ZTO Express Q1 FY26 net income rises 5.7% to RMB 2.16 billion; revenue climbs 22% to RMB 13.28 billion

• ZTO Express posted first-quarter revenue of RMB 13.28 billion, up 22% year over year, while net income rose 5.7% to RMB 2.16 billion.
• Operating income climbed 5.8% to RMB 2.55 billion, while operating margin narrowed 2.9 percentage points to 19.2%.
• Parcel volume increased 13.2% to 9,668 million, outpacing the industry average by 7.4 percentage points.
• The board launched a new share repurchase program of up to USD 1.5 billion over 24 months, running from March 20, 2026 through March 20, 2028.
• Management reiterated 2026 parcel volume growth guidance of 10%-13%, implying 42.37 billion to 43.52 billion parcels.

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