24.4 Billion Annual Parcels Expanded Market
Share by 1.5pts to 22.1%
RMB6.8 Billion
Adjusted Net Income Grew 37.6%
US$0.37 per
Share Dividend Announced for 2022
SHANGHAI, March 15,
2023 /PRNewswire/ -- ZTO Express (Cayman) Inc.
(NYSE: ZTO and SEHK: 2057), a leading and fast-growing express
delivery company in China ("ZTO"
or the "Company"), today announced its unaudited financial results
for the fourth quarter and fiscal year ended December 31, 2022[1]. For 2022,
despite COVID-19 disruptions and softening economy, the Company
grew parcel volume by 2.1 billion, or 9.4% year over year and
expanded market share by 1.5 percentage points to 22.1% while
maintaining high quality of service and customer satisfaction.
Adjusted net income [2] increased 37.6% to reach
RMB6,806.0 million. Cash generated
from operating activities was RMB11,479.3
million.
Fourth Quarter 2022 Financial Highlights
- Revenues were RMB9,871.3 million
(US$1,431.2 million), an increase of
7.1% from RMB9,217.5 million in the
same period of 2021.
- Gross profit was RMB2,772.6
million (US$402.0 million), an
increase of 23.2% from RMB2,250.9
million in the same period of 2021.
- Net income was RMB2,129.3 million
(US$308.7 million), an increase of
21.8% from RMB1,747.7 million in the
same period of 2021.
- Adjusted EBITDA[3] was RMB3,397.5 million (US$492.6 million), an increase of 24.0% from
RMB2,739.2 million in the same period
of 2021.
- Adjusted net income[2] was RMB2,120.2 million (US$307.4 million), an increase of 21.5% from
RMB1,745.3 million in the same period
of 2021.
- Basic and diluted net earnings per American depositary share
("ADS" [4]) were RMB2.67
(US$0.39) and RMB2.61 (US$0.38),
an increase of 22.5% and 19.7% from RMB2.18 and RMB2.18
in the same period of 2021, respectively.
- Adjusted basic and diluted earnings per American depositary
share attributable to ordinary shareholders[5] were
RMB2.66 (US$0.39) and RMB2.60 (US$0.37),
an increase of 22.0% and 19.3% from RMB2.18 and RMB2.18
in the same period of 2021, respectively.
- Net cash provided by operating activities was RMB3,769.8 million (US$546.6 million), compared with RMB3,023.8 million in the same period of
2021.
Fiscal Year 2022 Financial Highlights
- Revenues were RMB35,377.0 million
(US$5,129.2 million), an increase of
16.3% from RMB30,405.8 million in the
same period of 2021.
- Gross profit was RMB9,039.3
million (US$1,310.6 million),
an increase of 37.2% from RMB6,589.4
million in the same period of 2021.
- Net income was RMB6,659.0 million
(US$965.5 million), an increase of
41.6% from RMB4,701.3 million in the
same period of 2021.
- Adjusted EBITDA[3] was RMB11,289.1 million (US$1,636.8 million), an increase of 36.0% from
RMB8,300.7 million in the same period
of 2021.
- Adjusted net income[2] was RMB6,806.0 million (US$986.8 million), an increase of 37.6% from
RMB4,947.0 million in the same period
of 2021.
- Basic and diluted net earnings per American depositary share
("ADS"[4]) were RMB8.41
(US$1.22) and RMB8.36 (US$1.21),
an increase of 45.0% and 44.1% from RMB5.80 and RMB5.80
in the same period of 2021.
- Adjusted basic and diluted net earnings per American depositary
share[5] attributable to ordinary shareholders were
RMB8.59 (US$1.25) and RMB8.54 (US$1.23),
an increase of 40.8% and 40.0% from RMB6.10 and RMB6.10
in the same period of 2021.
- Net cash provided by operating activities was RMB11,479.3 million (US$1,664.3 million), compared with RMB7,220.2 million in the same period of
2021.
Operational Highlights for Fourth Quarter 2022
- Parcel volume was 6,593 million, an increase of 3.9% from 6,343
million in the same period of 2021.
- Number of pickup/delivery outlets was over 31,000 as of
December 31, 2022.
- Number of direct network partners was approximately 5,900 as of
December 31, 2022.
- Number of self-owned line-haul vehicles was over11,000 as of
December 31, 2022.
- Out of the over 11,000 self-owned trucks, approximately 9,700
were high capacity 15 to 17-meter-long models as of December 31, 2022, compared to over 9,300 as of
September 30, 2022.
- Number of line-haul routes between sorting hubs was over 3,750
as of December 31, 2022, compared to
approximately 3,750 as of September 30,
2022.
- Number of sorting hubs was 98 as of December 31, 2022, among which 87 are operated by
the Company and 11 by the Company's network partners.
(1) An investor
relations presentation accompanies this earnings release and can be
found at http://zto.investorroom.com.
|
(2) Adjusted net
income is a non-GAAP financial measure, which is defined as net
income before share-based compensation expense and non-recurring
items such as gain on disposal of equity investment and subsidiary
in and corresponding tax impact which management aims to better
represent the underlying business operations.
|
(3) Adjusted
EBITDA is a non-GAAP financial measure, which is defined as net
income before depreciation, amortization, interest expenses and
income tax expenses, and further adjusted to exclude the
shared-based compensation expense and non-recurring items such as
the gain on disposal of equity investment and subsidiary which
management aims to better represent the underlying business
operations.
|
(4) One ADS
represents one Class A ordinary share.
|
(5) Adjusted
basic and diluted earnings per American depositary share
attributable to ordinary shareholders is a non-GAAP financial
measure. It is defined as adjusted net income attributable to
ordinary shareholders divided by weighted average number of basic
and American depositary diluted shares, respectively.
|
Mr. Meisong Lai, Founder,
Chairman and Chief Executive Officer of ZTO, commented, "For 2022,
facing external challenges such as slowing industry growth and
COVID-related ups and downs, ZTO focused on keeping our network
stable and improving our operational capabilities and efficiency.
