ZTO Express' net profit after adjustments in 2025 is expected to be 9.5 billion yuan, with a new authorization for a $1.5 billion share repurchase plan.

Shanghai Securities News China Securities Journal Report (Reporter Feng Xinyi): On March 18, Zhongtong Express announced its Q4 and full-year 2025 results. The financial report shows that Zhongtong Express’s parcel volume in 2025 increased by 4.5 billion pieces year-on-year, a 13.3% increase; total operating revenue grew by 10.9% to 49.099 billion yuan, with an adjusted net profit of 9.513 billion yuan. In Q4 2025, the bulk parcel business volume reached an average of 9.8 million pieces per day, a year-on-year increase of over 38%.

As of December 31, 2025, Zhongtong Express had over 6,000 direct network partners nationwide, operated more than 31,000 pickup and delivery outlets, and over 100,000 terminal stations. The logistics infrastructure network includes 93 sorting centers and 781 automated sorting lines.

During the earnings call, Lai Meisong, founder, chairman, and CEO of Zhongtong Express, stated that since the implementation of anti-inflation policies in Q3 2025, the industry competition environment has continued to improve, courier prices have steadily risen, and end-user rights have been effectively protected. With the normalization of policy enforcement, the industry is expected to continue competitive, above cost levels, in an orderly manner.

Additionally, on March 17, Zhongtong Express’s board approved a new share repurchase plan, authorizing the company to buy back up to $1.5 billion worth of shares over the next 24 months.

Based on current market conditions and operational performance, Zhongtong Express expects its total parcel volume in 2026 to be between 42.37 billion and 43.52 billion pieces, representing a year-on-year increase of 10% to 13%.