ZTO: Positive On ZTO’s 2Q23 Performance And 2H2023 Outlook Driven By Economic Stimulus
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August 15, 2023
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ZTO will report 2Q23 results on August 29th after the markets close followed by an 8:30pm ET conference call. The long-awaited economic stimulus policies have started to come out since late July 2023. Recently, China’s central government issued a series of intensive economic stimulus programs to boost confidence and restore economic growth. The programs not only include stimulating capital market, housing market, but also consumer and retail, and many more. Among these programs, AI and data economy are at the center. While these programs have not shown meaningful results yet, we believe they are going to gradually take effect along with more programs. In our view, ZTO, among all the big logistics vendors in China, has the best operational efficiency. With its past investment, its capabilities of providing diversified and better priced services are unmatched by its peers.
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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