We achieved our targets for volume growth, market share gain and
profit increases while staying on top of quality of services and
customer satisfaction. Our market share increased 1.5 percentage
points to 22.1% for the year, and our adjusted net income was 6.8
billion which grew 37.6% over last year. There are lesser
uncertainties about how the industry landscape will continue to
evolve. Competitive focus has been gradually shifted towards
sensible pricing practice and bottom-line earnings. The healthier
and more capable leaders will advance further in quality of
service, volume, and profitability expansion. By our track
record, ZTO's strategy and execution have been consistently sound
and effective, and we are well positioned to embark on our next 20
years of growth and development."
Mr. Lai added, "Our goal is to become a world-class
comprehensive logistic service provider. To succeed, the core
foundation is our shared-success philosophy and day-to-day
practice. Consistent with supportive government policies and
its stable economic development initiatives such as
"three-proliferations" and carbon reduction, ZTO plays a role of
guardian protector as well as a strong contributor. We focus on
being the best we can, and by strengthening our industry leading
operational excellence and maximization of our vast resource
utilization, we can systematically grow our market presence and
increase stakeholder value by striking healthy balance between all
three aspects of our corporate strategy. More importantly, as we
grow, core express delivery and all other logistic product and
services, we are to take on greater responsibilities and create
positive impact on more people, greater society and larger
environment. This is the essence of what we meant by bringing
happiness to more people with our product and services."
Ms. Huiping Yan, Chief Financial
Officer of ZTO, commented, "Our core express delivery ASP grew 8.1%
or 10 cents year-on-year which helped
to absorb unit cost increases of 2.4% or 2
cents caused by fuel cost hike and volume weaknesses. We
have a larger fixed cost base which is beneficially designed for
sufficiently high volume. We observed strong scale leverage
during recent volume surge where our daily parcel reached over 85
to 90 million packages, and our goal of continued unit economic
improvements on the cost front is achievable. SG&A cost
as a percentage of revenues remained flat year over year at 5.4% as
we maintain a stable corporate cost structure."
Ms. Yan added, "Our adjusted net income grew 37.6%, much faster
than the 9.4% volume increase for 2022. Thanks to enabling
digitization tools that we developed and began to widely implement
starting in 2022 at all levels of our transit and sorting
operations, we gained more real-time visibilities into where
inefficiencies maybe, and solutions will quickly follow. On
the pricing front, we have modified the way we set and disseminate
growth targets so as to instill confidence as well as visibility
into achievability and profitability for our network partners. Our
ability to set goals, measure and deploy resources, align interests
with common objectives among all parties have greatly
enhanced. Given the assessment of current industry estimates,
we target to outpace industry volume growth and increase our market
share by at least 1.5 percentage points for 2023 while we maintain
high levels of quality of services and customer satisfaction, and
achieving targeted earnings growth for the year."
Fourth Quarter 2022 Unaudited Financial Results
|
Three Months Ended
December 31,
|
|
2021
|
|
2022
|
|
RMB
|
|
%
|
|
RMB
|
|
US$
|
|
%
|
|
(in thousands,
except percentages)
|
Express delivery
services
|
8,428,942
|
|
91.4
|
|
9.168,541
|
|
1,329,313
|
|
92.9
|
Freight forwarding
services
|
378,248
|
|
4.1
|
|
254,130
|
|
36,845
|
|
2.6
|
Sale of
accessories
|
352,414
|
|
3.8
|
|
404,683
|
|
58,674
|
|
4.1
|
Others
|
57,915
|
|
0.7
|
|
43,973
|
|
6,376
|
|
0.4
|
Total
revenues
|
9,217,519
|
|
100.0
|
|
9,871,327
|
|
1,431,208
|
|
100.0
|
Total Revenues were RMB9,871.3
million (US$1,431.2 million),
an increase of 7.1% from RMB9,217.5
million in the same period of 2021. Revenue from the core
express delivery business increased by 8.8% compared to the same
period of 2021, as a combined result of a 3.9% increase in parcel
volume and a 4.7% increase in parcel unit price. Revenue from
freight forwarding services decreased by 32.8% compared to the same
period of 2021 as cross border e-commerce demand and pricing
gradually returned to normal post COVID-19 recovery. Revenue from
sales of accessories, largely consisted of sales of thermal paper
used for digital waybills' printing, increased by 14.8%. Other
revenues were derived mainly from financing services.
|
Three Months Ended
December 31,
|
|
2021
|
|
2022
|
|
|
|
% of
|
|
|
|
|
|
% of
|
|
RMB
|
|
revenues
|
|
RMB
|
|
US$
|
|
revenues
|
|
(in thousands,
except percentages)
|
Line-haul
transportation cost
|
3,350,847
|
|
36.4
|
|
3,394,342
|
|
492,133
|
|
34.4
|
Sorting hub operating
cost
|
2,014,763
|
|
21.9
|
|
2,139,620
|
|
310,216
|
|
21.7
|
Freight forwarding
cost
|
322,785
|
|
3.5
|
|
238,464
|
|
34,574
|
|
2.4
|
Cost of accessories
sold
|
85,104
|
|
0.9
|
|
147,838
|
|
21,434
|
|
1.5
|
Other costs
|
1,193,096
|
|
12.9
|
|
1,178,501
|
|
170,867
|
|
11.9
|
Total cost of
revenues
|
6,966,595
|
|
75.6
|
|
7,098,765
|
|
1,029,224
|
|
71.9
|
Total cost of revenues was RMB7,098.8
million (US$1,029.2 million),
an increase of 1.9% from RMB6,966.6
million in the same period of last year.
Line haul transportation cost was
RMB3,394.3 million (US$492.1 million), an increase of 1.3% from
RMB3,350.8 million in the same period
last year. The unit transportation cost decreased 2.5% driven by
continued transportation cost efficiency gain derived mainly from
higher mix of high-capacity trailer trucks of our fleet and better
route planning despite fuel cost increase. There were approximately
700 more self-owned high-capacity vehicles in operation compared to
the same period last year.
Sorting hub operating cost was
RMB2,139.6 million (US$310.2 million), an increase of 6.2% from
RMB2,014.8 million in the same period
of last year. The increase was primarily consisted of (i)
RMB67.7 million (US$9.8 million) increase in depreciation and
amortization costs for automation equipment and facility, and (ii)
RMB28.5 million (US$4.1 million) increase in labor-associated
costs, a net result of wage increases partially offset by
automation-driven efficiency gain. As of December 31, 2022, 458 sets of automated sorting
equipment were in service, compared to 385 sets as of December 31, 2021.
