Financial Performance - Adjusted net profit reached RMB 2.0527 billion (USD 286.5 million), a decrease of 26.8% from RMB 2.8057 billion in the same period of 2024[9] - Revenue for the second quarter was RMB 11.8318 billion (USD 1.6517 billion), up 10.3% from RMB 10.726 billion in the same period of 2024[9] - Gross profit was RMB 2.9444 billion (USD 411.0 million), a decrease of 18.7% from RMB 3.6205 billion in the same period of 2024[9] - Adjusted EBITDA was RMB 3.5349 billion (USD 493.5 million), a decrease of 18.5% from RMB 4.3397 billion in the same period of 2024[9] - Basic and diluted earnings per American Depositary Share (ADS) were RMB 2.42 (USD 0.34) and RMB 2.37 (USD 0.33), down 25.3% and 25.0% respectively from RMB 3.24 and RMB 3.16 in the same period of 2024[9] - Net profit decreased by 24.8% to RMB 1,964.6 million (USD 274.2 million) compared to RMB 2,614.0 million in the same period last year[23] - The adjusted net profit for the six months ended June 30, 2025, was RMB 4,312,027, compared to RMB 5,029,768 for the same period in 2024, indicating a decrease of approximately 14.3%[43] - The net profit for the three months ended June 30, 2025, was RMB 1,964,559, down from RMB 2,613,997 in the same period of 2024, representing a decline of about 25%[43] Operational Metrics - Package volume increased by 16.5% to 9.847 billion pieces compared to 8.452 billion pieces in the same period of 2024[12] - The core express service revenue grew by 11.0% year-on-year, while freight forwarding service revenue decreased by 22.7%[14] - Operating costs increased by 25.1% year-on-year to RMB 8.89 billion (USD 1.24 billion), with significant contributions from line haul transportation and sorting center operational costs[15][16] - Operating profit fell by 23.0% to RMB 2.48 billion (USD 345.5 million), with an operating margin of 20.9% compared to 30.0% in the previous year[20] - The company adjusted its full-year business volume guidance to a range of 38.8 billion to 40.1 billion packages, corresponding to a year-on-year growth rate of 14.0% to 18.0%[13] Cash Flow and Investments - Operating cash flow net amount was RMB 2.1682 billion (USD 302.7 million), down from RMB 3.4801 billion in the same period of 2024[9] - Capital expenditures for the period amounted to RMB 1.1 billion, while operating cash flow was RMB 2.2 billion[13] - The net cash generated from operating activities for the six months ended June 30, 2025, was RMB 4,531,184, compared to RMB 5,511,115 for the same period in 2024, reflecting a decrease of approximately 17.7%[42] - The net cash used in investing activities for the six months ended June 30, 2025, was RMB 4,321,982, a decrease from RMB 7,044,941 in the same period of 2024[42] Dividends and Shareholder Returns - The company announced an interim dividend of USD 0.30 per share[7] - The company announced an interim cash dividend of USD 0.30 per American depositary share, with a payout ratio of 40%[29] Assets and Liabilities - As of June 30, 2025, total assets amounted to RMB 94,620,760, a slight increase from RMB 92,340,330 as of December 31, 2024[41] - Total liabilities as of June 30, 2025, were RMB 29,764,954, showing a marginal increase from RMB 29,665,497 as of December 31, 2024[41] - The company reported a total equity of RMB 64,855,806 as of June 30, 2025, up from RMB 62,674,833 as of December 31, 2024[41] Impairments and Other Adjustments - Goodwill impairment related to the acquisition of China Eastern Express Co., Ltd. amounted to RMB 84.4 million (USD 11.8 million)[22] - The company recognized an impairment loss on equity investments of RMB 672,816,000 for the six months ended June 30, 2024, with no such loss reported for the same period in 2025[44] - The company reported a goodwill impairment of RMB 84,431,000 for the three months ended June 30, 2025, which was not present in the previous year[44]
中通快递(02057) - 2025 Q2 - 季度业绩