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SEC filings, financial facts, source resources, and Goglides workspace context for ZTO Express (Cayman) Inc..
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ZTO Express reported 2025 revenue of CNY 49.10 billion, operating income of CNY 10.47 billion and operating cash flow of CNY 11.97 billion. The thesis turns on China parcel volume, pricing, network efficiency, cash conversion and ADR governance risk.
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