Cost of accessories sold was RMB147.8 million (US$21.4
million), increased 73.7% compared with RMB85.1 million in the same period last year.
Other costs were RMB1,178.5 million (US$170.9 million), a decrease of 1.2% from
RMB1,193.1 million in the same period
of last year. The decrease was mainly consisted of RMB116.1 million (US$16.8
million) in dispatching costs serving enterprise customers,
offset by the increase of (i) RMB82.0
million (US$11.9 million) in
costs expanding last mile business and (ii) RMB44.0 million (US$6.4
million) in information technology and related cost.
Gross Profit was RMB2,772.6
million (US$402.0 million),
increased 23.2% from RMB2,250.9
million in the same period of last year driven by volume and
ASP increase as well as cost productivity gain. Gross margin rate
improved to 28.1% from 24.4% for the same period last year.
Total Operating Expenses were RMB312.7 million (US$45.3
million), compared to RMB196.9
million in the same period of last year.
Selling, general and administrative
expenses were RMB560.9 million
(US$81.3 million), increased by 18.8%
from RMB472.3 million in the same
period of last year, mainly driven by increases of employees'
compensation and benefits.
Other operating income, net was
RMB248.1 million (US$36.0 million), compared to RMB275.4 million in the same period of last year.
Other operating income mainly consisted of (i)
RMB100.3 million (US$14.5 million) VAT super deduction, (ii)
RMB59.9 million (US$8.7 million) ADR fee rebate, and (iii)
RMB38.9 million (US$5.6 million) government subsidies and tax
rebates.
Income from operations was RMB2,459.8 million (US$356.6 million), an increase of 19.8% from
RMB2,054.0 million for the same
period last year. Operating margin rate increased to 24.9% from
22.3% in the same period of last year.
Interest income was RMB111.8
million (US$16.2 million),
compared with RMB94.2 million in the
same period of last year.
Interest expenses was RMB76.1
million (US$11.0 million),
compared with RMB24.9 million in the
same period of last year.
Gain from fair value changes of financial instruments was
RMB83.5 million (US$12.1 million), compared with loss of
RMB0.3 million in the same period of last year. Such gain or
loss from fair value changes of the financial instruments are
determined by selling banks according to market-based estimation of
future redemption prices.
Gain on disposal of equity investees and subsidiary and
others was RMB9.1 million
(US$1.3 million), compared with
RMB2.4 million in 2021.
Income tax expenses were RMB500.5
million (US$72.6 million)
compared to RMB371.4 million in the
same period of last year. Overall income tax rate increased by
1.6 percentage points this quarter compared to the same period last
year due to an increased mix of taxable income generated by local
operating entities, taxes at the full 25% tax rate, while the
taxable income from one of the headquarter entities that enjoys a
15% preferential rate for its High and New Technology Enterprise
qualification.
Net income was RMB2,129.3
million (US$308.7 million),
which increased by 21.8% from RMB1,747.7
million in the same period of last year.
Basic and diluted earnings per ADS attributable to ordinary
shareholders were RMB2.67
(US$0.39) and RMB2.61 (US$0.38),
compared to basic and diluted earnings per ADS of RMB2.18 and RMB2.18
in the same period of last year.
Adjusted basic and diluted earnings per ADS attributable to
ordinary shareholders were RMB2.66 (US$0.39)
and RMB2.60 (US$0.37), compared with RMB2.18 and RMB2.18
in the same period of last year.
Adjusted net income was RMB2,120.2 million (US$307.4 million), compared with RMB1,745.3 million during the same period last
year.
EBITDA[1] was RMB3,406.5 million (US$493.9 million), compared with RMB2,741.6 million in the same period of last
year.
Adjusted EBITDA was RMB3,397.5
million (US$492.6 million),
compared to RMB2,739.2 million in the
same period of last year.
Net cash provided by operating activities was
RMB3,769.8 million (US$546.6million), compared with RMB3,023.8 million in the same period of last
year.
(1) EBITDA is a
non-GAAP financial measure, which is defined as net income before
depreciation, amortization, interest expenses and income tax
expenses which management aims to better represent the underlying
business operations.
|
Fiscal Year 2022 Financial Results
|
Year Ended December
31,
|
|
2021
|
|
2022
|
|
RMB
|
|
%
|
|
RMB
|
|
US$
|
|
%
|
|
(in thousands,
except percentages)
|
Express delivery
services
|
27,450,922
|
|
90.3
|
|
32,575,698
|
|
4,723,032
|
|
92.1
|
Freight forwarding
services
|
1,529,601
|
|
5.0
|
|
1,212,677
|
|
175,822
|
|
3.4
|
Sale of
accessories
|
1,231,283
|
|
4.0
|
|
1,384,674
|
|
200,759
|
|
3.9
|
Others
|
194,033
|
|
0.7
|
|
203,947
|
|
29,569
|
|
0.6
|
Total
revenues
|
30,405,839
|
|
100.0
|
|
35,376,996
|
|
5,129,182
|
|
100
|
Total Revenues were RMB35,377.0
million (US$5,129.2 million),
an increase of 16.3% from RMB30,405.8
million last year. Revenue from the core express
delivery business increased by 18.3%, as a combined result of a
9.4% increase in parcel volume and an 8.1% increase in parcel unit
price driven by stabilized industry pricing and improved product
mix. Revenue from freight forwarding services decreased by 20.7%
compared to last year as cross border e-commerce demand and pricing
gradually returned to normal post COVID-19 recovery. Revenue from
sales of accessories, largely consisted of sales of thermal paper
used for digital waybills, increased by 12.5%. Other revenues were
mainly consisted of financing services and advertising services
receipts.
|
Year Ended December
31,
|
|
2021
|
|
|
|
2022
|
|
|
|
|
|
% of
|
|
|
|
|
|
% of
|
|
RMB
|
|
revenues
|
|
RMB
|
|
US$
|
|
revenues
|
|
(in thousands,
except percentages)
|
Line-haul
transportation cost
|
11,487,810
|
|
37.8
|
|
12,480,170
|
|
1,809,454
|
|
35.3
|
Sorting hub operating
cost
|
6,774,595
|
|
22.3
|
|
7,845,491
|
|
1,137,489
|
|
22.2
|
Freight forwarding
cost
|
1,326,557
|
|
4.4
|
|
1,137,140
|
|
164,870
|
|
3.2
|
Cost of accessories
sold
|
349,647
|
|
1.1
|
|
463,448
|
|
67,194
|
|
1.3
|
Other costs
|
3,877,853
|
|
12.7
|
|
4,411,472
|
|
639,604
|
|
12.4
|
Total cost of
revenues
|
23,816,462
|
|
78.3
|
|
26,337,721
|
|
3,818,611
|
|
74.4
|
Total cost of revenues was RMB26,337.7
million (US$3,818.6 million)
compared to RMB23,816.5 million in
the same period of last year, an increase of 10.6% against
9.4% year over year volume increase.
