Yunda Holding Group Co., Ltd. provides express delivery services in China, including transshipment, warehousing, distribution, and value-added services such as cash on delivery, insured business, and reverse logistics. It also sells packaging materials, machinery, equipment, food, and petroleum products, and engages in investment management, cargo transportation and forwarding, technology development, supply chain management, e-commerce, real estate leasing, advertising, and property management. The company was formerly known as YUNDA Holding Co., Ltd. and changed its name to Yunda Holding Group Co., Ltd. in November 2024. Founded in 1996, it is based in Shanghai, China.
Yunda profit surges on firmer parcel pricing; equity plan locks in team
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Profit jumped as each parcel earned more Yunda's first-half net profit rose about 89% to 998 million yuan, with revenue up 6.5% and cash flow up 61%. The key driver was price: revenue per parcel climbed to 2.13 yuan from 1.92 yuan a year earlier, so the company earned more on each delivery even though parcel volume was roughly flat.
The profit surge and the pricing reason behind it are the core force lifting the stock.
Industry price war easing supports pricing June data showed Yunda's average price per parcel at 2.11 yuan, up both year on year and month on month. Analysts expect the industry's anti-cutthroat competition push to continue in the second half, though more moderately, keeping pricing rational and helping profit recovery across express firms.
Industry-wide pricing discipline is the external force behind Yunda's profit recovery.
Employee share plan ties core staff to targets Yunda will grant 21.23 million repurchased shares to up to 185 core employees at 4.80 yuan, about a 30% discount, raising 102 million yuan. Targets require 2026 net profit growth of at least 50% or revenue growth of 5%, and 2027 profit growth of 80% or revenue growth of 10.25%.
The plan signals management confidence and aims to retain talent ahead of peak season.
Volume growth still lags bigger rivals Yunda's June parcel volume was flat year on year and its first-half market share held at 12.2%, behind ZTO, YTO and STO. The profit rebound rests mainly on higher prices rather than winning more business, so gains could fade if pricing discipline weakens or rivals keep taking share.
This is the real counterweight: the recovery is price-led, not volume-led.
Yunda launches 102 million yuan employee stock ownership plan at a 30% discount, covering 185 core employees
Yunda Holding announced its 2026 employee stock ownership plan on October 7, planning to grant 21.23 million repurchased shares to no more than 185 core employees at 4.80 yuan per share, a discount of about 30% to the market price, with a fundraising cap of 102 million yuan. As of the close on October 8, Yunda's share price stood at 6.79 yuan per share, giving it a market value of about 19.686 billion yuan. The plan has a duration of no more than 36 months and a lock-up period of 12 months, with 50% unlocking in each of two phases. Performance targets use 2025 as the base year: 2026 revenue growth of no less than 5% or net profit attributable to the parent company growth of no less than 50%, and 2027 revenue growth of no less than 10.25% or net profit attributable to the parent company growth of no less than 80%. Yunda's performance had previously come under pressure. For the full year 2025, revenue was 51.475 billion yuan, up 6.04% year on year, while net profit attributable to the parent company was 1.171 billion yuan, down 38.79% year on year. In the first half of 2026, net profit attributable to the parent company grew more than 80% year on year, and non-GAAP net profit grew 105.68%, but market share and parcel volume growth still lagged behind ZTO, YTO, and STO. Express delivery expert Zhao Xiaomin said that launching the plan before the Double 11 shopping festival helps Yunda stabilize its core team and boost confidence.
002120.CS · Capital · Positive Yunda launches a 102 million yuan employee stock ownership plan at a 30% discount with performance targets, an equity-incentive/financing event aimed at stabilizing its core team.
Multiple Companies on Shanghai and Shenzhen Exchanges Disclose Half-Year Reports and Major Matters
On the evening of August 25, multiple listed companies on the Shanghai and Shenzhen exchanges issued announcements disclosing half-year reports and major matters. Wanhua Chemical's subsidiary, Hungary's BorsodChem, resumed production at its facilities; CICC received approval to issue corporate bonds of up to 80 billion yuan; Advanced Micro-Fabrication Equipment's advanced thin-film equipment cumulative shipments exceeded 500 reaction chambers. In terms of performance, NAURA Technology Group posted first-half net profit of 3.37 billion yuan, up 5.05 percent year on year; Wus Printed Circuit posted net profit of 2.923 billion yuan, up 73.72 percent; CGN Power posted net profit of 6.105 billion yuan, up 2.66 percent; OKE Precision Cutting Tools posted net profit of 371 million yuan, up 47,734.24 percent; Hangzhou Cable posted net profit of 393 million yuan, up 938.67 percent; Joyson Electronics posted net profit of 739 million yuan, up 4.43 percent; Yunda Holding posted net profit of 998 million yuan, up 88.82 percent; Yahua Group posted net profit of 1.216 billion yuan, up 795.48 percent; Changjiang Securities posted net profit of 3.192 billion yuan, up 83.8 percent; Suzhou Good-Ark Electronics posted net profit of 77.2942 million yuan, up 76.87 percent; Yunnan Chihong Zinc & Germanium posted net profit of 1.59 billion yuan, up 70.58 percent; Jiangxi Copper posted net profit of 8.632 billion yuan, up 106.77 percent; Shanghai Yashi posted net profit of 114 million yuan, up 460.72 percent; Beijing Easpring Material Technology posted net profit of 520 million yuan, up 67.25 percent; 37 Interactive Entertainment posted net profit of 1.766 billion yuan, up 26.14 percent; Dongfang Tower posted net profit of 976 million yuan, up 97.84 