- JPM released a research report on China's logistics and express delivery sector, emphasizing a shift toward quality and anti-involution trends alongside sector data updates.
- J&T EXPRESS-W and Full Truck Alliance were named as top picks, while ZTO EXPRESS-W was downgraded to Neutral due to a lower volume outlook.
- The 15th Five-Year Plan targets RMB 2 trillion in revenue and 270 billion parcels by 2030, with policy focusing on curbing destructive competition.
