ZTO Express Q3: Margins Plunge Vs Q2 | Abandons Pursuit of Share Gains | Is There a New Strategy?
ZTO has long employed a strategy of market share gains it uses to offset declining unit prices. Under current depressed market conditions, it has...
484 Views
CaiNiao Smart Logistics Pre-IPO Part 5 | For Better or Worse, J&T IPO Will Impact CaiNiao Valuation
For better or worse, we believe investors will view J&T Global Express' recent IPO as the primary reference point for CaiNiao's planned IPO in Hong...
589 Views
Q323 Another Tough Quarter for Kerry Express Thailand (KEX) | Negative Read-Through for J&T Global
Q323 was another quarter of Y/Y declines in revenue and margins for KEX, though profitability actually improved versus Q2. The read-through for...
378 Views
CaiNiao Smart Logistics Pre-IPO Part 4 | Acquiring BABA's Express Stakes Could Soak Up IPO Proceeds
The transfer of Alibaba's logistics investments to CaiNiao could require billions of dollars of new funds in the short- to medium-term, potentially...
545 Views
The Four Listed Chinese Express Companies Suffered Significant Margin Erosion in Q323
A new price war among China's 'sort and transport' express companies drove down the group's core margins in Q3, and we expect the pain to continue...
371 Views