Stock Alert: ZTO Express Falls 11% As Earnings Tumble

(RTTNews) - Shares of are ZTO Express (Cayman) Inc. (ZTO) are losing more than 11 percent or $3.86 in Thursday's morning trade at $30.42 after the company reported a 46 percent plunge in profit for the first quarter from last year. The stock has traded in a range of $17.12 to $35.64 in the past 52 weeks.

ZTO Express is a provider of express delivery and other value-added logistics services in the People's Republic of China.

Wednesday, ZTO Express said its net income for the first quarter was RMB371.0 million, or $52.4 million, down 46 percent from RMB681.6 million in the year-ago period. Earnings per American depositary share decreased 45 percent to RMB0.48, or $0.07, from RMB0.87 in the prior-year quarter.

Adjusted earnings per American depositary share or ADS were RMB0.82, or $0.12, compared to RMB1.23 in the prior-year period. Revenues declined 14 percent to RMB3.92 billion, or $553.0 million, from RMB4.57 billion last year.

Looking ahead, ZTO Express said it is confident in delivering positive top and bottom-line growth for the entire year.