HK Stock Market Move | ZTO EXPRESS-W(02057) rose more than 4% in intraday trading, single-ticket revenue of Tongda system increased compared to the previous month, institutions optimistic about industry performance in October peak season.

ZTO EXPRESS-W (02057) rose more than 4% during trading hours, as of the time of writing, it rose by 3.93% to 148.2 Hong Kong dollars, with a trading volume of 1.85 billion Hong Kong dollars. On the news front, several express delivery companies have released their monthly reports for September. YTO Express Group completed 2.627 billion items in September, a year-on-year increase of 13.64%, with a single ticket income of 2.21 yuan, a year-on-year increase of 1.09%; STO Express Co., Ltd. completed 2.187 billion items in September, a year-on-year increase of 9.46%, with a single ticket income of 2.12 yuan, a year-on-year increase of 4.95%; YUNDA Holding Group completed 2.10 billion items in September, a year-on-year increase of 3.63%, with a single ticket income of 2.02 yuan, a year-on-year increase of 0.50%. Huachuang Securities believes that the increase in single ticket income for the three companies in the Tongda series in September compared to July is: Shentong increased by 0.15 yuan, Yuantong increased by 0.13 yuan, and Yunda increased by 0.11 yuan. From the perspective of single ticket income in August-September, it has verified the logic of industry price increase, and it is expected to further perform well with the arrival of the peak season in October. Shenwan Hongyuan Group pointed out that it is expected that express delivery companies will preliminarily realize the profit recovery brought by the price increase in the third quarter and pay attention to the profit elasticity in the fourth quarter. According to the monthly operating reports of express delivery companies, in July, the single ticket income of express delivery companies was relatively low, generally at a lower level within the year, and it improved month by month in August-September under the push-back against internal competition. The bank believes that express delivery companies will preliminarily realize the profit recovery brought by the price increase in the third quarter and continue to focus on the profit elasticity in the fourth quarter.