Line haul transportation cost was
RMB12,480.2 million (US$1,809.5 million), an increase of 8.6% from
RMB11,487.8 million last year.
Line-haul transportation cost per parcel was RMB0.51, which decreased RMB1.0 cent compared to last year. This was
primarily due to improved operating efficiency through increased
usage of high-capacity vehicles and better route planning offset by
the increase of diesel price.
Sorting hub operating cost was
RMB7,845.5 million (US$1,137.5 million), an increase of 15.8% from
RMB6,774.6 million last year. The
increase was primarily consisted of (i) RMB537.9 million (US$78.0
million) increase in labor-associated costs, a result of
wage and headcount increase and (ii) RMB344.1 million (US$49.9
million) increase in depreciation and amortization costs
from increased number of installed automated sorting equipment and
facilities.
Cost of accessories sold was RMB463.4 million (US$67.2
million), increase 32.5% compared with RMB349.6 million last year.
Other costs were RMB4,411.5 million (US$639.6 million), an increase of 13.8% from
RMB3,877.9 million in 2021, primarily
due to (i) RMB260.8 million
(US$37.8 million) increase in costs
expanding last mile business, and (ii) RMB175.6 million (US$25.5
million) increase in information technology and related
cost.
Gross Profit was RMB9,039.3
million (US$1,310.6 million),
an increase of 37.2% from RMB6,589.4
million last year. Gross profit margin increased
to 25.6% from 21.7% in 2021.
Total Operating Expenses were RMB1,302.8 million (US$188.9 million), compared to RMB1,086.4 million last year.
Selling, general and administrative
expenses were RMB2,077.4 million
(US$301.2 million), an increase of
10.7% from RMB1,875.9 million
last year. The increase was primarily due to an increase of
RMB145.7 million (US$21.1 million) in compensation and benefit
expenses.
Other operating income, net was
RMB774.6 million (US$112.3 million), compared with RMB789.5 million last year. Other operating
income mainly consisted of (i) government subsidies and tax rebate
of RMB346.1 million (US$50.2 million), (ii) RMB273.4 million(US$39.6
million) of VAT super deduction , and (iii) RMB95.2 million (US$ 13.8
million) of rental income from self-owned
facilities.
Income from operations was RMB7,736.5 million (US$1,121.7 million), an increase of 40.6% from
RMB5,503.0 million last year.
Operating margin increased to 21.9% from 18.1% last year.
Interest income was RMB503.7
million (US$73.0 million),
compared with RMB363.9 million in
2021.
Interest expenses was RMB
190.5million (US$27.6
million), compared with RMB126.5
million in the same period of last year.
Gain from fair value changes of financial instruments was
RMB46.2 million (US$6.7 million), compared with RMB52.9 million in 2021, which reflected
fair value changes, assessed using market-based redemption prices
estimated by selling banks, on financial instruments.
Gain on disposal of equity investees and subsidiary and
others was RMB69.6 million
(US$10.1 million) and was mainly
composed of the share disposal of share interest in the Jinhua
Zhongrui Freight Forwarding Co., Ltd for a cash consideration of
RMB291.4 million (US$42.2 million).
Impairment of investment in equity investee was
RMB26.3 million (US$3.8 million), which mainly included a
provision for impairment charge of RMB21.8 million
(US$3.2 million) related to the
Company's investment in Globaltime. Inc., a commodity marketing and
guided shopping platform in China.
There was no similar impairment of investment in equity investee in
last year.
Foreign currency exchange Gain, before tax was
RMB147.3 million (US$21.4 million), mainly due to the appreciation
of the onshore U.S. dollar-denominated bank deposits against the
Chinese Renminbi.
Income tax expenses were RMB1,633.3million (US$236.8 million) compared to RMB1,005.5 million in 2021.
Net income increased 41.6% to RMB6,659.0 million (US$965.5 million) from RMB4,701.3 million in 2021. Net income margin was
18.8% in 2022 compared with 15.5% in 2021.
Basic and diluted earnings per ADS attributable to ordinary
shareholders were RMB8.41
(US$1.22) and RMB8.36 (US$1.21),
compared to basic and diluted earnings per ADS of RMB5.80 in 2021.
Adjusted basic and diluted earnings per ADS attributable to
ordinary shareholders were RMB8.59 (US$1.25)
and RMB8.54 (US$1.23), compared to adjusted basic and diluted
earnings per ADS of RMB6.10 in
2021.
Adjusted net income was RMB6,806.0
million (US$986.8 million),
compared with RMB4,947.0 million last
year.
EBITDA was RMB11,153.4
million (US$1,617.1 million),
compared with RMB8,055.0 million last
year.
Adjusted EBITDA was RMB11,289.1
million (US$1,636.8 million),
compared with RMB8,300.7 million last
year.
Net cash provided by operating activities was
RMB11,479.3million (US$1,664.3million), increased by 59.0% from
RMB7,220.2 million last year.
Net cash provided by financing activities was
RMB7,058.2 million (US$1,023.3million), compared with RMB2,904.0 million in the same period of 2021. In
August 2022, the Company issued
US$1 billion of convertible senior
notes ("the Notes"). The Notes will mature on September 1, 2027 and bear interest at a rate
1.5% per year. The Notes can be converted into ADSs at an initial
conversion rate of 31.6296 of ADSs per US$1,000 principal amount of the Notes
(equivalent to an initial conversion price of US$31.62 per ADS).
