JP-ZTO @EC2608A

Citi Analyst Maintains Buy Rating on ZTO Express With a Price Target

China Merchants Securities Maintains Buy Rating for ZTO Express

Goldman Sachs Raises ZTO Express's Target Price and Profit Forecast

FactSet Raises 2026 EPS Forecast for ZTO to $1.98

ZTO Express Announces Board Structure and Analyst Ratings

ZTO Express Announces 2025 Annual Earnings and 2026 Business Outlook

ZTO Express Releases 2025 Unaudited Performance and Warns of Industry Risks

ZTO Express Approves $1.5 Billion Stock Repurchase Plan

ZTO Express Q4 Revenue Exceeds Analyst Expectations

ZTO EXPRESS-W released FY2025 earnings on March 17 After-Market (BJT), actual revenue HKD 53.66 B (forecast HKD 54.27 B), actual EPS HKD 12.2302 (forecast HKD 12.2116)

ZTO EXPRESS-W released FY2025 Q4 earnings on March 17 After-Market (BJT), actual revenue HKD 16.14 B (forecast HKD 15.72 B), actual EPS HKD 3.6808

ZTO EXPRESS-W to Release FY2025 Q4 Earnings on March 18 After-Market (BJT), Forecast Revenue HKD 16.06 B

Zhongtong Digital HK Obtains MSO License from Hong Kong Customs

ZTO Express (Cayman) Inc. Repurchased 617,800 Shares for $14.8037 Million

ZTO Express (Cayman) repurchased 617,616 A-class shares

HSBC 上调 ZTO Express Earnings Forecast and Target Price

ZTO Express repurchases 611,300 shares

ZTO Express (Cayman) Inc repurchased about 1,832,900 shares

ZTO Express (Cayman) Inc. repurchased 612,400 shares for $15.2555 million

Cainiao Rumored to Acquire ZTO Express's Tuxi, Intensifying Competition in Parcel Lockers Industry

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DBS analyst Zoe Zhang has reaffirmed a Buy rating for ZTO Express (Cayman), Inc. Class A (2057), setting a price target of HK$234.00. The analyst consensus for the stock is a Strong Buy, with an average price target of HK$223.38. Zhang has a 44.44% success rate and an average return of 1.1% on her stock recommendations, covering the Industrials sector including ZTO Express, FedEx, and United Parcel.

- Zoe Zhang from DBS has maintained a Buy rating on ZTO Express (Cayman), Inc. Class A, setting a price target of HK$234.00.  
- Zhang focuses on the Industrials sector and has an average return of 1.1% with a success rate of 44.44% on recommended stocks.  
- Overall, analysts suggest a Strong Buy consensus rating for ZTO Express (Cayman), Inc. Class A, with an average price target of HK$223.38.

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DBS Sticks to Its Buy Rating for ZTO Express (Cayman), Inc. Class A (2057)

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Jefferies has reaffirmed a Buy rating on ZTO Express (Cayman), Inc. Class A (2057) with a price target of HK$230.50, while the shares closed at HK$195.80. Analyst Thomas Chong, a 5-star analyst, has an average return of 11.0% and a success rate of 51.02%. The consensus on the stock is a Strong Buy with an average price target of HK$215.14, indicating a potential upside of 9.88%. DBS also maintains a Buy rating with a price target of HK$181.00.

- Thomas Chong from Jefferies has maintained a Buy rating on ZTO Express (Cayman), Inc. Class A, with a price target of HK$230.50.  
- The company’s shares closed at HK$195.80, while the analyst consensus indicates a Strong Buy with an average price target of HK$215.14.  
- DBS also supports this rating with a Buy recommendation and a price target of HK$181.00.

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Jefferies Reaffirms Their Buy Rating on ZTO Express (Cayman), Inc. Class A (2057)

CICC released a report, raising the target price for ZTO Express by 20% to USD 30, maintaining an "outperform the industry" rating. ZTO Express's Q4 2025 performance met expectations, with revenue of RMB 14.511 billion, a year-on-year increase of 12% and a quarter-on-quarter increase of 22%; gross profit was RMB 3.682 billion, a year-on-year decrease of 2% and a quarter-on-quarter increase of 25%. It is expected that profits for 2026 will be revised up by 5% to RMB 11.071 billion, and a profit forecast for 2027 has been introduced at RMB 12.462 billion

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In "The Big Banks," China International Capital Corporation raised the target price for ZTO Express to $30, rating it as "Outperform the Industry."

