Shanghai November 19, 2019 / PRNewswire / –11 19, through courier (NYSE: ZTO) released the 2019 third quarter results.
earnings summary display, in the third quarter through courier business volume completed 3.058 billion, an increase of 45.9 percentage, exceeding the industry average growth rate of 18.4 percent. Market share a year earlier, 2.3 percentage points up to 18.9 to enhance the percentage. Profitability steady growth, adjusted net profit of 1.318 billion yuan, an increase of 24.6 percentage from a year earlier, exceeding market expectations. At the same time, performance in service quality and customer satisfaction has also maintained a lead.
through courier chairman Laimei Song said: “In the third quarter through business development maintained a good momentum, while ensuring quality of service at the same time, completed the established target profit
. this year the network adjustment policies played a good effect, the volume of business in the pass occupy a greater advantage in a growing number of regions in. the growing volume of business to further enlarge our scale, infrastructure, energy efficiency sustained release Automotive and automatic sorting and energy efficiency upgrades to further enhance the cost-effectiveness. At the same time, we also focus on the importance of implementing the end of resources and capacity building to join the network promote, encourage our partners for future growth in business volume and the end cost burdens actively preparing.
the annual ‘two-eleven’ to test the express industry ‘collection, transfer, transport, send’ time capacity this year ‘double 11’ day, in the pass orders exceeded 200 million, Lanshou exceeded 100 million; ‘two-eleven’ the next day, the annual total business volume exceeded 10 billion which is the pride of millions of Walter record. The new milestone at the same time, we have to vigilant, maintain a high sense of responsibility, sense of urgency, even a sense of crisis, we should not forget the early heart, make persistent efforts, long-distance run away China Express marathon.
2019 comes to a close, the next step we will continue to focus on the work of building the overall strength of the network, make the network work and accelerate the construction of flat end stores; continue to focus on building transport capacity, to achieve the ultimate efficiency; continue to focus on science and technology and ecological construction, to seize the lead from again the absolute advantage of the new opportunities ecological advantages transition; fine management focus and balance mechanism, and further adjustments’The balance between grain-producing areas’ and ‘sending pieces of area’, and continued to expand the lead. “
through courier Yan Huiping Group Chief Financial Officer, said:” We continue to expand in the third quarter of the market share, while achieving a net profit after adjustment of 1.318 billion yuan, exceeding market expectations. Operating cash flow 1.418 billion yuan, an increase of 55.5 percentage compared to the same period last year. The third quarter continue to enlarge the scale, cost-effective continuous improvement, single ticket plus shipping costs sorted down 10.7 percentage to 0.90 yuan a year earlier. After removing the effects of equity incentive related costs, SG & A expenses accounted for the proportion of revenue decreased 5.6 percentage from the same period last year to 5.3 percentage reflects the effectiveness of health scale leverage and meticulous management in cost control. “
Financial Highlights :
Revenue
2019 third quarter operating income up up 24.4 percent to 5.266 billion yuan. express delivery service revenue grew 26.8 percent to 4.676 billion yuan, of which 619 million yuan straight off the income, an increase of 31.7 percentage. excluding cross-border business income of 274 million yuan, 1.63 yuan single ticket revenue, year on year down 13.2 percentage. single ticket revenue decline is mainly due to the company to respond to market competition will subsidies be maintained at a high level due to, in addition to a slight decline in the average weight of a single parcel ticket revenue is also a small part of the impact.