Business Outlook
Based on current market conditions and current operations, the
Company's parcel volume for 2023 is expected to be in the range of
28.78 billion to 29.75 billion, representing a 18% to 22% increase
year over year. Relative to the entire industry performance, the
Company is confident to achieve at least 1.5 percentage point
increase in its market share for the entire year. Such estimates
represent management's current and preliminary view, which are
subject to change.
Special Dividend
The board of directors has approved a special dividend of
US$0.37per ADS and share for 2022 to
shareholders of record as of the close of business on April 6, 2023. For holders of class A ordinary
shares, in order to qualify for the dividend, all valid documents
for the transfer of shares accompanied by the relevant share
certificates must be lodged for registration with the Company's
Hong Kong branch share registrar,
Computershare Hong Kong Investor Services Limited, at Shops
1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East,
Wanchai, Hong Kong no later than
4:30 p.m. on April 6, 2023 (Hong Kong Time). The payment
date is expected to be April 21, 2023 for holders of class A
ordinary shares and on April 28, 2023 for holders of ADSs.
Company Share Purchase
On November 14, 2018, the Company
announced a share repurchase program whereby ZTO was authorized to
repurchase its own Class A ordinary shares in the form of ADSs with
an aggregate value of up to US$500
million during an 18-month period thereafter. On
March 13, 2021, the board of
directors of the Company approved the extension of the active share
repurchase program to June 30, 2021.
On March 31, 2021, the board of
directors has approved changes to the share repurchase program,
increasing the aggregate value of shares that may be repurchased
from US$500 million to US$1 billion and extending the effective time by
two years through June 30, 2023. On
November 17, 2022, the board of
directors has approved further changes to the share repurchase
program, increasing the aggregate value of shares that may be
repurchased from US$1 billion to
US$1.5 billion and extending the
effective time by one year through June
30, 2024.The Company expects to fund the repurchases out of
its existing cash balance. As of December
31, 2022, the Company has purchased an aggregate of
36,560,249 ADSs at an average purchase price of US$25.20, including repurchase commissions.
Exchange Rate
This announcement contains translation of certain Renminbi
amounts into U.S. dollars at specified rates solely for the
convenience of readers. Unless otherwise noted, all translations
from Renminbi to U.S. dollars were made at the exchange rate of
RMB6.8972 to US$1.00, the noon buying rate on December 31, 2022 as set forth in the H.10
statistical release of the Board of Governors of the Federal
Reserve Systems.
Use of Non-GAAP Financial Measures
The Company uses EBITDA, adjusted EBITDA, adjusted net income,
adjusted net income attributable to ordinary shareholders and
adjusted basic and diluted earnings per American depositary share,
and adjusted basic and diluted earnings per American depositary
share attributable to ordinary shareholders, each a non-GAAP
financial measure, in evaluating ZTO's operating results and for
financial and operational decision-making purposes.
Reconciliations of the Company's non-GAAP financial measures to
its U.S. GAAP financial measures are shown in tables at the end of
this earnings release, which provide more details about the
non-GAAP financial measures.
The Company believes that EBITDA, adjusted EBITDA, adjusted net
income, adjusted net income attributable to ordinary shareholders
and adjusted basic and diluted earnings per American depositary
share help identify underlying trends in ZTO's business that could
otherwise be distorted by the effect of the expenses and gains that
the Company includes in income from operations and net income. The
Company believes that EBITDA, adjusted EBITDA, adjusted net income,
adjusted net income attributable to ordinary shareholders and
adjusted basic and diluted earnings per American depositary share
provide useful information about its operating results, enhance the
overall understanding of its past performance and future prospects
and allow for greater visibility with respect to key metrics used
by ZTO's management in its financial and operational
decision-making.
EBITDA, adjusted EBITDA, adjusted net income, adjusted net
income attributable to ordinary shareholders and adjusted basic and
diluted earnings per American depositary share should not be
considered in isolation or construed as an alternative to net
income or any other measure of performance or as an indicator of
the Company's operating performance. Investors are encouraged to
compare the historical non-GAAP financial measures to the most
directly comparable GAAP measures. EBITDA, adjusted EBITDA,
adjusted net income, adjusted net income attributable to ordinary
shareholders and adjusted basic and diluted earnings per American
depositary share presented here may not be comparable to similarly
titled measures presented by other companies. Other companies may
calculate similarly titled measures differently, limiting their
usefulness as comparative measures to ZTO's data. ZTO encourages
investors and others to review the Company's financial information
in its entirety and not rely on a single financial measure.
Conference Call Information
ZTO's management team will host an earnings conference call at
8:30 PM U.S. Eastern Time on
Wednesday, March 15, 2023
(8:30 AM Beijing Time on Thursday, March 16, 2023).
Dial-in details for the earnings conference call are as
follows:
United
States:
|
1-888-317-6003
|
Hong Kong:
|
852-5808-1995
|
Mainland
China:
|
4001-206-115
|
Singapore:
|
800-120-5863
|
International:
|
1-412-317-6061
|
Passcode:
|
0163393
|
Please dial in 15 minutes before the call is scheduled to begin
and provide the passcode to join the call.
A replay of the conference call may be accessed by phone at the
following numbers until March 22,
2023:
United
States:
|
1-877-344-7529
|
International:
|
1-412-317-0088
|
Passcode:
|
2747002
|
Additionally, a live and archived webcast of the conference call
will be available at http://zto.investorroom.com.
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK:2057) ("ZTO" or
the "Company") is a leading and fast-growing express delivery
company in China. ZTO provides
express delivery service as well as other value-added logistics
services through its extensive and reliable nationwide network
coverage in China.
ZTO operates a highly scalable network partner model, which the
Company believes is best suited to support the significant growth
of e-commerce in China. The
Company leverages its network partners to provide pickup and
last-mile delivery services, while controlling the mission-critical
line-haul transportation and sorting network within the express
delivery service value chain.
For more information, please visit
http://zto.investorroom.com.
Safe Harbor Statement
This news release contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include but are not
limited to the Company's unaudited results for the fourth quarter
of 2022, ZTO management quotes and the Company's financial
outlook.
