ZTO Express' first quarter net profit increased by 90.2% and its market share expanded to 23.4%

In fiscal year 2022, ZTO Express has achieved remarkable achievements. According to the latest financial report data, ZTO Express’s revenue in 2022 reached 353.77 billion yuan, a year-on-year increase of 16.3%; net profit was 66.59 billion yuan, a year-on-year increase of 41.6%. At the same time, ZTO Express continued its good performance in 2023. According to ITBEAR Technology Information, ZTO Express released its financial report for the first quarter of 2023 today. In the first quarter, revenue reached 8.9832 billion yuan and net profit was 1.6648 billion yuan.

According to reports, ZTO Express released its unaudited financial results for the first quarter on March 31, 2023. Data show that ZTO Express’ revenue in the first quarter of 2023 reached 8.9832 billion yuan, a year-on-year increase of 13.7%; net profit was 1.6648 billion yuan, a year-on-year increase of 90.2%. Adjusted net profit increased by 82.1% to 1.9198 billion yuan. ZTO Express's market share expanded to 23.4%, and the number of parcels increased by 20.5% year-on-year.

In addition, ZTO Express has also achieved outstanding results in other financial data. Compared with the same period last year, gross profit in the first quarter increased by 55.8%, reaching RMB 2.5234 billion. Adjusted EBITDA was 3.133 billion yuan, a year-on-year increase of 56.5%. Net cash provided by operating activities was 2.738 billion yuan, a significant increase. ZTO Express's parcel volume reached 6.297 billion pieces in the first quarter of 2023, an increase of 20.5% year-on-year. As of March 31, ZTO Express had more than 31,000 pickup/delivery outlets, more than 5,900 direct network partners, approximately 11,000 self-owned line transportation vehicles, and 97 sorting centers.

ZTO Express also has corresponding predictions for future development. Annual parcel volume is expected to grow by 20% to 24%, reaching 29.27 billion to 30.24 billion pieces, and is confident of achieving a sales volume market share increase of at least 1.5 percentage points throughout the year.

In general, ZTO Express’s financial performance and operating results in the first quarter of 2023 showed strong momentum. This data shows that ZTO Express continues to grow and enhance its competitiveness in the Chinese express delivery market. ZTO Express will make further efforts to cope with the increasing number of packages and expanding market share, thereby achieving more significant performance.

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