ZTO tackles tough environment
The Chinese CEP services provider ZTO Express, founded in 2022 and listed on the Shanghai stock exchange, has reported its unaudited financial results for Q3/2022.
Parcel volumes grew by 11.7% compared to the same period in 2021, with 6.4 billion parcels handled. The company expanded its market share by 1.3 points to 22.1%, “despite a weak economy and adverse impacts from the ongoing Covid-19 problems,” as it said in a media release.
Revenues came to more than RMB 8.9 billion (USD 1.3 billion), an increase of 21% from RMB 7.4 billion in the same period of 2021. Net income stood at RMB 1.9 billion (USD 266 million), an increase of 65% compared to the same period of 2021. The number of pickup/delivery outlets stood at more than 31,000, and the number of line-haul vehicles the company owns was approximately 11,000. (sh)