Logistics provider ZTO Express (Cayman) Inc. (ZTO.US; 2057.HK) on Wednesday said its revenue last year ranged between 48.5 billion yuan ($699 million) and 50 billion yuan, up 9.5% to 12.9% from 2024. The growth was primarily driven by higher shipment volume, which rose 13.3% to 38.52 billion parcels last year from 34.01 billion in 2024.
Despite that growth, the company’s gross profit for the year fell to between 12.15 billion yuan and 12.55 billion yuan, down 8.5% to 11.4% year-over-year.
ZTO also disclosed plans to issue $1.5 billion in convertible preferred notes maturing in 2031, with the proceeds to be used for refinancing and share buybacks.
Shares of ZTO Express opened up 0.6% at HK$180.1 on Thursday. The stock is up 48% from its 52-week low.
By Lau Chi Hang
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