Core Viewpoint - The article discusses the recent regulatory scrutiny faced by Zhongtong Express, highlighting issues related to service quality, employee rights, and compliance, which have led to significant repercussions including the termination of partnerships with major platforms like Douyin e-commerce [1][4]. Regulatory Scrutiny - On October 28, the State Post Bureau of China conducted an administrative interview with Zhongtong Express, citing non-compliance in operational practices and inadequate service quality [1][4]. - Zhongtong Express responded by committing to a comprehensive review and rectification of the identified issues to enhance service quality and compliance [4]. Partnership Termination - Douyin e-commerce announced the termination of its partnership with Zhongtong Cold Chain, a subsidiary of Zhongtong Express, effective October 29, due to violations such as assisting merchants in bypassing the platform's electronic waybill system [4][7]. - The decision reflects accumulated compliance and service deficiencies, with user complaints frequently highlighting issues like stagnant logistics information and poor delivery service [7]. Employee Rights and Structure - As of the end of 2024, Zhongtong Express has approximately 24,500 formal employees, with a significant portion engaged in sorting and operational support roles [8]. - The company provides an average annual salary of about 140,000 yuan and statutory benefits, but the actual operational workforce is much larger, relying on a network of over 160,000 business staff [8]. Safety Performance - Zhongtong Express reported a rising injury rate, with a work-related injury rate of 1.44 per million hours worked in 2024, marking an increase for two consecutive years [9]. - The company recorded six employee fatalities in 2024, with a cumulative total of 21 fatalities over three years [9]. ESG Rating and Carbon Emissions - Zhongtong Express was removed from the Science Based Targets initiative (SBTi) for failing to submit valid carbon reduction targets within the required timeframe [10]. - The company reported operational carbon emissions of 1.9081 million tons of CO2 equivalent in 2024, a year-on-year increase of 6.54%, ranking third among listed express companies [11][12]. Financial Performance - In the first half of the year, Zhongtong Express achieved revenue of 22.72 billion yuan, a year-on-year increase of 9.8%, but adjusted net profit fell by 14.3% [13]. - The company handled 9.85 billion parcels in the second quarter, maintaining a market share of 19.5% [13].
中通快递的多事之秋：国家邮政局约谈、抖音电商清退旗下冷链；客诉量持续高企