According to a research report published in Lyon, sales of Zhongtong Express increased 11% year-on-year in the first quarter of fiscal year 2024; adjusted net profit increased 14% year-on-year. It mainly benefits from the company's attention to its high-quality package service and continuous cost reduction strategies. The bank also said that since Zhongtong Express is in the first quarter of this year, priority is being given to improving its service quality and profitability. As a result, the average sales unit price of the company recorded the smallest year-on-year decline, and adjusted net profit per unit continued to improve.

The bank believes that the trend of increasing profitability of Zhongtong Express will continue, while the user stickiness of high-quality package services will continue to increase. Furthermore, Lyon said that there were no major adjustments to the profit forecast for Zhongtong Express, plus factors such as improving market sentiment. The bank raised the target price of Zhongtong Express H shares from HK$210.68 to HK$223.43 and reaffirmed the “buy” rating.