T. H. Data Flash – ZTO Express – November & Preliminary 4Q17: Expect Possible Headwinds in 2018 Even Though 4Q17 May Be Better Than Consensus
Parcel industry may experience headwinds in 2018 - The industry has started to experience some level of growth deceleration in 4Q17. One reason is that Beijing, a major city for express vendors, has had a series of fires at warehouses and migrant workers’ residences, which led to the deportation of the migrant working population in 4Q17 by the local governments.
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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