ZTO: Cautious On 1H2020 Due To Negative Impacts From Outbreak Of Coronavirus
The outlook for ZTO’s 1Q20 is not optimistic. The coronavirus outbreak is causing significant pressure on the express delivery market. Many branches have delayed their openings or not resumed its full capacity due to the lack of workers as controlled public transportation and ongoing self-confinement prevent workers from returning to work. A survey published on Feb. 5, 2020 showed that only 50% of the express delivery workforce has returned to work.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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