Q424 ZTO Express Results & FY25 Guidance: Revenue Growth & Margin Better, But OpCF Shrinking; AVOID
ZTO's revenue momentum and core margin improved in Q424, but at the cost of deteriorating Cash Flow. We view the strong recent growth of "key...
568 Views
Quick Take on J&T Global Express Q324: Volume Growth in All Segments Slowed Dramatically
Last week J&T Global Express reported a sharp slowdown in average daily parcel volume in all of its operating segments. We think the numbers...
634 Views
Hive Box Holdings Pre-IPO, Part 3: Hive Box Vs InPost Group: Similarities & (BIG) Differences
In this insight we compare Hive Box to InPost, a publicly-traded smart locker and e-comm fulfillment specialist based in Poland. It's not a perfect...
701 Views
Hive Box Holdings Pre-IPO, Part 1: What They Do, History, Relationships, & What's Next
Chinese smart locker operator Hive Box has filed to go public in Hong Kong. In this insight we offer an overview of its business, a corporate...
850 Views
J&T Global Express H124 Results: A Dramatic Turnaround? But Something Doesn't Make Sense
The Chinese domestic express segment reportedly drove a strong Y/Y improvement in adjusted EBITDA at J&T Global Express. But some of the drivers of...
552 Views