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ZTO Reports First Quarter 2026 Unaudited Financial Results

9.7 Billion Parcel Volume Grew 7.4 Points Faster than Industry Average
Adjusted Net Income Increased 5.2% to RMB2.4 Billion

SHANGHAI, May 20, 2026 /PRNewswire/ — ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057), a leading and fast-growing express delivery company in China (“ZTO” or the “Company”), today announced its unaudited financial results for the first quarter ended March 31, 2026[1]. The Company grew parcel volume by 13.2% year over year while maintaining high quality of service and customer satisfaction. Adjusted net income increased 5.2%[2] to RMB2.4 billion. Net cash generated from operating activities was RMB2.8 billion.

First Quarter 2026 Financial Highlights

  • Revenues were RMB13,282.4 million (US$1,925.5 million), an increase of 22.0% from RMB10,891.5 million in the same period of 2025.
  • Gross profit was RMB3,235.2 million (US$469.0 million), an increase of 20.3% from RMB2,689.2 million in the same period of 2025.
  • Net income was RMB2,156.4 million (US$312.6 million), an increase of 5.7% from RMB2,039.2 million in the same period of 2025.
  • Adjusted EBITDA[3] was RMB3,941.3 million (US$571.4 million), an increase of 6.9% from RMB3,686.7 million in the same period of 2025.
  • Adjusted net income was RMB2,377.1 million (US$344.6 million), an increase of 5.2% from RMB2,259.3 million in the same period of 2025.
  • Basic and diluted net earnings per American depositary share (“ADS”[4]) were RMB2.73 (US$0.40) and RMB2.68 (US$0.39), an increase of 9.2% and 9.8% from RMB2.50 and RMB2.44 in the same period of 2025, respectively.
  • Adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders[5] were RMB3.01 (US$0.44) and RMB2.95 (US$0.43), an increase of 8.7% and 8.9% from RMB2.77 and RMB2.71 in the same period of 2025 respectively.
  • Net cash provided by operating activities was RMB2,789.0 million (US$404.3 million), compared with RMB2,363.0 million in the same period of 2025.

Operational Highlights for First Quarter 2026

  • Parcel volume was 9,668 million, increased 13.2% from 8,539 million in the same period of 2025.
  • Number of pickup/delivery outlets was over 31,000 as of March 31, 2026.
  • Number of direct network partners was approximately 6,000 as of March 31, 2026.
  • Number of self-owned line-haul vehicles was over 10,000 as of March 31, 2026.
  • Number of line-haul routes between sorting hubs was approximately 3,800 as of March 31, 2026.
  • Number of sorting hubs was 93 as of March 31, 2026, among which 88 are operated by the Company and 5 by the Company’s network partners.

[1] An investor relations presentation accompanies this earnings release and can be found at http://zto.investorroom.com.

[2] Adjusted net income is a non-GAAP financial measure, which is defined as net income before share-based compensation expense and non-recurring items such as impairment of investments in equity investees, gain/(loss) on disposal of equity investment and subsidiary and corresponding tax impact which management aims to better represent the underlying business operations.

[3] Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income before depreciation, amortization, interest expenses and income tax expenses, and further adjusted to exclude the shared-based compensation expense and non-recurring items such as impairment of investments in equity investees, gain/(loss) on disposal of equity investment and subsidiary which management aims to better represent the underlying business operations.

[4] One ADS represents one Class A ordinary share.

[5] Adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders is a non-GAAP financial measure. It is defined as adjusted net income attributable to ordinary shareholders divided by weighted average number of basic and diluted American depositary shares, respectively.

Mr. Meisong Lai, Founder, Chairman and Chief Executive Officer of ZTO, commented, “During the first quarter of 2026, ZTO maintained focus on quality of services and customer satisfaction, and well executed our key strategies to improve operating cost efficiencies and strengthening network pricing policy fairness and transparency. Our parcel volume reached 9.7 billion, which grew 13.2%, or 7.4 points above industry average, mainly attributable to strong key accounts growth. Our adjusted net income was 2.4 billion, as the daily average retail volume continued to expand at a faster rate than traditional ecommerce volume resulting in improved revenue structure that not only contributed to volume increase as well as positive contribution to overall margin.”

