STO Express Co Ltd Class A

002468: XSHE (CHN)
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STO Express Earnings: Raise Fair Value 8% as ASP Recovery and Volume Growth Drive Earnings Revision

STO Express' first-quarter core EBIT surged 91% year on year, outperforming Yunda's 39% and YTO Express' 59%, mainly supported by a government-led, nationwide price hike. Revenue grew 31% on a 14% rise in parcel volume. STO's first-quarter parcel volume share rose to 13.9% from 13.5% sequentially.

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