ZTO EXPRESS-W(02057): Adjusted net profit of 9.5 billion yuan for the full year, new authorized $1.5 billion share repurchase plan.

On March 18, ZTO EXPRESS-W(02057) announced its performance for the fourth quarter of 2025 and the whole year. The financial report showed that ZTO completed a business volume of 38.52 billion pieces in 2025, with a package volume increase of 4.5 billion pieces, an increase of 13.3% year-on-year, and an adjusted net profit of 9.5 billion yuan for the whole year. In the fourth quarter of 2025, ZTO's scattered pieces business volume reached an average of 9.8 million pieces per day, an increase of over 38% year-on-year. Combined with continuous cost reduction and efficiency improvement measures, ZTO's single ticket sorting and transportation costs decreased by 6% in 2025. The Board of Directors has approved the repurchase of shares totaling $1.5 billion within the next 24 months.