ZTO Reports First Quarter 2025 Unaudited Financial Results

Core Insights - ZTO Express reported a 19.1% year-over-year increase in parcel volume, reaching 8.5 billion parcels in Q1 2025, while adjusted net income grew by 1.6% to RMB2.3 billion [1][6][7] - The company reiterated its annual volume guidance, expecting a growth of 20% to 24% for 2025 [1][26] Financial Highlights - Total revenues for Q1 2025 were RMB10,891.5 million (US$1,500.9 million), a 9.4$370.6 million), resulting in a gross margin of 24.7% compared to 30.1% in the same period last year [14][19] - Net income increased by 40.9% to RMB2,039.2 million (US$281.0 million) from RMB1,447.7 million in Q1 2024 [19][20] Operational Highlights - Retail volume surged by 46$1,130.3 million) [10] - Line-haul transportation costs rose by 3.3% to RMB3,483.1 million (US$480.0 million), while sorting hub operating costs increased by 6.8$319.0 million) [11][12] Share Repurchase Program - The company has extended its share repurchase program to June 30, 2026, with a total of US$2.0 billion authorized for repurchase [24][25] Business Outlook - ZTO Express maintains its parcel volume guidance for 2025 at 40.8 billion to 42.2 billion, reflecting a year-over-year growth of 20% to 24% [26]