ZTO Express' Hong Kong shares hit six-month peak after solid Q1 results

ZTO Express (Cayman)

16/05/2024 05:11

** Hong Kong shares of express delivery services provider
ZTO Express (Cayman) Inc  2057.HK  jump 8.3% to HK$188, their
highest since Nov 16, and on course for a fifth consecutive
session of gains
    ** Stock posts biggest intraday pct rise since May 2022, and
is biggest pct gainer in Hang Seng Composite Index, which tracks
industrials  .HSCIIG 
    ** U.S.-listed shares of ZTO Express  ZTO.N  lost nearly 1%
on Wednesday
    ** ZTO says its Q1 parcel volume jumped 13.9% YoY to 7.2
billion, adjusted net income rose 15.8% YoY to 2.22 bln yuan 
($307.69 million) and revenue up 10.9% YoY at 9.96 bln yuan
    ** Co says it maintains its 15%-18% annual volume growth
forecast at between 34.73 billion and 35.64 billion parcels
    ** The  .HSCIIG  index slips 0.1%, Hang Seng Commerce &
Industry Index  .HSNC  adds 0.8% and Hang Seng Index  .HSI 
rises 1.7%
    ** Hong Kong-listed stock up 15% YTD, U.S. stock up 0.5% YTD
 
    ($1 = 7.2150 Chinese yuan)

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