ZTO Express-W (02057) rose 4.5 percent in early tradingcryptoearninggamesforpc.39%, currently quoted at HK$195.10, with a turnover of HK$82.001 million.
Recently, Citi issued a report stating that ZTO Express's net profit in the first quarter of non-GAAP increased by 16% year-on-year, which was 6% and 11% higher than the bank and market expectations respectively. Package delivery volume increased by 14% year-on-year, lower than the industry. The growth rate is mainly to maintain the networkcryptoearninggamesforpcQuality of delivery. The average selling price was better than the bank's forecast, and the annual delivery volume growth guidance remained at 15% to 18%. The company insisted on maintaining profitability and providing diversified services to maintain long-term growth. The bank slightly adjusted ZTO Express's profit forecast for this year and next by 1%, raised its target price from US$27 to US$27.4, and expected the market's forecast for the company to increase, maintain its "Buy" rating, and regard it as the first choice for the mainland logistics industry.
