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Our fair value estimate is CNY 18.10 per share. We assume express parcel volume in China will grow at a 7% CAGR for 2024-28 and YTO’s volume to rise 8%.
YTO Express' 2024 Core ... ZTO also owned over 10,000 self-owned line-haul transportation vehicles versus 4,898 at STO, 5,301 at YTO, ... We assume express parcel volume in China will grow at a 8% ...