China’s Express Couriers Deliver Rebound in Earnings

China’s express courier firms estimated bumper profits for the 2022 financial year, even as their business volume scaled more slowly due to the pandemic and the country’s strict “zero-Covid” policy.

China’s listed couriers have all published estimates of their 2022 earnings and each show marked increases in profits. Among the top performers are STO Express Co. Ltd. (SZ.002468), YTO Express Group Co. Ltd. (SH.600233), JD.com Inc.’s Deppon Logistics Co. Ltd. (SH.603056), and SF Holding Co. Ltd. (SZ.002352).