Sign in

    Lu Jiang

    Research Analyst at Haitong International Securities Group Limited

    Lu Jiang serves as a Vice President and Equity Analyst at Haitong International Securities Group Limited, specializing in the coverage of healthcare and biopharmaceutical companies. Jiang is recognized for providing research coverage on firms such as HUTCHMED, with investment recommendations and insights followed by institutional clients. Beginning their career in equity research in the mid-2010s, Jiang joined Haitong International in 2019 after holding junior research roles at other financial institutions in Hong Kong. With a strong analytical background and relevant Hong Kong SFC licensing, Jiang has established a track record for thorough company analysis and accurate earnings modeling within the healthcare sector.

    Lu Jiang's questions to ZTO Express (Cayman) (ZTO) leadership

    Lu Jiang's questions to ZTO Express (Cayman) (ZTO) leadership • Q2 2024

    Question

    Lu Jiang questioned ZTO's capital expenditure plans for 2024, 2025, and the longer term, asking about investment allocation and how the company would manage its CapEx. A second question focused on future cost reduction plans across the entire operational process.

    Answer

    Chairman and CEO Meisong Lai, translated by Sophie Li, stated that major CapEx for building sorting centers is largely complete, with sufficient land reserves for future needs. Consequently, CapEx spending is expected to be stable or declining, leading to increased free cash flow for shareholder returns. For future cost reduction, Mr. Lai highlighted the 'tri-layer throughput' concept, which aims to reduce the number of sortations per parcel, thereby saving significant sorting and transportation costs.

    Ask Fintool Equity Research AI