[cs_content][cs_element_section _id=”1″ ][cs_element_layout_row _id=”2″ ][cs_element_layout_column _id=”3″ ][cs_element_text _id=”4″ ][cs_content_seo]ZTO Express, a leading and fast-growing express delivery company in China announced today its unaudited financial results for the third quarter ended September 30, 2021. The company delivered a parcel volume growth of 23.3% while maintaining high customer satisfaction and an industry-top level of quality of earnings. Adjusted net income reached RMB1,147.9 million which grew 13.7% over that of last year’s normalized for one-time tax refund. Cash generated from operating activities totaled RMB1,787.1 million.
Third Quarter 2021 Financial Highlights
Revenues were RMB7,390.7 million (US$1,147.0 million), an increase of 11.3% from RMB6,638.8 million in the same period of 2020.
Gross profit was RMB1,568.3 million (US$243.4 million), an increase of 12.7% from RMB1,391.0 million in the same period of 2020.
Net income was RMB1,147.9 million (US$178.1 million), a decrease of 5.2% from RMB1,210.3 million in the same period of 2020. Normalized for the one-time 2019 income tax refund received in 2020, net income increased 13.7% year over year.
Adjusted EBITDA was RMB1,967.7 million (US$305.4 million), an increase of 17.4% from RMB1,675.4 million in the same period of 2020.
Adjusted net income was RMB1,147.9 million (US$178.1 million), a decrease of 5.2% from RMB1,210.3 million in the same period of 2020.Normalized for the one-time 2019 income tax refund received in 2020, adjusted net income increased 13.7% year over year.
Basic and diluted net earnings per American depositary share (“ADS”) were RMB1.43 (US$0.22), a decrease of 6.5% from RMB1.53 in the same period of 2020.
Adjusted basic and diluted net earnings per American depositary share attributable to ordinary shareholders were RMB1.43 (US$ 0.22), a decrease of 6.5% from RMB1.53 in the same period of 2020.
Net cash provided by operating activities was RMB1,787.1 million (US$277.4 million), compared with RMB1,480.4 million in the same period of 2020.
Operational Highlights for Third Quarter 2021
Parcel volume was 5,700 million, an increase of 23.3% from 4,623 million in the same period of 2020.
Number of pickup/delivery outlets was over 30,300 as of September 30, 2021.
Number of direct network partners was over 5,600 as of September 30, 2021.
Number of line-haul vehicles was approximately 10,500 as of September 30, 2021, which included approximately 10,400 self-owned vehicles and approximately 100 vehicles owned and operated by Tonglu Tongze Logistics Ltd., a transportation operator that works exclusively for ZTO.
Out of the approximately 10,400 self-owned trucks, approximately 8,450 were high capacity 15 to 17-meter-long models as of September 30, 2021, compared to over 8,150 as of June 30, 2021.
Number of line-haul routes between sorting hubs was over 3,600 as of September 30, 2021, compared to approximately 3,600 as of June 30, 2021.
Number of sorting hubs was 96 as of September 30, 2021, among which 85 are operated by the Company and 11 by the Company’s network partners.
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