ZTO Express (Cayman), Inc. (NYSE:ZTO) Q2 2023 Earnings Call Transcript August 29, 2023 8:30 PM ET
Company Participants
Sophie Li - IR Director
Meisong Lai - Founder, Chairman & CEO
Huiping Yan - CFO
Conference Call Participants
Ronald Keung - Goldman Sachs
Qianlei Fan - Morgan Stanley
Thomas Chong - Jefferies
Operator
Good day, and welcome to the ZTO Express Second Quarter 2023 Financial Results Conference Call. [Operator Instructions]. Please note this event is being recorded.
I would now like to turn the conference over to Sophie Li, Company Secretary. Please go ahead.
Sophie Li
Thank you, operator. Hello, everyone, and thank you for joining us today. The company's results and investor relations presentation were released earlier today and are available on the company's IR website at ir.zto.com. On the call today from ZTO are Mr. Meisong Lai, Chairman and Chief Executive Officer, and Ms. Huiping Yan, Chief Financial Officer. Mr. Lai will give a brief overview of the company's business operations and highlights, followed by Ms. Yan, who will go through the financials and guidance.
They will both be available to answer your questions during the Q&A session that follows. I remind you that this call may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current market and operating conditions and related events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict in a manner of which are beyond the company's control, which may cause the company's actual results, performance or achievements to differ materially from those in the forward-looking statements.
Further information regarding this and other risks, uncertainties, and factors is included in the company's filings with the U.S. Securities and Exchange Commission. The company does not undertake any obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required under law.
It is now my pleasure to introduce Mr. Meisong Lai. Mr. Lai will read through his prepared remarks in their entirety in Chinese before I translate for him in English.
Meisong Lai
Hello, everyone. Thank you for joining today's conference call. In the second quarter of 2023, while maintaining a high level of service quality, ZTO grew its volume by 23.8% year-over-year with a total of RMB7.68 billion, further expanding our market share to 23.5%. Meanwhile, through enhanced revenue structure and process management, we improved overall operational efficiency and achieved an adjusted net profit of RMB2.53 billion, representing a 43.9% year-over-year growth. Relative to a pandemic affected low base of last year, the express delivery industry's overall parcel volume grew 20.9% in the second quarter of this year.