ZTO Express Q325 Results | Revenue, ASPs Both Up Y/Y | But Earnings, Margins Both Down | AVOID
ZTO reported another weak set of results on Wednesday, as margins collapsed in Q3 despite modest pricing improvement. Oh, and management cut volume...
167 Views
Monthly Chinese Express Tracker | March, Q125 Growth Solid | But Shares Lag Alibaba (April 2025)
In March and Q125, express volume growth remained firm, and unit price declines should be manageable for most express companies. But as an...
355 Views
May 1st Marks End of US "De Minimis" Exemption that Has Enabled Growth of SHEIN, Temu, & AliExpress
US "de minimis" import rules that have enabled the growth of platforms like SHEIN and Temu will change dramatically this week. We believe the...
16.4k Views
ZTO FY24 & J&T Global Q424 Volume Growth Rates Suggest Painful Price-Volume Tradeoffs Continue
Early Q424 reports from J&T Global and ZTO Express suggest that the former company is still using price to take volume share. Meanwhile, ZTO's sub...
523 Views
SF Holdings A/H Trading - Strong Demand but Is Probably Close to Fair Value
S.F. Holding (002352 CH), China’s largest express delivery company, raised around US$860m in its H-share listing in Hong Kong. In this note, we...
427 Views