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ZTO Reports Second Quarter 2026 Unaudited Financial Results 10.5 Billion Parcels Expanded Market Share to 19.9 % Adjusted Net Income Increased 50.3 % to RMB3.1 Billion SHANGHAI , Aug. 18 , 2026 / PRNewswire / -- ZTO Express ( Cayman ) Inc. ( NYSE : ZTO and SEHK : 2057 ) , a leading and fast - growing express delivery company in China ( " ZTO " or the " Company " ) , today announced its unaudited financial results for the second Quarter ended June 30 , 2026 [ 1 ] . The Company grew parcel volume by 6.5 % year over year while maintaining high quality of service and customer satisfaction . Adjusted net income increased 50.3 % [ 2 ] to RMB3.1 billion . Net cash generated from operating activities was RMB4.6 billion . Second Quarter 2026 Financial Highlights • Revenues were RMB14,549.9 million ( US $ 2,144.4 million ) , an increase of 23.0 % from RMB11,831.8 million in the same period of 2025 . • Gross profit was RMB3,733.3 million ( US $ 550.2 million ) , an increase of 26.8 % from RMB2,944.4 million in the same period of 2025 . • Net income was RMB3,077.6 million ( US $ 453.6 million ) , an increase of 56.7 % from RMB1,964.6 million in the same period of 2025 . ⋅ • Adjusted EBITDA [ 3 ] was RMB4,241.4 million ( US $ 625.1 million ) , an increase of 20.0 % from RMB3,534.9 million in the same period of 2025 . Adjusted net income was RMB3,086.1 million ( US $ 454.8 million ) , an increase of 50.3 % from RMB2,052.7 million in the same period of 2025 . • Basic and diluted net earnings per American depositary share ( " ADS " [ 4 ] ) were RMB3.99 ( US $ 0.59 ) and RMB3.78 ( US $ 0.56 ) , an increase of 64.9 % and 59.5 % from RMB2.42 and RMB2.37 in the same period of 2025 , respectively . • Adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders [ 5 ] were RMB4.00 ( US $ 0.59 ) and RMB3.79 ( US $ 0.56 ) , an increase of 58.1 % and 52.8 % from RMB2.53 and RMB2.48 in the same period of 2025 respectively . • Net cash provided by operating activities was RMB4,563.6 million ( US $ 672.6 million ) , compared with RMB2,168.2 million in the same period of 2025 . Operational Highlights for Second Quarter 2026 . Parcel volume was 10,486 million , increased 6.5 % from 9,847 million in the same period of 2025 . • Number of pickup / delivery outlets was over 31,000 as of June 30 , 2026 . • Number of direct network partners was approximately 6,000 as of June 30 , 2026 . • Number of self - owned line - haul vehicles was over 10,000 as of June 30 , 2026 . • Number of line - haul routes between sorting hubs was over 3,600 as of June 30 , 2026 . • Number of sorting hubs was 92 as of June 30 , 2026 , among which 87 are operated by the Company and 5 by the Company's network partners . [ 1 ] An investor relations presentation accompanies this earnings release and can be found at http://zto.investorroom.com . [ 2 ] Adjusted net income is a non - GAAP financial measure , which is defined as net income before share - based compensation expense and non - recurring items such as impairment of Goodwill , impairment of investments in equity investees , gain / ( loss ) on disposal of equity investment and subsidiary and corresponding tax impact which management aims to better represent the underlying business operations . [ 3 ] Adjusted EBITDA is a non - GAAP financial measure , which is defined as net income before depreciation , amortization , interest expenses and income tax expenses , and further adjusted to exclude the shared - based compensation expense and non - recurring items such as impairment of Goodwill , impairment of investments in equity investees , gain / ( loss ) on disposal of equity investment and subsidiary which management aims to better represent the underlying business operations . [ 4 ] One ADS represents one Class A ordinary share . [ 5 ] Adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders is a non - GAAP financial measure . It is defined as adjusted net income attributable to ordinary shareholders divided by weighted average number of basic and diluted American depositary shares , respectively . Mr. Meisong Lai , Founder , Chairman and Chief Executive Officer of ZTO , commented , " In the second quarter of 2026 , ZTO remained focused on elevating service quality and customer experience , improving operational efficiency , and fostering fair , transparent network policies . We handled a total parcel volume of 10.5 billion , representing a 6.5 % year - over - year increase , outpacing the industry average by 2.3 percentage points . Adjusted net income reached RMB 3.1 billion . Daily average retail parcel volume continued to grow faster than traditional e - commerce parcel volumes . This structural shift boosted parcel volumes while enhancing overall profit margins . " Mr. Lai added , " China's express - delivery industry continued to benefit from regulatory guidance , with broad - based profit expansion marking a shift in priorities toward value - driven development alongside volume growth . ZTO's Quality - First commitment and consistent performance are backed by our industry - leading operational efficiency and fairness - oriented network governance . Deep - rooted in our Shared - Success philosophy and practices , we enable and support improved returns for our network partners and couriers , while delivering sound profitability for the company . Supported by constructive regulatory guidance and our competitive advantages - including advancing digital - technology capabilities and nurtured trust and cohesiveness across our franchise partner network - we are well positioned to navigate industry and economic cycles . " Ms. Huiping Yan , Chief Financial Officer of ZTO , commented , " For the second quarter this year , our core express ASP rose 15.5 % in the second quarter , supported by an improved revenue mix driven by higher - value key - account volumes , including rapidly expanding reverse - logistics business . Despite cost pressures stemming from oil - price volatility , combined unit sorting and transportation costs decreased by 2 cents , thanks to digitization and lean operations . SG & A , excluding SBC , represented approximately 3.8 % of revenue , compared with 5.2 % in the same period last year . Operating cash flow was RMB 4.6 billion , while capital expenditure totaled RMB 952 million . " Ms. Yan added , " ZTO's long - standing profitable - growth strategy remains effective amid today's subdued growth environment . Our steady market - share gains are bolstered by sustained government efforts against involution , as well as our ongoing focus on the stability of our unique franchise - partner network , which thrives on the equitable allocation of risks and rewards . We intend to further solidify our volume leadership . Considering evolving market dynamics and slowing industry parcel - volume growth for the full year , we have updated our annual parcel - volume growth guidance to 6-10 % year - over- year . "