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In the past two months, the volume of express delivery services in China's postal industry exceeded 33 billion pieces, and the market size of the industry is steadily growing. According to the latest data from the State Post Bureau, from January to February, the cumulative volume of express delivery services in the postal industry reached 33.14 billion pieces, a year-on-year increase of 5.6%. Among them, the cumulative volume of express delivery services reached 30.49 billion pieces, a year-on-year increase of 7.1%

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In the past two months, the volume of delivery services in China's postal industry exceeded 33 billion pieces

Macquarie's research report points out that ZTO Express benefits from anti-involution policies, and it is expected that its performance will outperform the industry in 2026, driving improvements in profitability. The average revenue per package is expected to increase by 0.06 RMB, with a year-on-year sales growth of 13%. Adjusted net profit is expected to increase by 17% to 11 billion RMB. Macquarie has raised its net profit forecasts for ZTO for the next two years by 8% and 12%, with a target price increased from $26.6 to $30.4, maintaining a rating of "Outperform."

Macquarie expects ZTO Express to benefit from anti-involution measures that promote profitability improvement, raising the target price to $30.4

In a report released yesterday, from CMB International Securities maintained a Buy rating on ZTO Express (Cayman), Inc. Class A, with a price target of HK$233.00.Claim 70% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential ZTO Express (Cayman), Inc. Class A has an analyst consensus of Strong Buy, with a price target consensus of HK$214.13.

- CMB International Securities has maintained a Buy rating on ZTO Express (Cayman), Inc. Class A, with a price target set at HK$233.00.  
- The analyst consensus for ZTO Express is a Strong Buy, indicating positive market sentiment.  
- Additionally, the price target consensus among analysts is HK$214.13.

CMB International Securities Reaffirms Their Buy Rating on ZTO Express (Cayman), Inc. Class A (2057)

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On March 19th, the three major Hong Kong stock indices collectively adjusted in the afternoon, with the Hang Seng Index falling 1.66% and failing to maintain its strength, leading to a cautious trading sentiment. Tencent Holdings dropped 5.9%, dragging down the internet sector, while the hardware storage sector, driven by innovation expectations, saw Xiaomi Group leading the way against the trend. During the macro data lull, market funds focused on the differentiated performance of core assets, with Tencent, Xiaomi, and Alibaba ranking in the top three for trading volume

- As of March 19, Hong Kong's stock indices fell collectively, with the Hang Seng Index declining by 1.66% to 25,592.99 points.  
- The technology sector suffered, particularly with Tencent Holdings dropping 5.90%, while the hardware and storage sectors showed strength, led by Xiaomi.  
- Investors remained cautious ahead of upcoming economic data, leading to a lack of strong market drivers amid concerns over external market volatility.

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Hong Kong Stock Midday Review | Hang Seng Index down 1.66%, Tencent leads the decline, Xiaomi rises 4.27% against the trend to support the market

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Daiwa has raised the target price for ZTO EXPRESS to RMB 210, with the rating downgraded to "Outperform." The report indicates that the parcel volume is expected to grow by 9% year-on-year in the fourth quarter of 2025, but the unit gross profit will decline by 10%. The average selling price will increase by 2.3%, offset by an 8.6% increase in unit costs, resulting in a year-on-year decrease in gross margin of 3.7 percentage points to 25.4%. Adjusted earnings are expected to decline by 2% year-on-year to RMB 2.627 billion, which is better than expected, mainly due to lower-than-expected income tax. Earnings per share forecasts for 2026 to 2027 have been raised by 3% to 5%

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Daiwa raised the target price of ZTO EXPRESS to 210 yuan, rating downgraded to "Outperform the Market"

Morgan Stanley pointed out that ZTO Express's market share has increased, and profit forecasts have been raised, with the target price rising from $25 to $28.5. This move is attributed to market consolidation and local regulations protecting the welfare of delivery workers. ZTO's management agreed that the price floor will continue to exist, and the market share lock will gradually be lifted. Based on adjustments to profit assumptions for the next two years, net profit forecasts have been increased by 3.6% and 9.6%, respectively. Morgan Stanley reiterated its "In Line with the Market" rating on ZTO, believing that the trend of upward profit forecasts and valuation expansion will continue

