more and more cars are needed. Recently, ZTO Express bought 2,300 high-end heavy trucks in one breath.
It is worth mentioning that these 2,300 cars are all made in China, which is in line with the business purpose that Zhongtong has always pursued: "Only choose the right ones, not the expensive ones".
In fact, ZTO Express has always been different. Although it comes from Tonglu, the hometown of express delivery, it has come out of many different roads.
In terms of time, ZTO Express was established at the latest. In 2002, when the boss Lai entered the express delivery industry, SF, Shentong and Dayun had already made a lot of noise.
Different from other founders, before he entered the express delivery industry, he was already a timber boss worth millions of dollars, and his unique vision made him come from behind.
The early express trans-regional transportation mainly depended on airplanes and trains, and Lai was the first to open trans-regional network buses. At first, others laughed at him for being stupid, but now he has become competitive and his opponents have followed suit.
In the past, express outlets only had money when they received goods, but Lai created paid delivery fees and made money by delivering express delivery, which effectively solved the problem of unbalanced receiving and sending in regional outlets.
Now, this has become the practice of the express delivery industry.
The listing of ZTO Express is not the usual way. SF, Shentong, Tong Yuan and Dayun all took shortcuts through backdoor A shares, but went to NYSE to "circle money".
The performance after listing is also amazing. In the past two years, the stock price has almost doubled, and the latest market value has reached 204 billion, which is second only to SF Express and more than the sum of the other three markets.
If placed in the world, it is also the fifth largest express delivery listed company.
Of course, even so, Zhongtong will join Alibaba's camp like other Tongda brothers. The data shows that Alibaba holds 8.7% of the shares of Zhongtong, making it the second largest shareholder.
But it doesn't mean that you want to cash out, but most of the rivers and lakes in the express delivery industry rely on e-commerce. In 20 18, 56% of Zhongtong's parcels came from Ali e-commerce platform.
How can people not bow their heads under the eaves? The longest way of cooperation is to sit back and enjoy the success.
However, even if he gave up a large number of shares, Lai still firmly grasped the right to speak in Zhongtong, with more than 78% of the voting rights, and Zhongtong was still surnamed Lai.
Once interviewed by the media, when it comes to express delivery, Lai's first sentence is:
And he's not going back. Since Zhongtong went public, Lai has invested a considerable amount of money to increase its holdings every year. According to the latest data, Lai Zai's shareholding ratio is 27.3%, equivalent to about 56 billion yuan.
In contrast, Shentong's Chen brothers and sisters chose to transfer shares to cash out. Tong Yuan's controller announced in May that it planned to reduce its holdings by 39 million shares (a contract of 700 million), and Dayun's controlling shareholder accumulated 2 billion from the end of last year to the beginning of this year.
To be sure, Song Mei has made up his mind. Doing express delivery and communication has become his lifelong career.
It is this insistence on the initial heart that makes Zhongtong a real private express delivery "one brother" in market share.