Reporting 30% rise in net profit for 2020, ZTO expects to increase market share by 1.5% this year

On March 16, ZTO Express shares dropped by 1.35%, closing at HK$204.4.

In the fourth quarter of last year, ZTO Express reported revenue of 9.87 billion yuan, delivering a year-on-year increase of 7.1%, and adjusted net profit increased by 21.5% year-on-year to 2.12 billion yuan.

File photo/NBD

In 2022, it achieved revenue of 35.38 billion yuan, representing a year-on-year increase of 16.3%, and adjusted net profit increased by 37.6% year-on-year to 6.81 billion yuan. The gross profit margin rose from 21.7% in 2021 to 25.6%.

As of December 31st, 2022, ZTO had more than 31,000 distribution outlets and 98 sorting centers.

Based on current market conditions and operations, ZTO Express expects its package volume this year to be between 28.78 billion and 29.75 billion pieces. Meanwhile, the company said that it is confident in increasing its market share by at least 1.5% in 2023.

In 2022, ZTO Express achieved an increase of 2.1 billion pieces in business volume, pushing the total package volume to about 24.4 billion pieces, up 9.4% year on year.