Morgan Stanley: ZTO Express's market share increase helps raise profit forecasts, target price raised to $28.5

CMB International raised the target price of ZTO Express to RMB 233, with a rating of "Buy." The company's net profit grew by 3% to RMB 9.08 billion last year, but core profit fell by 6% to RMB 9 billion, below expectations. It is expected that the package volume growth rate will be 10% to 13% in 2026, higher than the industry average, and a stock repurchase plan of USD 1.5 billion has been approved, aiming to achieve an annual shareholder return of at least 50% of adjusted net profit

CITIC International raised the target price of ZTO Express to 233 yuan with a rating of "Buy"

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Hong Kong stocks are under pressure during the trading session, with all three major indices retreating collectively. The Hang Seng Index fell by 1.20%, the Hang Seng Tech Index dropped by 1.09%, and the National Enterprises Index decreased by 0.86%, failing to break through previous highs. Most stocks in the internet and retail sectors declined, while the hardware sector showed divergence, with Xiaomi Group rising against the trend. Tencent, Xiaomi, and Alibaba had the highest trading volumes, and market sentiment remains cautious, with noticeable attention on capital flows during the session

- As of March 19, Hong Kong stocks are under pressure, with all major indices declining.  
- The Hang Seng Index reported a drop of 1.20%, unable to sustain the peak reached on March 18, while the overall market sentiment remains cautious, reflecting investors' concerns about economic data like retail and exports.  
- The technology sector saw significant downturns, particularly Tencent and Kuaishou, which fell by 5.45% and 4.24%, respectively, as funds moved towards defensive stock positions.

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Hong Kong stock market intraday | Hang Seng Index down 1.2%, internet sector broadly declines, Xiaomi Group rises 4.67% against the trend

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ZTO Express (Cayman) (NYSE:ZTO) reported Q4 FY 2025 revenue of C¥14.5b and EPS of C¥3.31, up from C¥12.9b and C¥2.97 in Q4 FY 2024. Despite a trailing twelve month EPS of C¥11.38 and a net margin decline from 19.9% to 18.5%, analysts expect earnings to grow by 9.6% annually. The bullish narrative suggests automation and AI will drive growth, while bears highlight pricing pressure and margin risks. ZTO's current P/E of 14.7x is below industry averages, indicating a market discount for these risks. Investors are advised to weigh risks and rewards carefully.

- ZTO Express (Cayman) reported fourth quarter revenue of C¥14.5 billion and basic EPS of C¥3.31 for FY 2025, an increase from the previous year.  
- Despite growth in earnings, the trailing net margin decreased from 19.9% to 18.5%, affected by pricing pressure and a shift in parcel mix.  
- Analysts project an annual earnings growth of 9.6%, although recent performance reflects only a 3% growth, raising concerns over future margins and dividend stability.

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ZTO Express (NYSE:ZTO) Margin Slippage Tests Bullish Automation Narrative

The NASDAQ Golden Dragon China Index closed down 1.9% preliminarily. Among popular Chinese concept stocks, Weibo fell 10.8%, Tencent Music dropped 9.4%, QFIN fell 8.3%, Li Auto decreased by 5.1%, Tencent Holdings fell 4.7%, and PDD dropped 3.5%. Several stocks, including BYD, saw declines of over 1%. Canadian Solar and Century Internet rose by no more than 1.5%. New Oriental increased by 3.6%, ZTO EXPRESS rose by 7.3%, and Kingsoft Cloud climbed 12.6%

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ZTO Express shares are trading higher after the company reported a year-over-year increase in Q4 adjusted EPS and better-than-expected sales results.

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JP-ZTO @EC2608A Stock Performance Chart

DBS Sticks to Its Buy Rating for ZTO Express (Cayman), Inc. Class A (2057)

Jefferies Reaffirms Their Buy Rating on ZTO Express (Cayman), Inc. Class A (2057)

In "The Big Banks," China International Capital Corporation raised the target price for ZTO Express to $30, rating it as "Outperform the Industry."

In the past two months, the volume of delivery services in China's postal industry exceeded 33 billion pieces

Macquarie expects ZTO Express to benefit from anti-involution measures that promote profitability improvement, raising the target price to $30.4