ZTO Express Q2 FY26 net income climbs 56.7% to RMB 3.08 billion; revenue rises 23% to RMB 14.55 billion
ZTO•Updated 2026 outlook
ZTO cut its 2026 parcel-volume growth outlook to 6%–10%, implying 40.8 billion to 42.4 billion parcels.
Parcel volume and pricing
Parcel volume increased 6.5% to 10,486 million, with core express parcel unit price up 15.5%.
Second-quarter results and margins
ZTO Express posted Q2 net income of RMB 3.08 billion, more than doubled from a year earlier, on revenue up 23% to RMB 14.55 billion.
- Adjusted net income (non-GAAP) climbed 50.3% to RMB 3.09 billion.
- Adjusted EBITDA (non-GAAP) rose 20% to RMB 4.24 billion.
- Gross margin widened 0.8 percentage points to 25.7%.
- Operating margin expanded 1.3 percentage points to 22.2%.
