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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>Autos /In Depth: How smart cars are upending the auto supply chain</li><li>Capsized /: 39 missing after Chinese fishing vessel capsizes in Indian Ocean</li><li>Talk show /: Chinese comedy producer takes $2.1 million hit for military pun</li></ul>

Autos /In Depth: How smart cars are upending the auto supply chainCapsized /: 39 missing after Chinese fishing vessel capsizes in Indian OceanTalk show /: Chinese comedy producer takes $2.1 million hit for military pun

CX Daily: How Smart Cars Are Upending the Auto Supply Chain

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zto-express" target="_blank" data-smartkarma-citation="entities:23628:1" rel="noopener">ZTO Express (ZTO US)</a> parcel volume increased by 20.5% Y/Y in Q1, better than market growth</li>
<li>Unit prices fell by 3.7%, slightly worse than peers in Q1 2023, and Revenue missed consensus</li>
<li>EPS beat expectations on lower unit costs, and management raised full-year volume target</li>
</ul>



ZTO Express (ZTO US) parcel volume increased by 20.5% Y/Y in Q1, better than market growth
Unit prices fell by 3.7%, slightly worse than peers in Q1 2023, and Revenue missed consensus
EPS beat expectations on lower unit costs, and management raised full-year volume target


ZTO Express Q1 Results Surprise: Despite Lower Pricing, Margins Up Y/Y | Mgmt Raises Volume Guidance

<ul>
<li>March parcel volume growth (22.7%) improved against an easy comp (-3.1%) from 2022</li>
<li>Prices are declining, too (-3.2% Y/Y) -- not yet precipitous, but worst since Q1 2022</li>
<li>Based on what we see, ZTO's 2023 volume targets will still be difficult to meet</li>
</ul>


March parcel volume growth (22.7%) improved against an easy comp (-3.1%) from 2022
Prices are declining, too (-3.2% Y/Y) -- not yet precipitous, but worst since Q1 2022
Based on what we see, ZTO's 2023 volume targets will still be difficult to meet


TRACKING TRAFFIC/Chinese Express: Volume Up Versus Weak Comp | Prices Down | Yunda Lags Group

Hong Kong

Cainiao Smart Logistics Network Ltd. operates as an investment company. The Company provides equity investments, investment management, and other services. Cainiao Smart Logistics Network is located in Hong Kong.

Cainiao Smart Logistics Network (1437124D HK)

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Cainiao Smart Logistics Network (1437124D HK)

CX Daily: How Smart Cars Are Upending the Auto Supply Chain

Autos /In Depth: How smart cars are upending the auto supply chain Capsized /: 39 missing after Chinese fishing vessel capsizes in Indian...

Caixin Global

ZTO Express Q1 Results Surprise: Despite Lower Pricing, Margins Up Y/Y | Mgmt Raises Volume Guidance

ZTO's Q1 results showed strong volume growth, but also weaker unit pricing and a lack of control over SG&A expenses. We retain our negative view on...

Tracking Traffic

TRACKING TRAFFIC/Chinese Express: Volume Up Versus Weak Comp | Prices Down | Yunda Lags Group

In March, Chinese express industry volume was up 22.7% Y/Y against easy comps, but ASPs declined the most since February 2022. We still believe ZTO...

Tracking Traffic

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