中通快递-W：1Q24 core earnings beat estimates; Shifted to profitable growth strategy
02057中通快递-W(02057) 招银国际·2024-05-17 08:32

M N 16 May 2024 CMB International Global Markets | Equity Research | Company Update ZTO Express (2057 HK) 1Q24 core earnings beat estimates; Shifted to profitable growth strategy Target Price HK303.00ZTOExpress(ZTO)shiftedthestrategicfocustoprofitablegrowthin1Q24,Up/Downside74.5303.00 ZTO Express (ZTO) shifted the strategic focus to profitable growth in 1Q24, Up/Downside 74.5% enabling it to deliver core net profit of RMB1.9bn (+23% YoY), representing 19% Current Price HK173.60 of our full-year forecast (run rate in 1Q23: 17.6%), which is better than our expectation. Looking forward, ZTO ...