ZTO Express Reports 13.3% Volume Growth, Launches US$1.5B Buyback and Dividend
ZTO Express grew parcel volume by 4.5 billion shipments, a 13.3% rise, and delivered RMB9.5 billion in adjusted net income while operating cash flow reached RMB11.97 billion. The company approved a US$1.5 billion share repurchase program and declared a US$0.39 per ADS semi-annual dividend.
1. Full Year 2025 Financial Results
ZTO Express’s full-year revenue rose 10.9% to RMB49,098.7 million, while parcel volume increased by 4.5 billion shipments, a 13.3% gain. Net income reached RMB9,235.7 million, adjusted net income was RMB9,512.7 million (down 6.3%), and net cash from operations totaled RMB11,968.4 million.
2. Fourth Quarter 2025 Highlights
In Q4 2025 ZTO posted revenue of RMB14,510.7 million, a 12.3% increase, and gross profit of RMB3,681.9 million, down 2.1%. Net income rose 10.1% to RMB2,693.2 million, adjusted EBITDA was RMB4,241.5 million (down 8.1%), adjusted net income was RMB2,694.5 million (down 1.4%), ADS EPS was RMB3.31 (up over 11%), and operating cash flow was RMB4,226.3 million. Operationally, parcel volume reached 10,558 million shipments (9.2% growth), the network included over 31,000 outlets, 6,000 direct partners, 10,000 self-owned vehicles, and 93 sorting hubs.
3. Capital Return Initiatives
ZTO authorized a US$1.5 billion share repurchase program to buy back ADSs and declared a semi-annual dividend of US$0.39 per ADS, reinforcing its capital return strategy and signaling confidence in cash flow generation.