ZTO EXPRESS(ZTO) - 2024 Q3 - Quarterly Report

Financial Performance - Total revenues for Q3 2024 were RMB10,675.0 million (US$1,521.2 million), an increase of 17.6$340.2 million) compared to RMB2,340.7 million in the same period last year[3] - Gross profit rose 23.2% to RMB3,334.8 million (US$475.2 million), with a gross margin improvement to 31.2$339.0 million), reflecting a year-over-year increase of 1.3% from RMB2,349.6 million[18] - Basic and diluted earnings per ADS attributable to ordinary shareholders were RMB2.98 (US$0.42) and RMB2.90 (US$0.41), compared to RMB2.91 and RMB2.84 in the same period last year, representing increases of 2.4% and 2.1% respectively[19] - EBITDA increased to RMB3,731.3 million (US$531.7 million), compared to RMB3,449.5 million in the same period last year, marking an increase of approximately 8.2$340.2 million), up from RMB2,340.7 million during the same period last year[20] - Adjusted EBITDA was RMB3,729.5 million (US$532.8 million), compared to RMB3,438.6 million in the same period last year, reflecting an increase of approximately 8.5$443.5 million), up from RMB2,938.1 million in Q3 2023[3] - Net cash provided by operating activities was RMB3,112.0 million (US$443.5 million), an increase from RMB2,938.1 million in the same period last year[22] - Cash and cash equivalents decreased to RMB11,703,151 as of September 30, 2024, from RMB12,333,884 as of December 31, 2023, a decline of 5.1%[37] - The total cash, cash equivalents, and restricted cash as of September 30, 2024, amounted to RMB11,747,744, compared to RMB10,108,507 in the previous year, indicating a strong liquidity position[39] - The company’s net cash provided by financing activities significantly decreased from RMB2,529,988 in the three months ended September 30, 2023, to RMB10,183 in 2024, a decline of 99.6%[38] Assets and Liabilities - Total current assets increased to RMB30,156,630 as of September 30, 2024, compared to RMB26,953,548 as of December 31, 2023, reflecting a growth of 8.1%[37] - Total assets reached RMB93,320,033 as of September 30, 2024, up from RMB88,465,221 as of December 31, 2023, indicating a growth of 5.5%[37] - Total liabilities increased to RMB32,197,962 as of September 30, 2024, compared to RMB28,184,813 as of December 31, 2023, representing a rise of 14.3%[37] - The company’s total equity increased to RMB61,122,071 as of September 30, 2024, from RMB60,280,408 as of December 31, 2023, indicating a growth of 1.4%[37] Tax and Other Income - The company received an income tax refund of RMB207.1 million for being a "Key Software Enterprise" for the tax year 2022[18] Year-over-Year Comparisons - Revenues for the three months ended September 30, 2023, were RMB9,075,918, representing a year-over-year increase of 17.6% compared to RMB10,675,048 for the same period in 2024[36] - Gross profit for the nine months ended September 30, 2023, was RMB8,534,277, up 16.7% from RMB9,957,373 in 2024[36] - Net income attributable to ZTO Express (Cayman) Inc. for the three months ended September 30, 2023, was RMB2,345,158, a slight increase from RMB2,396,297 in 2024[36] - Net cash used in investing activities decreased significantly from RMB4,025,760 in the three months ended September 30, 2023, to RMB1,910,131 in 2024, indicating a reduction of 52.6%[38] - Net income for the three months ended September 30, 2023, was RMB2,349,610, slightly increasing to RMB2,379,042 in 2024, representing a growth of 1.3%[40] - Adjusted net income attributable to ordinary shareholders for the three months ended September 30, 2023, was RMB2,336,292, rising to RMB2,404,506 in 2024, an increase of 2.9%[41] - EBITDA for the three months ended September 30, 2023, was RMB3,449,483, increasing to RMB3,731,315 in 2024, which is a growth of 8.2%[40] - The company reported a diluted net earnings per share of RMB2.84 for the three months ended September 30, 2024, compared to RMB2.90 in the previous year, reflecting a decrease of 2.1%[43] - Net earnings per share (diluted) for the nine months ended September 30, 2023, was RMB7.94, compared to RMB7.80 in 2024, showing a slight increase[36] - Weighted average shares used in calculating net earnings per share for the three months ended September 30, 2024, were 838,131,679, compared to 838,290,093 in the previous year, showing a slight decrease[41]