ZTO Express announced its unaudited financial results for the third quarter ended September 30, 2024. The company reported a parcel volume of 8.72 billion, marking a 15.9% increase year-over-year. Total revenues reached RMB10,675.0 million, an increase of 17.6% from the same period in 2023.
Adjusted net income for the quarter grew by 2.0% year-over-year to RMB2,387.3 million. The core express average selling price (ASP) increased by 1.8%, while combined unit sorting and transportation costs decreased by 8.4%, or 6 cents, due to productivity gains.
The company revised its full-year 2024 parcel volume guidance to a range of 33.7 billion to 33.9 billion, representing an 11.6% to 12.3% increase year-over-year. This revision reflects management's current view of market and operating conditions, including the increasing proportion of low-value e-commerce packages.
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