Financial Performance - For Q2 2024, the company reported a revenue of RMB 10,726.0 million (USD 1,475.9 million), representing a 10.1% increase from RMB 9,740.3 million in Q2 2023[4] - Adjusted net profit grew by 10.9% to RMB 2,805.7 million (USD 386.1 million), compared to RMB 2,531.0 million in the same period last year[4] - Gross profit for Q2 2024 was RMB 3,620.5 million (USD 498.2 million), an increase of 9.6% from RMB 3,304.4 million in Q2 2023[4] - Basic and diluted earnings per American Depositary Share (ADS) were RMB 3.24 (USD 0.45) and RMB 3.16 (USD 0.43), reflecting increases of 3.2% and 2.9% respectively from the previous year[4] - Adjusted EBITDA for the quarter was RMB 4,339.7 million (USD 597.2 million), up 11.7% from RMB 3,883.9 million in Q2 2023[4] - Operating profit was RMB 3,215.2 million (USD 442.4 million), an increase of 11.7% from RMB 2,878.8 million year-on-year, with an operating profit margin rising from 29.6% to 30.0%[10] - Net profit was RMB 2,614.0 million (USD 359.7 million), a 3.3% increase from RMB 2,530.2 million in the same period last year[11] Operational Metrics - The company achieved a package volume growth of 10.1% year-over-year while maintaining high service quality and customer satisfaction[3] - The total package volume reached 8.452 billion, an increase of 10.1% compared to 7.677 billion in the same period of 2023[5] - Core express service revenue increased by 10.4%, driven by a 10.1% growth in package volume and stable unit pricing[7] - Operating costs totaled RMB 7,105.5 million (USD 977.7 million), reflecting a 10.4% increase from RMB 6,435.9 million in the previous year[8] - The average revenue per package remained stable at RMB 1.24, with a slight decrease in sorting and transportation costs by 2 cents due to improved fleet efficiency[6] Cash Flow and Dividends - Operating cash flow for the quarter was RMB 3,480.1 million (USD 478.9 million), down from RMB 3,761.6 million in Q2 2023[4] - The company declared an interim dividend of USD 0.35 per share[3] - The company reported a net cash flow from operating activities of RMB 3,480.1 million (USD 478.9 million), down from RMB 3,761.6 million year-on-year[11] Risks and Governance - The company continues to face risks related to the competitive landscape and reliance on third-party e-commerce platforms[2] - The board of directors includes various executive and independent directors, ensuring diverse oversight and governance[2] - The company warns that forward-looking statements involve inherent risks and uncertainties that could lead to significant differences from actual results[18] - The company is subject to risks related to the development of the e-commerce and express delivery industry in China, including competition and reliance on third-party platforms[18] Future Outlook - The company aims for a business volume growth guidance of 15% to 18% for 2024[6] - For 2024, the company expects package volume to be between 34.73 billion and 35.64 billion, representing a year-on-year growth of 15% to 18%[13] - The management team will provide insights into performance and future outlook during the earnings call[16] Non-GAAP Metrics - The company utilizes non-GAAP financial metrics such as EBITDA, adjusted EBITDA, and adjusted net income to assess operational performance and inform financial decisions[15] - The company emphasizes the importance of non-GAAP metrics in identifying fundamental business trends and enhancing understanding of past performance and future prospects[15] - The financial metrics discussed may not be directly comparable to similar metrics used by other companies due to different calculation methods[15] - The company encourages investors to review its financial data comprehensively rather than relying on a single financial metric[15] Assets and Liabilities - As of December 31, 2023, total assets amounted to RMB 88,465,221, a decrease from RMB 91,103,798 as of June 30, 2024[20] - Total liabilities stood at RMB 28,184,813, down from RMB 30,129,924, representing a reduction of approximately 6%[20] - The total equity of the company was RMB 60,280,408, a decrease from RMB 60,973,874, indicating a decline of about 1.1%[20] - The company’s inventory was reported at RMB 7,454,633, down from RMB 9,898,796, reflecting a decrease of approximately 25%[20] - The company’s long-term investments decreased to RMB 12,170,881 from RMB 14,034,434, a decline of about 13%[20]
中通快递(02057) - 2024 Q2 - 季度业绩