3月快递行业需求 依旧火爆，而低价格高成本或导致各公司一季度盈利承压。3 月快递行业整体表现亮眼，需求端依旧火爆，收入端与业务量增速持续维持在高位。据国家邮政局统计显示，2021 年3 月全国快递服务企业业务量完成88.18 亿件，同比增长47.36%，业务收入达854.4亿元，同比增长27.69%。一季度快递行业收入实现高增长，2021 年全年仍会保持较高增速。但受到整体价格战影响，各公司单票收入已经趋近于单票成本，规模效应对成本进行的摊薄已不明显，同时考虑到春节期间人力运力成本均远高于其他月份，我们预计各公司一季度在利润端将承压。

年度策略以“快递物流高景气，客运寒冬过后缓慢回升”为纲，兼顾周期性和成长性。1.内需稳健+外贸超旺，国际国内融合交互促进，快递、物流和供应链行业加速发展； 2.关注供需格局良好的油运行业反弹机会；3.航空业国内国际逐次复苏，关注航空跨年度投资机会。年度组合为：顺丰控股、中远海控、南方航空、东方航空、中国国航、传化智联、永安行、德邦股份、厦门象屿、中远海能、招商轮船、大秦铁路、京沪高铁。

浙江省快递促进条例（草案）指明行业政策方向，低价竞争将受监管。1）事件：近日浙江省政府第70 次常务会议审议通过了《浙江省快递
业促进条例（草案）》，其中市场关注到草案中规定快递经营者不得以低于成本的价格提供快递服务等。2）行业背景：a）业务量持续高景气Vs“价格战”不停息的矛盾。业务量持续高景气：近4 年均维持在25%以上的业务量规模增长，2020 年业务量增速超过30%。

4 月中旬，沿海主要枢纽港口货物吞吐量同比增长7.0%，其中外贸货物吞吐量同比增长5.8%。八大枢纽港集装箱吞吐量同比增长17.8%，其中
外贸箱吞吐量同比增长22.3%，内贸箱同比增长5.9%。全球经济持续复苏提振海外消费需求，我国外贸箱吞吐量增速加快。

The report discusses different types of industrial refrigeration systems and components used for various applications. Industrial refrigeration systems are used for massive freezing and refrigeration plants that are usually involved in food & beverage processing, cold storage, and others. They are also used in the manufacturing industry. The industrial refrigeration market is segmented into offering, component, refrigerant type, application, type and region. On the basis of offering, the market is divided into industrial refrigerator and component. By component, it is segregated into compressor, condenser, evaporator, control, others. Depending on refrigerant type, it is classified into ammonia, carbon dioxide, hydroflurocarbon and others.

Logistics is defined as the process to control, execute, and plan the movement of material, capital, and service. These services consist of activities such as material handling, packaging, transportation, inventory, security, and warehousing, which can be scaled according to customer needs and market conditions. Logistics service providers are responsible for the delivery of materials or goods from manufacturers to consumers. The logistics industry market comprises Third-Party Logistics (3PL), Fourth-Party Logistics (4PL), inbound logistics, outbound logistics, reverse logistics, green logistics, military logistics, and others logistics services. This process provides efficient and effective transportation & storage of goods and services. At present, logistics services are widely being used in various applications, including warehousing, procurement, supply chain, material handling, inbound & outbound transportation, packaging, and inventory.

The report provides market dynamics and trends related to the global pharmaceutical packaging market. In addition, it presents estimations and forecast of the market. The study estimates revenue generated from the sales of pharmaceutical packaging products, which are used for packaging processes of pharmaceutical preparations. Products such as parenteral containers, plastic bottles, blister packaging, closures, specialty bags, labels, and others have been considered in the market estimation. However, it excludes pharmaceutical packaging service revenue. Furthermore, the report excludes revenue generated from post-sale services of pharmaceutical packaging products.

4 月上旬，沿海主要枢纽港口货物吞吐量同比增长 8.1%，其中外贸货物 吞吐量同比增长 2.5%。八大枢纽港集装箱吞吐量同比增长 14.2%，其中 外贸箱吞吐量同比增长 15.6%，内贸箱同比增长 10.5%，随着全球经济 持续复苏，外部消费需求以及我国进口持续回升，带动外贸箱吞吐量增 速加快。