China courier ZTO Express sees revenue, profit surge in 2019

GUANGZHOU - Chinese courier giant ZTO Express said Tuesday its revenue in 2019 was 22.11 billion yuan ($3.16 billion), up 25.6 percent year-on-year.

The company's net profit reached 5.67 billion yuan, surging 29.2 percent year-on-year, the report showed.

Excluding cross-border operations, the company's revenue from each unit was 1.72 yuan, down 10.1 percent year-on-year. The company attributed the drop to a high level of subsidies that it had maintained in the face of market competition.

Last year, ZTO Express handled 10 billion parcels by Nov 12, a day after China's Nov 11 shopping bonanza.