These forward-looking statements are not historical facts but
instead represent only the Company's belief regarding expected
results and events, many of which, by their nature, are inherently
uncertain and outside of its control. The Company's actual results
and other circumstances may differ, possibly materially, from the
anticipated results and events indicated in these forward-looking
statements. Announced results for the fourth quarter 2022 are
preliminary, unaudited and subject to audit adjustment. In
addition, the Company may not meet its financial outlook included
in this news release and may be unable to grow its business in the
manner planned. The Company may also modify its strategy for
growth. In addition, there are other risks and uncertainties that
could cause the Company's actual results to differ from what it
currently anticipates, including those relating to the development
of the e-commerce industry in China, its significant reliance on the Alibaba
ecosystem, risks associated with its network partners and their
employees and personnel, intense competition which could adversely
affect the Company's results of operations and market share, any
service disruption of the Company's sorting hubs or the outlets
operated by its network partners or its technology system. For
additional information on these and other important factors that
could adversely affect the Company's business, financial condition,
results of operations, and prospects, please see its filings with
the U.S. Securities and Exchange Commission.
All information provided in this press release and in the
attachments is as of the date of the press release. The Company
undertakes no obligation to update any forward-looking statement,
whether as a result of new information, future events or otherwise,
after the date of this release, except as required by law. Such
information speaks only as of the date of this release.
UNAUDITED
CONSOLIDATED FINANCIAL DATA
|
Summary of Unaudited
Consolidated Comprehensive Income Data:
|
|
|
Three Months Ended
December 31,
|
|
Year Ended December
31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(in thousands,
except for share and per share data)
|
|
Revenues
|
9,217,519
|
|
9,871,327
|
|
1,431,208
|
|
30,405,839
|
|
35,376,996
|
|
5,129,182
|
Cost of
revenues
|
(6,966,595)
|
|
(7,098,765)
|
|
(1,029,224)
|
|
(23,816,462)
|
|
(26,337,721)
|
|
(3,818,611)
|
Gross profit
|
2,250,924
|
|
2,772,562
|
|
401,984
|
|
6,589,377
|
|
9,039,275
|
|
1,310,571
|
Operating
(expenses)/income:
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
(472,284)
|
|
(560,859)
|
|
(81,317)
|
|
(1,875,869)
|
|
(2,077,372)
|
|
(301,191)
|
Other operating income,
net
|
275,363
|
|
248,132
|
|
35,976
|
|
789,503
|
|
774,578
|
|
112,303
|
Total operating
expenses
|
(196,921)
|
|
(312,727)
|
|
(45,341)
|
|
(1,086,366)
|
|
(1,302,794)
|
|
(188,888)
|
Income from
operations
|
2,054,003
|
|
2,459,835
|
|
356,643
|
|
5,503,011
|
|
7,736,481
|
|
1,121,683
|
Other income
(expenses):
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
94,208
|
|
111,768
|
|
16,205
|
|
363,890
|
|
503,722
|
|
73,033
|
Interest
expense
|
(24,852)
|
|
(76,147)
|
|
(11,040)
|
|
(126,503)
|
|
(190,521)
|
|
(27,623)
|
(Loss)/gain from fair
value changes of financial
instruments
|
(337)
|
|
83,504
|
|
12,107
|
|
52,909
|
|
46,246
|
|
6,705
|
Gain on disposal of
equity investees and subsidiary and
others
|
2,357
|
|
9,083
|
|
1,317
|
|
2,357
|
|
69,598
|
|
10,091
|
Impairment of
investment in equity investee
|
-
|
|
-
|
|
-
|
|
-
|
|
(26,328)
|
|
(3,817)
|
Foreign currency
exchange (loss) / gain before tax
|
(22,310)
|
|
9,064
|
|
1,314
|
|
(56,467)
|
|
147,254
|
|
21,350
|
Income before income
tax, and share of loss in equity
method
|
2,103,069
|
|
2,597,107
|
|
376,546
|
|
5,739,197
|
|
8,286,452
|
|
1,201,422
|
Income tax
expense
|
(371,429)
|
|
(500,518)
|
|
(72,568)
|
|
(1,005,451)
|
|
(1,633,330)
|
|
(236,811)
|
Share of loss in equity
method investments
|
16,046
|
|
32,696
|
|
4,740
|
|
(32,419)
|
|
5,844
|
|
847
|
Net income
|
1,747,686
|
|
2,129,285
|
|
308,718
|
|
4,701,327
|
|
6,658,966
|
|
965,458
|
Net loss attributable
to non-controlling interests
|
14,644
|
|
33,326
|
|
4,832
|
|
53,500
|
|
150,090
|
|
21,761
|
Net income attributable
to ZTO Express (Cayman) Inc.
|
1,762,330
|
|
2,162,611
|
|
313,550
|
|
4,754,827
|
|
6,809,056
|
|
987,219
|
Net income attributable
to ordinary shareholders
|
1,762,330
|
|
2,162,611
|
|
313,550
|
|
4,754,827
|
|
6,809,056
|
|
987,219
|
Net earnings per share
attributed to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2.18
|
|
2.67
|
|
0.39
|
|
5.80
|
|
8.41
|
|
1.22
|
Diluted
|
2.18
|
|
2.61
|
|
0.38
|
|
5.80
|
|
8.36
|
|
1.21
|
Weighted average shares
used in calculating net
earnings per ordinary share/ADS
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
808,448,289
|
|
809,601,049
|
|
809,601,049
|
|
819,961,265
|
|
809,442,862
|
|
809,442,862
|
Diluted
|
808,448,289
|
|
841,226,602
|
|
841,226,602
|
|
819,961,265
|
|
820,273,531
|
|
820,273,531
|
Net income
|
1,747,686
|
|
2,129,285
|
|
308,718
|
|
4,701,327
|
|
6,658,966
|
|
965,458
|
Other comprehensive
(expenses) / income, net of tax of
nil:
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
(17,602)
|
|
35,752
|
|
5,184
|
|
(146,533)
|
|
155,432
|
|
22,536
|
Comprehensive
income
|
1,730,084
|
|
2,165,037
|
|
313,902
|
|
4,554,794
|
|
6,814,398
|
|
987,994
|
Comprehensive loss
attributable to non-controlling
interests
|
14,644
|
|
33,326
|
|
4,832
|
|
53,500
|
|
150,090
|
|
21,761
|
Comprehensive income
attributable to ZTO Express
(Cayman) Inc.
