Overall operational situation



In January 2024, China's warehousing index was 51.2%, a decrease of 0.4 percentage points from the previous month, but still maintained an expansion range, indicating that the warehousing industry as a whole maintained a good operating trend and achieved a stable start However, in the first half of 2024, the operation of China's warehousing industry is facing downward pressure, with an average index of 49%, a decrease of 1.9 percentage points from the same period last year. In the first quarter, there was a significant fluctuation due to the influence of the Spring Festival, while in the second quarter, the overall trend showed a decline followed by stability



Market size and growth



-Traditional warehousing: The total social logistics cost in 2023 is 18.2 trillion yuan, of which the storage cost is 6.1 trillion yuan, accounting for 33%, a year-on-year increase of 1.7%

-Intelligent warehousing: In recent years, the market demand has continued to expand and the market size has continued to grow. The compound annual growth rate from 2019 to 2023 is 14.8%, and the market size in 2023 is about 153.35 billion yuan. Analysts predict that it will reach 176.05 billion yuan in 2024



Business and inventory situation



-Business volume: The business volume index in January was 52.6%, although it fell 0.3 percentage points from the previous month, it still maintained a good level in the expansion range. However, due to factors such as weather and holidays, the trends of different categories were differentiated. The demand for bulk commodity business declined due to the off-season, while the consumer goods warehousing business increased due to pre holiday stocking and holiday consumption

-Inventory: The inventory index at the end of January was 52.1%, an increase of 2.1 percentage points from the previous month. The year-end inventory of enterprises has significantly increased, while the average inventory turnover index was 51.7%, a decrease of 1.6 percentage points from the previous month. The efficiency of commodity turnover remains at a high level



Industry Development Trends



-Intelligent upgrade: Various industries are actively promoting the intelligent transformation of warehousing and logistics, such as the automotive manufacturing industry, where Xinsong Robotics is developing new energy heavy-duty truck production lines for car companies; At the same time, the application of AI technology in warehousing and logistics is constantly deepening, which can accurately predict product demand, automatically adjust inventory levels, and so on

-The rise of green logistics: Green logistics has become one of the trends, such as using electric trucks instead of fuel vehicles and optimizing packaging, which is both low-carbon and environmentally friendly, and can reduce costs, in line with the general trend of social development

-Strengthening supply chain integration: Supply chain logistics is highly valued, which can connect upstream and downstream goods information and funds, achieve fast delivery, keep track of inventory and sales situation at any time, achieve cost reduction and efficiency improvement, and improve customer satisfaction

-Development of cloud warehouse services: Some e-commerce companies choose to entrust their shipping business to cloud warehouses, leveraging professional warehousing operation teams to improve shipping efficiency and reduce costs