Mr. Lai added, “China’s express delivery industry is benefiting from the lasting effect of the anti-involution policy. It is well demonstrated by this quarter’s industry-wide profit expansion, some faster than its volume growth, that there was an increasing focus on quality growth. ZTO’s Quality-First strategy is consistent with regulatory attention as our operating efficiency continues to lead the industry and our effort to drive fairness and transparency across the entire network has generated positive impact on sustainable long-term growth. Shared-Success is never meant to be a corporate slogan, and our work in being fair and supportive of our partners never ends especially given the depth and width of our network footprint. By relying on digitization and diligent follow-through, we are seeing better alignment of strategy consensus and execution cohesiveness from headquarter to the furthest-reached outlets.”

Ms. Huiping Yan, Chief Financial Officer of ZTO, commented, “For the first quarter, ZTO’s core express ASP increased 8.2%, driven by a favorable mix-shift towards key accounts, which included fast-growing reverse logistics volume, and its positive impact more than offset the per unit increase in volume incentives. Combined unit sorting and transportation costs decreased 6 cents, driven largely by volume-leveraged productivity gain. SG&A excluding SBC as a percentage of revenue improved to approximately 4.5% compared to 4.7% in the same period last year. Cash flow from operating activities was 2.8 billion, and capital spending was 1.8 billion.”

Ms. Yan added, “The sustainable growth strategy we focused on throughout the years is equally effective during economic stabilization and recovery. Our unique partner-franchise model requires fine tuning from time to time to maintain equitable sharing of the cost and profit. Our volume growth against industry deceleration came from the consistency of anti-involution policy as well as our initiatives to drive reasonable profit allocation for everyone under the ZTO brand. We aim to strengthen our volume leadership, and we are maintaining our annual parcel growth guidance at 10-13% over last year.”

First Quarter 2026 Unaudited Financial Results

Three Months Ended March 31,

2025

2026

RMB

%

RMB

US$

%

(in thousands, except percentages)

Express delivery services

10,122,290

92.9

12,523,779

1,815,567

94.3

Freight forwarding services

179,219

1.7

155,910

22,602

1.2

Sale of accessories

560,297

5.1

577,675

83,745

4.3

Others

29,659

0.3

25,000

3,624

0.2

Total revenues

10,891,465

100.0

13,282,364

1,925,538

100.0

Total Revenues were RMB13,282.4 million (US$1,925.5 million), increased 22.0% from RMB10,891.5 million in the same period of 2025. Revenue from the core express delivery business increased by 22.5% compared to the same period of 2025 as a result of a 13.2% growth in parcel volume and an 8.2% increase in parcel unit price. Key account revenue, generated by direct sales organizations, increased by 92.2% mainly driven by increase in e-commerce return parcels. Revenue from freight forwarding services decreased by 13.0% compared to the same period of 2025. Revenue from sales of accessories, largely consisted of sales of thermal paper for digital waybills, increased by 3.1%. Other revenues were mainly derived from financing services.

Three Months Ended March 31,

2025

2026

RMB

%

RMB

US$

%

(in thousands, except percentages)

Line-haul transportation cost

3,483,065

32.0

3,530,168

511,767

26.6

Sorting hub operating cost

2,314,595

21.3

2,454,271

355,795

18.5

Freight forwarding cost

172,792

1.6

154,265

22,364

1.2

Cost of accessories sold

133,259

1.2

127,589

18,497

1.0

Other costs

2,098,534

19.2

3,780,850

548,107

28.3

Total cost of revenues

8,202,245

75.3

10,047,143

1,456,530

75.6

Total cost of revenues was RMB10,047.1 million (US$1,456.5 million), an increase of 22.5% from RMB8,202.2 million in the same period last year.

Line-haul transportation cost was RMB3,530.2 million (US$511.8 million), increased 1.4% from RMB3,483.1 million in the same period last year. The unit transportation cost decreased 9.8% or 4 cents mainly attributable to better economies of scale and improved load rate through more effective route planning.

Sorting hub operating cost was RMB2,454.3 million (US$355.8 million), increased 6.0% from RMB2,314.6 million in the same period last year. The increase primarily consisted of (i) RMB74.3 million (US$10.8 million) increase in labor-associated costs partially offset by automation-driven efficiency improvements, and (ii) RMB43.1 million (US$6.3 million) increase in depreciation and amortization costs associated with automation facilities and equipment upgrades. As of March 31, 2026, there were 780 sets of automated sorting equipment in service, compared to 631 sets as of March 31, 2025.

Cost of accessories sold was RMB127.6 million (US$18.5 million), decreased by 4.3% compared with RMB133.3 million in the same period last year.

Other costs were RMB3,780.9 million (US$548.1 million), increased 80.2% from RMB2,098.5 million in the same period last year, which was mainly attributable to an increase of RMB1,711.3 million (US$248.1 million) for pickup and dispatching costs paid to network partners associated with serving key account customers.