|
1,744,728
|
|
2,198,363
|
|
318,734
|
|
4,608,294
|
|
6,964,488
|
|
1,009,755
|
Unaudited
Consolidated Balance Sheets Data:
|
|
|
As of
|
|
December
31,
|
|
December
31,
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
(in thousands,
except for share data)
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
9,721,225
|
|
11,692,773
|
|
1,695,293
|
Restricted
cash
|
27,736
|
|
895,483
|
|
129,833
|
Accounts receivable,
net
|
933,444
|
|
818,968
|
|
118,739
|
Financing
receivables
|
1,111,461
|
|
951,349
|
|
137,933
|
Short-term
investment
|
2,845,319
|
|
5,753,483
|
|
834,177
|
Inventories
|
82,961
|
|
40,537
|
|
5,877
|
Advances to
suppliers
|
667,855
|
|
861,573
|
|
124,916
|
Prepayments and other
current assets
|
3,142,368
|
|
3,146,378
|
|
456,182
|
Amounts due from
related parties
|
133,990
|
|
314,483
|
|
45,596
|
Total current
assets
|
18,666,359
|
|
24,475,027
|
|
3,548,546
|
Investments in equity
investee
|
3,730,448
|
|
3,950,544
|
|
572,775
|
Property and equipment,
net
|
24,929,897
|
|
28,813,204
|
|
4,177,522
|
Land use rights,
net
|
5,335,549
|
|
5,442,951
|
|
789,154
|
Intangible assets,
net
|
35,634
|
|
29,437
|
|
4,268
|
Operating lease
right-of-use assets
|
897,238
|
|
808,506
|
|
117,222
|
Goodwill
|
4,241,541
|
|
4,241,541
|
|
614,966
|
Deferred tax
assets
|
934,848
|
|
750,097
|
|
108,754
|
Long-term
investment
|
1,214,500
|
|
7,322,545
|
|
1,061,669
|
Long-term financing
receivables
|
1,412,956
|
|
1,295,755
|
|
187,867
|
Other non-current
assets
|
762,273
|
|
816,839
|
|
118,431
|
Amounts due from
related parties-non current
|
611,100
|
|
577,140
|
|
83,677
|
TOTAL
ASSETS
|
62,772,343
|
|
78,523,586
|
|
11,384,851
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Short-term bank
borrowing
|
3,458,717
|
|
5,394,423
|
|
782,118
|
Accounts
payable
|
1,957,529
|
|
2,202,692
|
|
319,360
|
Notes
payable
|
174,920
|
|
200,000
|
|
28,997
|
Advances from
customers
|
1,226,549
|
|
1,374,691
|
|
199,311
|
Income tax
payable
|
86,789
|
|
228,422
|
|
33,118
|
Amounts due to related
parties
|
22,786
|
|
49,138
|
|
7,124
|
Operating lease
liabilities
|
250,995
|
|
229,718
|
|
33,306
|
Acquisition
consideration payable
|
22,942
|
|
-
|
|
-
|
Dividends
payable
|
708
|
|
1,497
|
|
217
|
Other current
liabilities
|
5,794,380
|
|
6,724,743
|
|
974,999
|
Total current
liabilities
|
12,996,315
|
|
16,405,324
|
|
2,378,550
|
Non-current operating
lease liabilities
|
556,091
|
|
510,349
|
|
73,994
|
Deferred tax
liabilities
|
292,356
|
|
346,472
|
|
50,234
|
Convertible senior
bond
|
-
|
|
6,788,971
|
|
984,308
|
TOTAL
LIABILITIES
|
13,844,762
|
|
24,051,116
|
|
3,487,086
|
Shareholders'
equity
|
|
|
|
|
|
Ordinary shares
(US$0.0001 par value; 10,000,000,000 shares authorized,
826,943,309
shares issued and 808,448,289 shares
outstanding as of December 31, 2021; 826,943,309
shares issued and 809,247,109 shares
outstanding as of December 31, 2022)
|
535
|
|
535
|
|
77
|
Additional paid-in
capital
|
28,229,026
|
|
26,717,727
|
|
3,873,706
|
Treasury shares, at
cost
|
(2,067,009)
|
|
(2,062,530)
|
|
(299,039)
|
Retained
earnings
|
22,716,799
|
|
29,459,491
|
|
4,271,225
|
Accumulated other
comprehensive loss
|
(242,104)
|
|
(86,672)
|
|
(12,566)
|
ZTO Express (Cayman)
Inc. shareholders' equity
|
48,637,247
|
|
54,028,551
|
|
7,833,403
|
Noncontrolling
interests
|
290,334
|
|
443,919
|
|
64,362
|
Total
Equity
|
48,927,581
|
|
54,472,470
|
|
7,897,765
|
TOTAL LIABILITIES
AND EQUITY
|
62,772,343
|
|
78,523,586
|
|
11,384,851
|
Summary of Unaudited
Consolidated Cash Flow Data:
|
|
|
Three Months Ended
December 31,
|
|
Year Ended December
31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
(in
thousands)
|
|
|
|
|
Net cash provided by
operating activities
|
3,023,783
|
|
3,769,838
|
|
546,575
|
|
7,220,217
|
|
11,479,308
|
|
1,664,343
|
Net cash used in
investing activities
|
(2,814,265)
|
|
(4,380,805)
|
|
(635,157)
|
|
(8,756,533)
|
|
(16,041,890)
|
|
(2,325,855)
|
Net cash (used in) /
provided by financing activities
|
(787,457)
|
|
(1,707,120)
|
|
(247,509)
|
|
(2,903,985)
|
|
7,058,202
|
|
1,023,343
|
Effect of exchange rate
changes on cash, cash equivalents and
restricted cash
|
(47,876)
|
|
(59,220)
|
|
(8,586)
|
|
(150,430)
|
|
338,106
|
|
49,021
|
Net
(decrease)/increase in cash, cash equivalents and
restricted
cash
|
(625,815)
|
|
(2,377,307)
|
|
(344,677)
|
|
(4,590,731)
|
|
2,833,726
|
|
410,852
|
Cash, cash equivalents
and restricted cash at beginning of period
|
10,395,176
|
|
14,980,394
|
|
2,171,953
|
|
14,360,092
|
|
9,769,361
|
|
1,416,424
|
Cash, cash equivalents
and restricted cash at end of period
|
9,769,361
|
|
12,603,087
|
|
1,827,276
|
|
9,769,361
|
|
12,603,087
|
|
1,827,276
|
The following table provides a reconciliation of cash, cash
