Changes in Hong Kong stocks | SF Express Tongcheng (09699) rose nearly 7% in early trading competition in the takeaway industry intensified, Yamato said it is expected to drive the group's order volume

The Zhitong Finance App learned that SF Express Tongcheng (09699) rose nearly 7% in early trading. As of press release, it had risen 5.59% to HK$18.12, with a turnover of HK$465.773 million.

According to the news, on the evening of July 5, the takeout war between Ali and Meituan heated up. Alibaba's Taobao Flash Sale distributed a large number of takeout red envelopes last Saturday (5th). Taobao flash sales partner Hungry jointly announced that the number of daily Taobao flash sales orders exceeds 80 million, including more than 13 million non-food orders, and more than 200 million daily active Taobao flash sales users. Furthermore, as of 22:54 on July 5, Meituan's instant retail orders had exceeded 120 million orders on the same day, of which food and beverage orders had exceeded 100 million.

Yamato previously pointed out that as consumers increasingly pay attention to convenience and user experience, SF Express's delivery service in the same city has expanded from food delivery to different products and services. Recently, competition on takeout platforms has intensified, and increasing market share through increased promotion will indirectly drive the Group's order volume. Bank of America Securities pointed out that during the Labor Day holiday in May, SF Express's trading volume accelerated to 87% year-on-year. During the 618 period, the average daily trading volume increased by 50%, offsetting the impact of the decline in average prices. The bank expects the company's on-demand logistics transaction volume to increase by more than 40% year-on-year in the first half of the year, which is higher than the preliminary growth guideline of 30%.