In 2024, after adjusting, ANE's profit is expected to increase by around 62.8%, leading the express delivery industry in high-quality growth!

On February 7, 2025, China's leading express delivery company ANE (09956) announced its financial results for the full year of 2024 with a profit surprise. The announcement shows that ANE expects its adjusted profit for 2024 to be no less than RMB 830 million, a significant increase of approximately 62.8% compared to 2023. Core performance indicators have shown a comprehensive increase, with a projected 16% year-on-year growth in operating income, a 44% year-on-year growth in gross profit, and significantly enhanced profitability, achieving stable and high-quality growth. Outstanding performance in multiple quarters has set a benchmark for high-quality growth in the industry. Since the strategic transformation in 2022, ANE has adhered to the strategy of focusing on "effective scale growth with equal emphasis on profit and quality," implementing the "five best" goals of "optimal cost, best quality, most stable timeliness, fastest service response, and most dense network coverage." Its operational efficiency and service quality have continuously improved, achieving double-digit growth in profit and volume for several consecutive quarters, laying a structural foundation for sustainable development in the future. In terms of product construction, ANE has further streamlined management, improved the efficiency of distribution centers and network operations, continuously reduced costs, and solidified its leading cost advantage. At the same time, it has promoted the innovative upgrade of the "3300" flagship product (for transporting goods in the 3-300 kg range), established the industry-leading "9996" standard for timeliness (with a 90% transit rate, 90% same-day receipt rate, and 96% real-time receipt rate), comprehensively enhancing service quality and timeliness, and continuously strengthening product competitiveness. In terms of network ecosystem construction, ANE focuses on "strengthening network points," upgrading network training systems and digital systems, establishing the "ANE Academy President's Class," introducing digital tools to improve collaborative efficiency, strengthening digital network points, and further enhancing network operational capabilities. By the end of 2024, ANE's national network points exceeded 33,000, ranking first in domestic joined express delivery networks, and the network continues to densify. Through the dual driving forces of "strengthening product strength" and "deepening channel cultivation," ANE's customer stickiness and market share are steadily increasing, continuously strengthening CKH HOLDINGS's sustainable profitability, and further consolidating its high-quality growth capabilities. Market concentration is accelerating, ANE seizes the first-mover advantage Currently, the Chinese express delivery industry has entered a stage of stock competition, and the market concentration is accelerating, with the pattern of "survival of the fittest" gradually becoming clear. Professional institutions predict that in the medium and long term, the price war based on scale supremacy is no longer appropriate, and future industry competition will focus on cost control, service quality, network coverage, and collaborative capabilities. With its industry-leading network density and standardized service capabilities, ANE has demonstrated resilience in a complex economic environment, and its sustainable, high-quality performance growth has laid a first-mover advantage for it, also gaining recognition from multiple institutions. CICC's latest report has raised its target price by 10% to HK$11, maintaining an "outperform industry" rating, optimistic about the company's continuous optimization of network ecology and product structure, and expecting profitable long-term growth; Industrial has a "hold" rating, believing that "ANE, the leading express delivery company in the joint freight industry, has entered a period of performance release with refined management." Against the background of industry transformation and intensified competition, ANE has presented a high-quality answer with strong strategic determination and execution. The robust growth in 2024 not only validates the correctness of its transformation path but also demonstrates the growth potential and leading significance of the industry leader. ANE is expected to continue leading in the express delivery race and usher in a new round of value growth cycle.