Gross Profit was RMB3,235.2 million (US$469.0 million), increased by 20.3% from RMB2,689.2 million in the same period last year. Gross margin rate was 24.4% compared to 24.7% in the same period last year.

Total Operating Expenses were RMB690.0 million (US$100.0 million), compared to RMB283.8 million in the same period last year.

Selling, general and administrative expenses were RMB815.7 million (US$118.2 million), increased by 10.6% from RMB737.5 million in the same period last year, mainly due to (i) RMB64.0 million (US$9.3 million) increase in compensation and benefit expenses, and (ii) RMB11.4 million (US$1.6 million) increase in depreciation and amortization costs associated with administrative facilities and equipment.

Other operating income, net was RMB125.7 million (US$18.2 million), compared to RMB453.7 million in the same period last year. Other operating income mainly consisted of (i) RMB80.9 million (US$11.7 million) of government subsidies and tax rebates, and (ii) RMB51.4 million (US$7.5 million) of rental income.

Income from operations was RMB2,545.3 million (US$369.0 million), increased 5.8% from RMB2,405.4 million for the same period last year. The operating margin rate was 19.2% compared to 22.1% in the same period last year.

Interest income was RMB165.9 million (US$24.1 million), compared with RMB198.4 million in the same period last year.

Interest expenses was RMB50.3 million (US$7.3 million), compared with RMB68.9 million in the same period last year.

Gain from fair value changes of financial instruments was RMB54.9 million (US$8.0 million), compared with a gain of RMB36.6 million in the same period last year. Such gain or loss from fair value changes of the financial instruments is quoted by commercial banks according to market-based estimation of future redemption prices.

Income tax expenses were RMB552.2 million (US$80.0 million) compared to RMB531.6 million in the same period last year. Overall income tax rate was 20.5%, decreased by 0.2 percentage points year over year.

Net income was RMB2,156.4 million (US$312.6 million), which increased by 5.7% increase from RMB2,039.2 million in the same period last year.

Basic and diluted earnings per ADS attributable to ordinary shareholders were RMB2.73 (US$0.40) and RMB2.68 (US$0.39), compared to basic and diluted earnings per ADS of RMB2.50 and RMB2.44 in the same period last year, respectively.

Adjusted basic and diluted earnings per ADS attributable to ordinary shareholders were RMB3.01 (US$0.44) and RMB2.95 (US$0.43), compared with RMB2.77 and RMB2.71 in the same period last year, respectively.

Adjusted net income was RMB2,377.1 million (US$344.6 million), compared with RMB2,259.3 million during the same period last year.

EBITDA[1] was RMB3,720.7 million (US$539.4 million), compared with RMB3,466.6 million in the same period last year.

Adjusted EBITDA was RMB3,941.3 million (US$571.4 million), compared to RMB3,686.7 million in the same period last year.

Net cash provided by operating activities was RMB2,789.0 million (US$404.3 million), compared with RMB2,363.0 million in the same period last year.

[1] EBITDA is a non-GAAP financial measure, which is defined as net income before depreciation, amortization, interest expenses and income tax expenses which management aims to better represent the underlying business operations.

Resignation of Non-Executive Director and Termination of Investor Rights Agreement

The Board announces that Ms. Di XU has tendered her resignation as a non-executive director of the Company, with effect from May 20, 2026 given the recent termination of the investor rights agreement entered by and among the Company, the Company’s founders and subsidiaries of Alibaba Group Holdings Limited in June 2018. Ms. Xu has confirmed that (i) she has no disagreement with the board of directors of the Company (the “Board”) and (ii) there is no matter in respect of her resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong. The Board would like to take this opportunity to express its gratitude to Ms. Xu for her valuable contribution to the Company during her tenure.

Company Share Repurchase Program

The Board has approved a new share repurchase program in March 2026, authorizing the repurchase of up to US$1.5 billion of its shares over the next 24 months, effective from March 20, 2026, through March 20, 2028. The Company expects to fund these repurchases utilizing its existing cash balance.

Business Outlook

Based on current market and operating conditions, the Company reiterates that its parcel volume for 2026 is expected to increase by 10% to 13% year over year, representing a parcel volume range of 42.37 billion to 43.52 billion. Such estimates represent management’s current and preliminary view, which are subject to change.

Exchange Rate

This announcement contains translation of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at the exchange rate of RMB6.898 to US$1.00, the noon buying rate on March 31, 2026 as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve Systems.

