<div id="readability-page-1">Logistics company ZTO Express (Cayman) Inc. (2057.HK; ZTO.US) announced on Monday that its first-quarter net profit rose 6.28% year-on-year to 2.12 billion yuan ($311 million), supported by continued parcel volume growth and improved per-parcel pricing. Its adjusted net profit increased 5.2% to 2.38 billion yuan. The company’s revenue grew 22% year-on-year during the quarter to 13.28 billion yuan, with core express delivery service revenue rising 22.5%, mainly driven by a 13.2% increase in parcel volume and an 8.2% increase in average parcel pricing. Total parcel volume reached 9.67 billion units, outpacing the average industry growth rate by 7.4 percentage points, the company said. ZTO founder and Chairman Lai Meisong said the company continued to focus on service quality, customer satisfaction and fairness in network policies during the quarter. He added that strong growth in key account customers and faster expansion in non-e-commerce parcel business helped improve the company’s revenue mix and overall profitability. During the period, the company’s transportation and sorting cost per parcel declined by 0.06 yuan year-on-year, benefiting from economies of scale and improved route planning efficiency. However, its gross margin edged down to 24.4% from 24.7% a year earlier, while operating profit rose 5.8% to 2.55 billion yuan. ZTO’s stock opened higher on Wednesday in Hong Kong but later turned lower, closing at HK$168.4 by the midday break, down 6.44%. The stock has gained about 12% over the past six months. By Lee Shih Ta To subscribe to Bamboo Works weekly free newsletter, click here</div>

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物流公司 ZTO 快递（开曼）有限公司；周一宣布，第一季度净利润同比增长 6.28%，达到 21.2 亿元人民币（3.11 亿美元），得益于包裹量增长和每件包裹定价改善。调整后净利润增长 5.2%，达到 23.8 亿元人民币。该季度收入同比增长 22%，达到 132.8 亿元人民币，核心快递服务收入增长 22.5%。

- 中通快递第一季度净利润同比增长 6.28% 至 21.2 亿元。  
- 收入同比增长 22% 至 132.8 亿元，核心快递服务收入上升 22.5%。  
- 运输和分拣成本每件下降 0.06 元，整体盈利能力改善。

BRIEF: ZTO’s first-quarter profit rises 6.3% on higher pricing and volume