The “SF” are facing unprecedented challenges, and the challenge comes from the slow variable of industrial structure adjustment, or it can be overturned.
With the exhaustion of the consumer Internet dividend, business growth in all related industries has begun to touch the border. In order to find new growth engines, SF, Cainiao, JD.com, and Three Links One have all proposed the concept of integrated logistics. Began to make a left and right advance in other logistics-related tracks such as supply chain and express delivery, but when the express delivery giants entered the field of logistics hinterland LTL, they all encountered a sense of incompetence.
In recent years, SF has successively launched the large-ticket less-than-truckload and heavy-load transshipment (vehicle) business. JD Logistics has launched special carpool (heavy goods above 500KG) and preferential vehicle business under the official website express business section. Cainiao invested in Big ticket LTL platform entrepreneurship card line the world.
Although SF, Cainiao, and JD Logistics have laid out the entire line of business from express delivery to the entire vehicle, they are restrained by resources, industry accumulation, and local warfare. The giants are also unable to launch full-scale battles. “The competition between express delivery and express delivery” At present, it is relatively fierce, and cross-border competition in the field of large-ticket and less-than-truckload vehicles has not yet started. ”Peng Cheng, a citron investment partner, told Tiger Sniff Pro.
Zhang Haitao, Managing Director of IDG Capital, believes that “the reason is that the organizational capacity required for LTL and express delivery and express delivery are very different. The three tracks need three separate networks, and they are difficult to be compatible with each other. If we want to break into the big ticket LTL field, we must set up a new network from the beginning, and we need to invest a lot of resources, but currently the giants are attacking each other in the express and express field, and there is no spare time to disrupt the big ticket LTL field. “
In fact, the industry is already undergoing drastic changes before the giants set their sights on LTL. In the past, more than 100,000 small and medium-sized special line companies (mainly logistics companies that operated one or more lines) were worrying about the current business situation. “The special line companies have become more difficult after 2015” are all respondents to Tiger Sniff Pro Consistent feedback, the entire industry living on the breakeven line urgently needs a new production method and organization method to correct it.
But the above crisis is seen by some insiders and investors as a once-in-a-lifetime venture capital opportunity. What they see is that a large and fragmented industry has the opportunity to be integrated. After all, the express delivery industry and 7 years ago This was the situation in the express industry years ago, but today the CR8 (industry concentration of the top 8 companies in the market) of the express industry has reached 80%, and the CR10 of the express industry has reached 40%, and has achieved SF, A group of courier and express giants with a market value of 10 billion to 100 billion, including three links and one service, Debang, Best, and Aneng.
The express delivery and express delivery industry has successfully demonstrated in the front as a benchmark. The wind of entrepreneurship in the field of big ticket odds started in 2017. The capital market that has not really enjoyed the dividends of express delivery and express delivery industry (the rapid growth of express delivery and express delivery industry) China ’s capital market has not yet formed a climate, and the investment is already in the middle and late stages of the investment after 2010.) It is also eagerly awaiting, and is determined to make a bet in the early days of big-ticket LTL start-ups. Some very promising seed players have already In the past two years, we have received billion-level initial investment.
And more than one related person revealed to Tiger Sniff Pro that a single financing event exceeding RMB 1 billion in the LTL area will have a high probability in the next 1-2 years.
Unlike the express and express industries, which are competing in the industry during the period of growth, the small-ticket entrepreneurs have to face a crisis-stricken stock market to do resource-integrated entrepreneurship. The game relationship they have to face It will be more complicated. Moreover, although there are giants who may be difficult to overcome for a while, but may be in danger at any time, the window period for them will not be too long.
“2-3 years” is the integration window period when most of the interviewees feedback to Tiger Sniff Pro.
This is not only everyone’s optimistic about the entrepreneurial track that is integrated in the trillion market, but also a helplessness, because maybe the giants will free up after 2-3 years, and the competition situation will be more difficult. Entrepreneurs must quickly move forward—whether they are heading for an IPO or waiting to be acquired—they need to grow to a large enough scale before the giant makes its hand, so big that the giant can’t get around anyway degree.
To understand what is happening in the entire logistics industry? Where does the wind of the large-ticket less-than-trucks track as a new windport arise, and where will it go? What is the key to the final victory? In this issue of Deep Case, Tiger Sniff Pro has interviewed the more representative large ticket LTL startups such as Jumeng, Dekun, and Sanzhi Logistics, as well as IDG Capital, Yuzu Investment, Yunlian Think Tank and other in-depth logistics industries to conduct research and investment research. Research institutions try to answer the above questions one by one.