Shulou(Shulou.com)11/24 Report--

CTOnews.com November 22 news, Zhongtong Express released the third quarter of 2022 results, revenue of 8.9449 billion yuan, a year-on-year growth of 21.0%. Gross profit was RMB2.4444 billion, up 55.9% year-on-year. Net profit was RMB1.8955 billion, up 65.1% year-on-year. Adjusted net profit was RMB1, 872.6 million, up 63.1% year-on-year. Net cash flow from operating activities amounted to RMB2.8233 billion, compared with RMB1.7871 billion for the same period last year.

CTOnews.com understands that in the third quarter of 2022, the number of packages delivered by Zhongtong Express was 6.368 billion, up 11.7% from 5.7 billion in the same period in 2021. As of September 30, 2022, the number of collection/distribution outlets was more than 31,000. As of September 30, 2022, the number of direct network partners was more than 5,850. As at 30 September 2022, the number of owned trunk line vehicles was approximately 11,000. As of September 30, 2022, the number of sorting centers was 97, of which 86 were operated by the Company and 11 by its network partners.

Lai Meisong, founder, chairman and CEO of Zhongtong, said,"Despite the weak macro economy and repeated disruptions caused by the COVID-19 pandemic, Zhongtong achieved another excellent performance this quarter and continued to achieve excellent growth in business volume and profit. We achieved 6.4 billion packages, expanded our market share by 1.3 points to 22.1%, increased our adjusted net profit by 63.1% to 1.9 billion yuan, and reached a new high in public satisfaction scores. Although market price competition stabilized, we continued to improve operational efficiency and profitability internally through refined management and digital intelligence operations, bringing growth to both revenue and profit ends. Our increased visibility into cost control, pricing policies and operational efficiency allows us to identify problems at source and build systematic solutions. At the same time, these solutions are gradually extended to our network partners and outlets, improving the operational capabilities and profitability of network partners to better meet external challenges and seize future opportunities. "

Lai Meisong added,"In the first half of the fourth quarter, the industry transaction volume during the e-commerce promotion period was stable and then fluctuated. Although there are uncertainties in the short term, we are confident that the situation will improve and we are confident that the long-term outlook will be clear. The market pattern of China's express delivery industry is gradually differentiated, and the main participants are obviously different. The head players will expand faster and profits will grow, while the tail players may stagnate or exit the market. We will continue to be ourselves, opportunity always favors those who are prepared. "

Yan Huiping, chief financial officer of Zhongtong, said,"The single ticket price of our core express delivery business increased by 9.9% or 12 points year on year. Despite lower than expected volume growth for the industry as a whole, our unit operating costs remained stable and, combined with cost effectiveness in overhead, our operating margin increased by 5.9 percentage points in the quarter. Operating cash flow increased by 58.0% to $2.8 billion. Capital expenditure was $2.1 billion, mainly for land use rights, sorting center construction and automation. "

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