ZTO Express Reports Q3 2025 Parcel Volume Growth, Adjusted Net Income Rise

ZTO Express reported a 9.8% increase in parcel volume for Q3 2025, totaling 9.57 billion parcels, and a 5% YoY rise in adjusted net income to CNY 2.51 billion. The company revised its annual parcel volume guidance to 38.2 billion to 38.7 billion parcels, indicating a YoY growth of 12.3% to 13.8%. ZTO Express has demonstrated consistent revenue growth and robust margins, but there are concerns about efficiency challenges and potential overvaluation.