equivalents and restricted cash reported within the condensed
consolidated balance sheets that sum to the total of the same such
amounts shown in the condensed consolidated statements of cash
flows:
|
As of
|
|
December
31,
|
|
December
31,
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
(in
thousands)
|
Cash and cash
equivalents
|
9,721,225
|
|
11,692,773
|
|
1,695,293
|
Restricted cash,
current
|
27,736
|
|
895,483
|
|
129,833
|
Restricted cash,
non-current
|
20,400
|
|
14,831
|
|
2,150
|
Total cash, cash
equivalents and restricted cash
|
9,769,361
|
|
12,603,087
|
|
1,827,276
|
Reconciliations of
GAAP and Non-GAAP Results
|
|
|
Three Months Ended
December 31,
|
|
Year Ended December
31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
(in thousands, except
for share and per share data)
|
|
|
|
|
Net income
|
1,747,686
|
|
2,129,285
|
|
308,718
|
|
4,701,327
|
|
6,658,966
|
|
965,458
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expense (1)
|
-
|
|
-
|
|
-
|
|
248,027
|
|
178,980
|
|
25,950
|
Impairment of
investment in equity investee (1)
|
-
|
|
-
|
|
-
|
|
-
|
|
26,328
|
|
3,817
|
Gain on disposal of
equity investees and
subsidiary and others, net of income taxes
|
(2,357)
|
|
(9,083)
|
|
(1,317)
|
|
(2,357)
|
|
(58,275)
|
|
(8,449)
|
Adjusted net
income
|
1,745,329
|
|
2,120,202
|
|
307,401
|
|
4,946,997
|
|
6,805,999
|
|
986,776
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
1,747,686
|
|
2,129,285
|
|
308,718
|
|
4,701,327
|
|
6,658,966
|
|
965,458
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
|
567,264
|
|
665,400
|
|
96,474
|
|
2,102,310
|
|
2,540,899
|
|
368,396
|
Amortization
|
30,354
|
|
35,199
|
|
5,103
|
|
119,458
|
|
129,647
|
|
18,797
|
Interest
expenses
|
24,852
|
|
76,147
|
|
11,040
|
|
126,503
|
|
190,521
|
|
27,623
|
Income tax
expenses
|
371,429
|
|
500,518
|
|
72,568
|
|
1,005,451
|
|
1,633,330
|
|
236,811
|
EBITDA
|
2,741,585
|
|
3,406,549
|
|
493,903
|
|
8,055,049
|
|
11,153,363
|
|
1,617,085
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expense
|
-
|
|
-
|
|
-
|
|
248,027
|
|
178,980
|
|
25,950
|
Impairment of
investment in equity investee
|
-
|
|
-
|
|
-
|
|
-
|
|
26,328
|
|
3,817
|
Gain on disposal of
equity investees and
subsidiary and others, before of income taxes
|
(2,357)
|
|
(9,083)
|
|
(1,317)
|
|
(2,357)
|
|
(69,598)
|
|
(10,091)
|
Adjusted
EBITDA
|
2,739,228
|
|
3,397,466
|
|
492,586
|
|
8,300,719
|
|
11,289,073
|
|
1,636,761
|
________________________
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Net of income taxes
of nil
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliations of
GAAP and Non-GAAP Results
|
|
|
Three Months Ended
December 31,
|
|
Year Ended December
31,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
(in thousands, except
for share and per share data)
|
|
|
|
|
Net income attributable
to ordinary shareholders
|
1,762,330
|
|
2,162,611
|
|
313,550
|
|
4,754,827
|
|
6,809,056
|
|
987,219
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expense (1)
|
-
|
|
-
|
|
-
|
|
248,027
|
|
178,980
|
|
25,950
|
Impairment of
investment in equity investee (1)
|
-
|
|
-
|
|
-
|
|
-
|
|
26,328
|
|
3,817
|
Gain on disposal of
equity investees and
subsidiary and others, net of income taxes
|
(2,357)
|
|
(9,083)
|
|
(1,317)
|
|
(2,357)
|
|
(58,275)
|
|
(8,449)
|
Adjusted Net income
attributable to ordinary
shareholders
|
1,759,973
|
|
2,153,528
|
|
312,233
|
|
5,000,497
|
|
6,956,089
|
|
1,008,537
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares
used in share/ADS calculating net
earnings per ordinary
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
808,448,289
|
|
809,601,049
|
|
809,601,049
|
|
819,961,265
|
|
809,442,862
|
|
809,442,862
|
Diluted
|
808,448,289
|
|
841,226,602
|
|
841,226,602
|
|
819,961,265
|
|
820,273,531
|
|
820,273,531
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share/ADS attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2.18
|
|
2.67
|
|
0.39
|
|
5.80
|
|
8.41
|
|
1.22
|
Diluted
|
2.18
|
|
2.61
|
|
0.38
|
|
5.80
|
|
8.36
|
|
1.21
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net earnings
per share/ADS attributable to
ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2.18
|
|
2.66
|
|
0.39
|
|
6.10
|
|
8.59
|
|
1.25
|
Diluted
|
2.18
|
|
2.60
|
|
0.37
|
|
6.10
|
|
8.54
|
|
1.23
|
|
|
|
|
|
|
|
|
|
|
|
|
________________________
|
|
|
|
|
|
|
|
|
|
|
|
(1) Net of income taxes
of nil
|
|
|
|
|
|
|
|
|
|
|
|
For investor and media inquiries, please contact:
ZTO Express (Cayman) Inc.
Investor Relations
E-mail: ir@zto.com
Phone: +86 21 5980 4508
View original
content:https://www.prnewswire.com/news-releases/zto-reports-fourth-quarter-2022-and-full-year-2022-unaudited-financial-results-301773146.html
SOURCE ZTO Express (Cayman) Inc.