Great Wisdom News November 25 | CICC's research report pointed out that ZTO Express announced its third quarter performance, with revenue of 10.675 billion yuan, up 18% year-on-year, gross profit of 3.335 billion yuan, up 23% year-on-year, and non-GAAP net profit of 2.387 billion yuan, up 2% year-on-year, in line with expectations. The bank stated that the company has revised its full-year guidance, expecting a full-year business volume growth rate of between 11.6% and 12.3% in 2024, corresponding to a daily average parcel volume of between 92.33 million and 92.88 million pieces. The bank basically maintains its 2024 profit forecast unchanged. Considering the potential changes in the competitive landscape next year, the bank has lowered its 2025 profit forecast for ZTO Express by 9% to 10.791 billion yuan, maintaining an "outperform industry" rating and lowering the target price by 7% to $25.7.
研报掘金｜中金：下调中通快递目标价至25.7美元 维持“跑赢行业”评级
Research reports｜CICC: Lowering zto express target price to $25.7, maintaining 'outperform' rating in the industry.
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