Physix Frontier · News Briefing Card (enbrief · Nov 6, 2026)

Platforms Seize Last-Mile Pricing Power, Overseas Warehouses Cut to Per-Piece Fees

KEY FACTS

EDA Group's revenue grew 14.3% in the first half of 2026, while net profit swung from a gain of 19.3 million yuan to a loss of 42.16 million yuan.
EDA's semi-managed order volume rose 19.6% year over year, but related revenue grew only 6.1%, with revenue per order falling about 11.3%.
Temu raised its semi-managed warehousing fee from $0.45 to $0.52 per cubic foot starting April 2026.
Loctek's overseas warehouse revenue reached 2.453 billion yuan in the first three quarters, with a gross margin of 11.04%, handling nearly 14 million parcels.
Overseas warehouse rent and labor costs rose 12% and 15% respectively in 2025, and the trend continued into 2026.

KEY DATA

14.3%EDA revenue growth

Loss of 42.16 million yuanEDA net profit

19.6%Semi-managed order volume growth

$0.52/cubic foot/monthTemu warehousing fee

PHYSIX OBSERVATION

Platforms have taken the last-mile spread, demoting overseas warehouses from profit-sharing partners to per-piece execution vendors, while fixed costs keep rising year after year. EDA's loss is a signal: for small and mid-sized warehouses without last-mile contracts or self-built facilities, the more orders they handle, the deeper the losses. Industry divergence is no longer about scale, but about whether a warehouse can break free from reliance on a single platform's orders.

Source: enbrief original report ↗