![]() ![]() Other revenues were derived mainly from financing services. Revenue from sales of accessories, largely consisted of sales of thermal paper used for digital waybills’ printing, increased by 30.8% in line with parcel volume growth. Revenue from freight forwarding services decreased by 41.8% compared to the same period of 2022 primarily due to declined cross border e-commerce demand and pricing caused by weak global economy. Express delivery services revenue amounted to RMB8,388.7m in Q1 2023, accounting for 93.4% of group revenue. Revenue from the core express delivery business increased by 16.1% compared to the same period of 2022, as a combined result of a 20.5% increase in parcel volume and a 3.7% decrease in parcel unit price. Operationally, parcel volume was up 20.5%, from 6,297m parcels in Q1 2023, compared to 5,226m in Q1 of 2022.Įxpress delivery services are the main revenue source for the company, but it is also active in freight forwarding and ‘sales of accessories’ and other activities. Adjusted EBITDA was RMB3,133.0m (US$456.2m), an increase of 56.5% from RMB2,002.1m in the same quarter of 2022. Wherever there is an Internet connection, ZTO will be there to assist people in creating a wonderful existence.ZTO Express, a leading express delivery company in China announced its first quarter 2023 results. ![]() ZTO is an important e-commerce facilitator. Between sorting hubs, ZTO has around 4,410 line-haul vehicles and 1,920 line-haul routes. ZTO's distribution network covers more than 97.69 percent of China's cities and counties, as well as 81.5 percent of its towns, with over 28,900 pickup/delivery locations and 79 sorting centers. ZTO is guided by its corporate mission of "Bringing Happiness to More People Through Our Services" and its core values of "Shared Success, Trust, and Accountability, Innovation and Entrepreneurship." The company has received numerous awards for its services, including "Top Ten Influential Brands of Chinese Express Delivery Industry" and "Top Ten Excellent Brands to Customers' Satisfaction in Chinese Express Delivery Industry." ZTO had over 300,000 employees and 9,400 network partners as of Sember 30, 2017. ZTO offers express delivery services that are quick, safe, and cost-effective. ZTO's goal is to become the world's leading provider of comprehensive logistics services. ZTO achieves great operating leverage through operational efficiency and economies of scale, resulting in higher returns on both capital and equity. It operates the mission-critical line-haul transportation and sorting network inside the express delivery service value chain through a network partner model, while its network partners operate the first-mile pickup and last-mile delivery outlets. ZTO uses a highly scalable network partner model that allows it to swiftly grow its nationwide network and offer e-commerce merchants a wider geographic reach at a cheap cost. ZTO has established itself as the trusted express delivery partner for millions of commercial customers, including online merchants and consumers selling and buying products on China's leading e-commerce sites, such as Alibaba, PDD, and JD.com, and has established itself as a key enabler and direct beneficiary of China's fast-growing e-commerce market. ![]() ZTO Express which was founded on May 8, 2002, is one of China's largest express delivery providers in terms of parcel volume, with a market share of 20.4 percent in 2020. ![]()
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