Chemical supply chain is a long, volatile, and highly complex business and requires high adaptability, flexibility, and skills. Chemical companies are skilled at designing and manufacturing products safely. However, chemical logistics company offers wide range of expert services to safely navigate transporting and storage of these potentially dangerous products. In addition, chemical logistics companies offer transportation services by sea for bulk commodities around the globe and air freight services for raw materials that are required urgently. Further, security plays a major role, when it comes to warehousing for the chemical sector and thus, tailor made IT solutions are used for appropriate security.

年报前关注可以穿越疫情的景气度抬升的投资机会（1）推荐品牌出海物流话语权回归中国背景下的跨境物流行业，继续推荐华贸物流，关注中国外运。（2）内贸集装箱化红利仍在，两次出清后竞争格局优化，推荐中谷物流。（3）2021 年中通快递利润拐点有望出现，推荐左侧布局机会。

1 月下旬，沿海主要枢纽港口货物吞吐量同比增长12.2%，其中外贸货物吞吐量同比增长7.2%。八大枢纽港集装箱吞吐量同比增长20.5%，其中外贸箱吞吐量同比增长19.8%，内贸箱同比增长23.4%，工厂春节前加快出货带动港口吞吐量高增。

2021年2月1日， 发审委审核通过了德邦股份的定增申请，德邦股份拟向战略投资者韵达股份发行66,739,130股，募集资金61,400 万元。发行完成后，韵达股份将持有德邦股份6.5%股份，成为其第二大股东。

从交运各板块相对沪深300 的表现来看，机场和航空板块自底部回升明显，快递板块在价格战背景下迎来估值修复。

国内私人出行奔向万亿规模，有望维持高速增长；顺风车需求旺盛，嘀嗒稳居行业第一；网约车引领出租车市场变革，嘀嗒位居市场次席，以顺风车为基石搭建的出行平台。