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three quarters |
|||||||||
|
2018 |
2019 |
||||||||
|
(Unit: ‘000) [123 ] |
yuan
|
as a percentage of revenue
|
yuan
|
as a percentage of revenue
[ 123] |
|||||
|
3,688,358 |
|
[123 ] 87.1 |
|
4,675,993 |
|
88.8 [ 123] |
|
||
|
291,153 |
|
|
5.2 |
|
materials sold | ||||
|
199,997 |
4.7 [ 123] |
276,452 |
5.3 |
|
|||||
|
|
|
[ 123] |
0.7 |
|
|
Total revenue | |||
|
|
100.0 |
5,265,760 |
100.0 |
[ 123] |
|||||
three quarters
|
|
2018 | ||||||||
|
|
|
yuan | |||||||
| percentage | accounting for income
|
yuan
[123 ] |
as a percentage of revenue |
|
(unit: ‘000) |
||||
|
transport costs |
1,354,209 | ||||||||
|
32.0 |
1,783,180
|
33.9
|
|
operating costs |
|
765,863 | |||
|
|
978,417
|
18.6 [123 ]
|
cost cross-border |
|
|||||
|
6.7 |
|
|
Material Cost |
|
|||||
|
2.8 |
|
|
other |
|
|||||
|
9.2 |
|
|
total cost |
|
2,909,282 | ||||
|
68.8 |
3,668,821 |
69.7 |
[123 ]
|
|
[ 123] | ||||
| transport costs | the third quarter of 2019, the transportation cost 17.83 billion yuan, up 31.7 percentage. Single ticket transportation costs 0.65 yuan from the same period last year to 0.58 yuan. Decline in single-ticket transport costs, in addition to economies of scale continue to play a role, to expand the company’s own fleet size, sustained high purchasing capacity trailer, to enhance its own car usage, optimize trunk route planning, as well as refinement of the fleet and various management measures are on the steady improvement in the cost-effectiveness played a role in boosting. | distribution center costs | 2019 third quarter distribution center operating costs 9.78 billion yuan, up 27.8 percentage. Single ticket distribution costs decreased from the same period last year 0.37 yuan to 0.32 yuan. A further decline in the cost of a single ticket distribution company benefited from continued capacity building led to the continuous improvement of the degree of distribution center automation. As of the third quarter of 2019, a total of 208 sets of large / small pieces of automatic sorting equipment in distribution centers across the country to complete the installation and put into use, compared to the same period last year only automatic sorting equipment has 78 sets of small pieces Significantly improved. At the same time, the decline in the cost of a single ticket distributionAlso benefited from the distribution center of more rational and human resources to optimize the configuration, the average number of employees increased 16.7 percentage distribution center from a year earlier, much lower than the growth in business volume. | material costs | |||||
Other costs
the third quarter of 2019, other costs than the same period last year increased by 116 million to 504 million yuan, an increase of 29.8 percentage increase in the cost of other major from: 1) increased from direct customer traffic generated by fee-related costs increased 6,636 to send ten thousand yuan; 2) IT IT applications and R & D investment increased 5,787 million.
Gross profit
Gross profit for the third quarter of 2019, 1.597 billion yuan, 1.325 billion yuan a year earlier, an increase of 20.5 percentage.
after deducting the impact of cross-border business gross margin percentage was 31.8, down 1.6 percentage points from a year earlier. Gross margin decreased by growth in business volume, the combined effects of the decline in single-ticket revenue and enhance cost-effectiveness, in line with company expectations.
administrative expenses and other operating net income
the third quarter of 2019, administrative expenses 291 million yuan, 249 million yuan a year earlier, an increase of 16.6 percentage. After removing the impact of costs related to employee equity incentive and management fees accounted for operating income declined from a year earlier, 5.6 percentage 0.3 percentage points to 5.3 percentage, then fine management efficiency management and control costs reflected continued.
the third quarter of 2019. Other operating net income of 94.469 million yuan, of which 84.818 million from government subsidies and tax refunds.
operating profit
2019, operating profit for the third quarter was 1.401 billion yuan, 1.092 billion yuan a year earlier, an increase of 28.3 percentage.
and adjusted net profit after
2019 third quarter net profit of 1.308 billion yuan, an increase of 23.4 percentage of 1.059 billion yuan a year earlier. Adjusted net profit
2019 third quarter was 1.318 billion yuan, an increase of 24.6 percentage of 1.058 billion yuan a year earlier.
The basic and diluted earnings per share
2019 third quarter basic and diluted earnings per ADS were 1.67 yuan, compared to the same period last year, respectively 1.35 yuan and 1.34 yuan. After adjustment
2019 third quarter basic and diluted earnings per ADS were 1.69 yuan, compared to the same period last year were 1.35 yuan and 1.34 yuan.
Operating cash flow
2019 third-quarter net cash flow from operating activities was 1.418 billion yuan, compared to 912 million yuan a year earlier, an increase of 55.5 percentage .
in cash and short-term investments
As of September 30, 2019, cash and cash equivalents, restricted cash and short-term investments are held through to 16.36 billion yuan.
2019 third quarter operating highlights:
As of September 30, 2019, through courier distribution in the nearly 30,000 outlets nationwide, of which direct network partners more than 4,750 homes.
the number of long-haul freight trucks through courier of more than 6,600 vehicles, of which more than 5,700 the number of vehicles owned, the remaining nearly 900 trucks pass through Ze exclusive cooperation by the transport company operating Tonglu (Tonglu Tong Ze Department with a the trucking company). Wherein the vehicle body than about 3,950 units 15-17 m high capacity tractor.
main transport line between the distribution center through express more than 2,400.
through express distributed nationwide distribution center 89 in total, of which 80 Central through-self, associates the remaining nine franchisees.