Zhongtong Express (ADR)
Runs China's parcel network through central sorting, line-haul transport and local delivery partners.
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Profile
Operates a Chinese express-delivery network built around centrally managed sorting and line-haul transport, with local partners handling pickup and last-mile delivery. Network-transit fees drive the business, while the Cayman holding structure and partner network make execution dependent on PRC rules and service control across local operators.
Provides express-delivery services across China through a network that combines centrally operated sorting hubs and line-haul transport with local partners handling pickup and last-mile delivery. Network-transit fees for sorting and line-haul services are the core revenue engine.
Dense transit infrastructure, digital waybills and centralized control points help move parcels across cities and counties. The model concentrates capital-intensive sorting and transport in the central network while extending the local footprint through thousands of partner-operated outlets.
Execution depends on coordinating network partners and enforcing service standards across locally run operations. The listed Cayman holding company conducts mainland operations through subsidiaries and a variable interest entity under PRC foreign-ownership restrictions, while founder Meisong Lai retains control through weighted voting rights.
Company facts
Categories
Key statistics
Year to date +0.2% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 8, 2026 | Macquarie | Reiterate | Outperform | $26.60 | $31.60 | |
| May 20, 2026 | Morgan Stanley | Target | $24.20 | $30.10 | ||
| Feb 8, 2026 | Macquarie | Target | $21.20 | $26.60 | ||
| May 29, 2025 | JP Morgan | Upgrade | Neutral | Overweight | ||
| May 22, 2025 | B of A Securities | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 18, 2026Q2 FY26 | $0.50 | $0.56 | +11.8% | $2.15B | $2.14B | −0.3% | −7.00% |
| May 19, 2026Q1 FY26 | $0.45 | $0.43 | −3.5% | $1.84B | $1.93B | +4.6% | −1.40% |
| Mar 17, 2026Q4 FY25 | $0.45 | $0.47 | +4.9% | $2.05B | $2.07B | +1.2% | +7.50% |
| Nov 19, 2025Q3 FY25 | $0.44 | $0.43 | −2.8% | $1.99B | $1.66B | −16.7% | −0.11% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.62B | $1.76B | $1.76B | $2.13B | $1.98B | $2.16B | |
| Gross profit | $400.1M | $438.1M | $437.5M | $540.3M | $481.4M | $553.9M | |
| Operating income | $357.9M | $368.3M | $343.9M | $445.8M | $371.1M | $471.3M | |
| Net income | $296.6M | $288.4M | $373.5M | $385.2M | $315.2M | $452.7M | |
| Diluted EPS | $0.36 | $0.35 | $0.46 | $0.49 | $0.40 | $0.57 | |
| Gross margin | 24.7% | 24.9% | 24.9% | 25.4% | 24.4% | 25.7% | |
| Operating margin | 22.1% | 20.9% | 19.6% | 20.9% | 18.8% | 21.8% |
Fiscal years (4-quarter sums)FY21 $4.52B · FY22 $5.26B · FY23 $5.72B · FY24 $6.59B · FY25 $7.27B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $4.67B · Total debt $3.28B · Total assets $14.70B · Shareholders' equity $9.47B
Dividends
Last raised to $0.39 from $0.30 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 8, 2026 | Apr 8 | Apr 29 | $0.39 | raised from $0.30 |
| Sep 30, 2025 | Sep 30 | Oct 31 | $0.30 | cut from $0.35 |
| Apr 10, 2025 | Apr 10 | Apr 29 | $0.35 | |
| Sep 10, 2024 | Sep 10 | Oct 18 | $0.35 | cut from $0.62 |
| Apr 9, 2024 | Apr 10 | Apr 29 | $0.62 | |
| Apr 5, 2023 | Apr 6 | Apr 28 | $0.37 | special dividend |
| Apr 7, 2022 | Apr 8 | Apr 26 | $0.25 | special dividend |
Ownership
Shares outstanding 792.05M · Float 785.21M · 99.1% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Pzena Investment Management LLC | 7.32M | 0.92% | 13F | Aug 7, 2026 |
| Goldman Sachs Group Inc | 5.29M | 0.67% | 13F | Aug 14, 2026 |
| Serenity Capital Management Pte. Ltd. | 5.06M | 0.64% | 13F | Aug 10, 2026 |
| Temasek Holdings (Private) Ltd | 4.15M | 0.52% | 13F | Aug 7, 2026 |
| Morgan Stanley | 4.13M | 0.52% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
Not reported.