China's ZTO Express Hong Kong shares hit 15-month peak after strong Q1

ZTO Express (Cayman)

18/05/2023 06:30

** Shares of express delivery services group ZTO Express
(Cayman) Inc  2057.HK  jump as much as 7.4% to HK235.20, highest
since February 2022 
    ** Stock on track to snap two straight sessions of decline,
if gains hold
    ** Stock is the biggest pct gainer in Hang Seng Composite
Index on industrials stocks  .HSCIIG  and fifth biggest in Hang
Seng Composite Index  .HSCI  
    ** Shanghai-based company says Q1 revenue rose 13.7% YoY to
8.98 bln yuan ($1.3 bln) and adjusted net income soared 82.1%
YoY to 1.92 bln yuan with parcel volume up 20.5% YoY at 6.3
billion  
    ** ZTO, with current market value of $24.49 bln, says it is
is confident of achieving at least 1.5 percentage point increase
in volume market share for entire year
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.1%
and Hang Seng Composite Index on industrials stocks  .HSCIIG 
surges 1.2%
    ** Hang Seng Composite Index  .HSCI  gains 0.8% and Hang
Seng Index  .HSI  climbs 1%
    ** As of last close, stock gained 4.8% this year

($1 = 6.9121 Chinese yuan renminbi)

($1 = 7.8489 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))