ZTO EXPRESS(ZTO) Prnewswire·2024-11-19 22:00Core Viewpoint - ZTO Express reported robust financial performance in Q3 2024, with adjusted net income growing by 2.0% to RMB2.4 billion and parcel volume increasing by 15.9% to 8.7 billion, despite challenging macroeconomic conditions [1][2][5]. Financial Highlights - Total revenues reached RMB10,675.0 million (US475.2 million), up 23.2% from RMB2,706.4 million in the same period last year [11]. - Net income increased by 1.3% to RMB2,379.0 million (US532.9 million) from RMB3,438.6 million in the previous year [2][21]. - Basic and diluted net earnings per American depositary share (ADS) were RMB2.98 (US0.41), reflecting increases of 2.4% and 2.1% respectively from the same period last year [18]. Operational Highlights - Parcel volume reached 8,723 million, a 15.9% increase from 7,523 million in Q3 2023 [3]. - The number of pickup/delivery outlets exceeded 31,000, and direct network partners surpassed 6,000 as of September 30, 2024 [3]. - The fleet included over 10,000 self-owned line-haul vehicles, with more than 9,700 being high-capacity models [3]. Cost and Efficiency - Total cost of revenues was RMB7,340.2 million (US484.2 million), while unit transportation costs decreased by 9.7% [8]. - Sorting hub operating costs rose by 8.6% to RMB2,224.2 million (US$316.9 million), with a decrease in cost per unit by 6.4% [9]. Strategic Outlook - The company anticipates parcel volume for 2024 to be between 33.7 billion and 33.9 billion, representing an 11.6% to 12.3% year-over-year increase [22]. - ZTO aims to maintain high service quality and customer satisfaction while regaining market share and expanding its leadership in parcel volume [5][6].