ZTO: Positive On 1Q24 Performance And 2024 Outlook As e-Commerce Is Coming Back
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May 13, 2024
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ZTO will report 1Q24 results on May 15th after the market closes followed by an 8:30pm ET conference call. We are positive about its 1Q24 performance. ZTO continues to maintain its high market share in terms of parcel delivery. With its high profit margin, ZTO has the strongest competitive advantage among its peers. ZTO’s business is correlated with China’s e-commerce industry; we believe that China’s economy has reached a bottom, and that e-commerce is rebounding sooner than the general economy. As such, ZTO is going to benefit from the increasing logistics demand.
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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