ZTO Express' Affiliate to Purchase Properties in Zhejiang, China
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zto express - W (02057.HK) plans to invest 0.18 billion yuan to acquire property and will establish its second headquarters in Tonglu County.
Gelonghui November 29th, zto express-W (02057.HK) announced that on November 29, 2024, zto express (the consolidated subsidiary of the company) entered into a property purchase agreement with Zhongkuai Future City. Accordingly, zto express agreed to purchase, while Zhongkuai Future City agreed to sell a property with a total construction area of 0.0225 million square meters, at a total price of approximately 0.18 billion yuan. The properties to be acquired include (i) Building 1 of Blue City, from the 13th to 19th floor, with a total construction area of 0.0141 million square meters, and (ii) Building 11, from the 13th to 17th floor, with a total construction area of 8327.55 square meters.
Express News | Zto express announced on the Hong Kong Stock Exchange that the company agreed to purchase the property of Zhongkuai Future City for a total price of 0.18 billion yuan.
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Research reports｜CICC: Lowering zto express target price to $25.7, maintaining 'outperform' rating in the industry.
Gelonghui, November 25 | According to a research report from China International Capital Corporation, zto express announced its third-quarter performance, with revenue of 10.675 billion yuan, an 18% year-on-year increase, and a gross profit of 3.335 billion yuan, a 23% year-on-year increase, with a non-GAAP net profit of 2.387 billion yuan, a 2% year-on-year increase, meeting expectations. The company has revised its full-year guidance, expecting a full-year business volume growth rate between 11.6% and 12.3% for 2024, corresponding to a daily average parcel volume between 92.33 million and 92.88 million parcels. The profit forecast for 2024 remains largely unchanged. Considering the potential changes in the competitive landscape next year, the firm lowered zto express's forecast for 2025.