China's courier giants Yunda Express, STO Express and YTO Express reported sharp drops in Feb 2020 earnings, according to their announcements on Key Operating Data Feb 2020 released respectively on March 19.

Yunda Express saw its monthly revenue from express delivery services business drop to RMB 897 million, which resulted in a year-on-year decrease of 26.48%. The company carried 297 million parcels in Feb, a 13.41% decrease compared to the same period last year. Its monthly revenue per shipment was RMB 3.02, with a year-on-year decrease of 15.17%.

STO Express reported an express service revenue of RMB 469 million in Feb 2020 with a year-on-year decrease of 47.66%. the company carried 158 million parcels in Feb, a 37.26% decrease compared to the same period last year. Its revenue per shipment was RMB 2.97, with a year-on-year decrease of 16.57% in Feb 2020.

The courier business revenue of YTO Express went down 35.69% year-on-year to RMB 645 million in Feb 2020, with its business volume down 21.90% to 233 million parcels. The company's revenue per shipment in Feb was RMB 2.77, a 17.66% decrease compared to the same period last year.