ZTO Express 3Q19: Slowing Growth and a Struggle to 'convert'
Rising volume share and an increase in non-core and non-operating income helped ZTO Express (ZTO US) beat consensus earnings estimates for 3Q19....
486 Views
Best Inc. 3Q19: Express Segment a Drag, Revenue Guidance Cut, Retain Hold
BEST Inc (BEST US)'s 3Q19 results were largely in line with consensus estimates and our own views. The company’s express segment (60% of revenue)...
567 Views
2Q19 Chinese Express: Little to Show for Big Volume Share Gains
Six listed firms control most of inter-city express market As China’s express industry consolidates, ‘weak hands’ have largely exited, and...
522 Views
ZTO Express: 1Q19 GAAP EPS Missed on Margins, Retain Sell Rating & US$13.31 Price Target
Despite beating revenue expectations by over 5% and recording a +100 mn RMB YoY increase in net non-operating income, ZTO missed consensus 1Q19...
631 Views
Quick Update on ZTO Express: Results OK, but Guidance Unimpressive
After reviewing 4Q18 results and guidance for 2019, we retain our negative view of ZTO. For 2019 and 2020, we continue to expect slower top-line...
720 Views