percent; Jingxing Paper posted net profit of 139 million yuan, up 152.95 percent; Huaqin Technology posted net profit of 3 billion yuan, up 58.8 percent; Lianyun Technology posted net profit of 520 million yuan, up 825.54 percent; Guosen Securities posted net profit of 5.732 billion yuan, up 6.79 percent; CSSC Offshore & Marine Engineering posted net profit of 837 million yuan, up 58.94 percent; Luwei Optoelectronics posted net profit of 145 million yuan, up 35.82 percent; Lu'an Environmental Energy posted net profit of 1.778 billion yuan, up 31.85 percent; JPT Opto-electronics posted net profit of 195 million yuan, up 105.25 percent; Tongkun Group posted net profit of 4.222 billion yuan, up 285.03 percent; China Merchants Securities posted net profit of 10.624 billion yuan, up 104.87 percent; Sichuan Changhong posted net profit of 1.646 billion yuan, up 228.62 percent; Qinghai Salt Lake Industry posted net profit of 6.169 billion yuan, up 137.88 percent; Dawn Polymer posted net profit of 237 million yuan, up 181.94 percent; Allwinner Technology posted net profit of 490 million yuan, up 204.17 percent; Hanshow Technology posted net profit of 336 million yuan, up 51.22 percent; Dinglong posted net profit of 529 million yuan, up 70.21 percent; SF Diamond posted net profit of 78.1797 million yuan, up 46.9 percent; Robotechnik posted net profit of 6.5568 million yuan, turning from loss to profit year on year; Qianjin Pharmaceutical posted net profit of 181 million yuan, up 41.59 percent; Zhucheng Technology posted net profit of 132 million yuan, up 49.35 percent; Hengfeng Paper posted net profit of 112 million yuan, up 17.95 percent; Kidswant posted net profit of 172 million yuan, up 19.9 percent; Huate Gas posted net profit of 92.8327 million yuan, up 19.16 percent; Zhejiang Longsheng posted net profit of 1.004 billion yuan, up 8.2 percent; Dameng Data posted net profit of 221 million yuan, up 7.99 percent; Innovent Biologics posted first-half total revenue of 8.618 billion yuan, up 44.8 percent. In addition, Annil plans to repurchase shares worth 40 million to 80 million yuan, and Beimo Gaoke plans to repurchase shares worth 120 million to 180 million yuan.
Yunda Holding's first-half net profit attributable to parent surges 88.82% year on year
Yunda Holding disclosed its 2026 semi-annual report. Net profit attributable to the parent in the first half was 998 million yuan, a sharp year-on-year increase of 88.82 percent. Non-GAAP net profit was 931 million yuan, surging 105.68 percent year on year. The company achieved operating revenue of 26.439 billion yuan, up 6.47 percent year on year, and net cash flow from operating activities of 1.627 billion yuan, up 60.72 percent year on year. The industry's average express delivery price per parcel rose 2.3 percent year on year to 7.68 yuan, while the company's express delivery revenue per parcel reached 2.13 yuan, an increase of 0.21 yuan year on year. In the first half, it completed 12.257 billion express parcels, with a stable national market share of 12.2 percent, and Yunda Express's core time-definite business volume grew nearly 190 percent year on year.
June single-ticket prices diverge for the two Tong and one Da; second-half anti-cutthroat competition in express delivery may continue moderately
The two Tong and one Da have released their June operating data. Business revenue continued to grow year on year, but single-ticket prices diverged. Yunda Holding's single-ticket price was 2.11 yuan, up both year on year and month on month. STO Express's single-ticket price rose 6.03 percent year on year to 2.11 yuan, but fell 0.03 yuan from May. YTO Express's single-ticket price was 2.06 yuan, slightly lower year on year but up 0.02 yuan from May. In terms of business volume, STO and YTO both posted year-on-year growth, while Yunda Holding was roughly flat. He Dan, a director in the Asia-Pacific corporate ratings team at Fitch Ratings, analyzed that the anti-cutthroat competition drive in the first half boosted express companies' profitability, but single-ticket prices will not keep rising. In the second half, the anti-cutthroat competition push is very likely to continue, though the intensity may be relatively moderate, which will help the industry maintain a rational pricing environment and support profit recovery.
002120.CS · Pricing · Positive Yunda's single-ticket price rose year-on-year and month-on-month, and industry anti-cutthroat competition supports pricing.
002468.CS · Pricing · Positive STO's single-ticket price rose year-on-year, and industry anti-cutthroat competition supports pricing environment.
600233.CG · Pricing · Positive YTO's single-ticket price slightly up month-on-month, and industry anti-cutthroat competition supports pricing environment.
Yunda Holding's June Express Revenue Reaches 4.578 Billion Yuan, Up 10.34% Year-on-Year
Yunda Holding released its express delivery business indicators for June 2026. Express service revenue reached 4.578 billion yuan, up 10.34% year-on-year. Business volume for the month was 2.172 billion parcels, down 0.05% year-on-year. Average revenue per parcel was 2.11 yuan, up 10.47% year-on-year.
002120.CS · Demand · Positive Revenue up 10.34% YoY, driven by higher average revenue per parcel (+10.47%), indicating stronger pricing power or demand for services.
Yunda Holding Expects First-Half Net Profit to Rise 71.15% to 98.57% Year-on-Year
Yunda Holding disclosed its earnings forecast, estimating that net profit attributable to shareholders of the listed company for the first half of 2026 will be between 905 million yuan and 1.05 billion yuan, representing a year-on-year increase of 71.15% to 98.57%. The company stated that revenue per parcel for express delivery services saw reasonable growth in the first half, while express delivery business profitability in the same period last year was at a relatively low level, resulting in a certain low-base effect for the current reporting period's operating data compared to the previous year.
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