(Yicai Global) Nov. 22 -- China's big five listed express delivery companies -- SF Holding Co. [SHE:002352], YTO Express Group Co. [SHA:600233], ZTO Express (Cayman) Inc. [NYSE:ZTO], STO Express Co. [SHE:002468] and Yunda Holding Co. [SHE:002120] -- have all released their third-quarter financials, and SF Holding's third-quarter net profit increased 14.6 percent annually to USD267 million (CNY1.762 billion), almost as much as those of the others combined, Lanjinger reported.
China's express delivery industry has maintained a high growth rate, the report said. Chinese express couriers delivered 27.39 billion parcels in the first three quarters of this year, up 29.8 percent annually, and achieved CNY342.5 billion in revenue, up 26.7 percent annually, per State Post Bureau data.
Research institutions are upbeat about the future development of the express delivery sector. The express delivery industry will go through a busy season in the fourth quarter, with higher demand, lower costs and a better business climate than a year ago, Huatai Securities Co. [SHA:601688] said in a research report.
Yunda, YTO, STO, and ZTO posted third-quarter net profits of CNY428 million, CNY365 million, CNY381 million and CNY717 million, marking increases of 34 percent, 13 percent, 26.5 percent and 31.1 percent, respectively.
Yunda, YTO, STO and ZTO reported revenues of CNY2.529 billion, CNY4.656 billion, CNY3.003 billion and CNY3.143 billion, up 35.9 percent, 17.3 percent, 26 percent and 33.5 percent, respectively. SF Holding's revenue grew 23.18 percent to CNY17.665 billion.