ZTO Express reaffirms FY24 parcel volume view up 15%-18%

Based on current market and operating conditions, the Company maintains its previously stated annual guidance. Parcel volume for 2024 is expected to be in the range of 34.73B-35.64B, representing a 15% to 18% increase year over year. Such estimates represent management’s current and preliminary view, which are subject to change. Huiping Yan, CFO, commented, “Volume is not unimportant because it enables scale-leverage. We are getting better at weighing risks and opportunities in order to achieve appropriate level of profit and maximize value creation. We are reiterating our 2024 volume growth guidance of 15% to 18%. Strengthening long-term competitive advantage, breaking away from homogenized product offering that is conducive for unproductive price competition and building healthier and stronger partner-network and entrepreneurial courier excellence will prepare us for the vast opportunities ahead the logistic industry.”