ZTO Express is set to report its 3Q23 results on November 16th, with expectations of neutral performance due to its strong correlation with the currently sluggish Chinese e-commerce sector. 

However, the long-term outlook for ZTO remains positive, bolstered by the entry of new major players in China's e-commerce market, such as ByteDance, Kuaishou, and XiaoHongShu, all requiring logistics services. 

ZTO, being a top choice, is likely to gain more orders and increase its market share. 

The overall recovery of China's economy is expected to benefit both e-commerce and logistics sectors. 

In 3Q23, the express parcel volume in China grew by 16.7% year-over-year, with ZTO's parcel volume expected to increase by 21.9% year-over-year to 7,760M. 

ZTO's market share has also seen a slight increase, reaching an estimated 24.0% in 3Q23, up from 23.5% in 2Q23, outperforming its competitors in both service quality and market share growth.