Use of Non-GAAP Financial Measures

The Company uses EBITDA, adjusted EBITDA, adjusted net income, adjusted net income attributable to ordinary shareholders, and adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders, each a non-GAAP financial measure, in evaluating ZTO’s operating results and for financial and operational decision-making purposes.

Reconciliations of the Company’s non-GAAP financial measures to its U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures.

The Company believes that such non-GAAP measures help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of the related expenses and gains that the Company includes in income from operations and net income, and provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

EBITDA, adjusted EBITDA, adjusted net income, adjusted net income attributable to ordinary shareholders and adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders should not be considered in isolation or construed as an alternative to net income or any other measure of performance or as an indicator of the Company’s operating performance. Investors are encouraged to compare the historical non-GAAP financial measures to the most directly comparable GAAP measures. EBITDA, adjusted EBITDA, adjusted net income, adjusted net income attributable to ordinary shareholders and adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to ZTO’s data. ZTO encourages investors and others to review the Company’s financial information in its entirety and not rely on a single financial measure.

Conference Call Information

ZTO’s management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Tuesday, May 19, 2026 (8:30 AM Beijing Time on Wednesday, May 20, 2026).

Dial-in details for the earnings conference call are as follows:

United States:

1-888-317-6003

Hong Kong:

800-963-976

Mainland China:

4001-206-115

International:

1-412-317-6061

Passcode:

2836360

Please dial in 15 minutes before the call is scheduled to begin and provide the passcode to join the call.

A replay of the conference call may be accessed by phone at the following numbers until May 25, 2026:

United States:

1-855-669-9658

International:

1-412-317-0088

Passcode:

1895291

Additionally, a live and archived webcast of the conference call will be available at http://zto.investorroom.com

About ZTO Express (Cayman) Inc.

ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK:2057) (“ZTO” or the “Company”) is a leading and fast-growing express delivery company in China. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network coverage in China.

ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in China. The Company leverages its network partners to provide pickup and last-mile delivery services, while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain.

For more information, please visit http://zto.investorroom.com

Safe Harbor Statement

This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and other similar expressions. Among other things, the business outlook and quotations from management in this announcement contain forward-looking statements. ZTO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the HKEX, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about ZTO’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to  differ  materially  from  those  contained  in  any  forward-looking  statement,  including  but  not  limited  to  the  following:  risks  relating  to  the development of the e-commerce and express delivery industries in China; its significant reliance on certain third-party e-commerce platforms; risks associated with its network partners and their employees and personnel; intense competition which could adversely affect the Company’s results of operations and market share; any service disruption of the Company’s sorting hubs or the outlets operated by its network partners or its technology system; ZTO’s ability to build its brand and withstand negative publicity, or other favorable government policies. Further information regarding these and other risks is included in ZTO’s filings with the SEC and the HKEX. All information provided in this announcement is as of the date of this announcement, and ZTO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

UNAUDITED CONSOLIDATED FINANCIAL DATA

Summary of Unaudited Consolidated Comprehensive Income Data:

Three Months Ended March 31,

2025

2026

RMB

RMB

US$

(in thousands, except for share and per share data)

Revenues

10,891,465

13,282,364

1,925,538

Cost of revenues

(8,202,245)

(10,047,143)

(1,456,530)

Gross profit

2,689,220

3,235,221

469,008

Operating (expenses)/income:

Selling, general and administrative

(737,511)

(815,664)

(118,246)

Other operating income, net

453,669

125,711

18,224

Total operating expenses

(283,842)

(689,953)

(100,022)

Income from operations

2,405,378

2,545,268

368,986

Other income/(expenses):

Interest income

198,392

165,945

24,057

Interest expense

(68,876)

(50,272)

(7,288)

Gain from fair value changes of financial instruments

36,613

54,944

7,965

Gain on disposal of equity investees, subsidiary and others

147

478

69

Foreign currency exchange loss before tax

(4,044)

(28,834)

(4,180)

Income before income tax, and share of income in equity method investments

2,567,610

2,687,529

389,609

Income tax expense

(531,574)

(552,180)

(80,049)

Share of income in equity method investments

3,145

21,007

3,045

Net income

2,039,181

2,156,356

312,605

Net income attributable to non-controlling interests

(45,934)

(38,023)

(5,512)

Net income attributable to ZTO Express (Cayman) Inc.

1,993,247

2,118,333

307,093

Net income attributable to ordinary shareholders

1,993,247

2,118,333

307,093

Net earnings per share attributed to ordinary shareholders

Basic

2.50

2.73

0.40

Diluted

2.44

2.68

0.39

Weighted average shares used in calculating net earnings per ordinary share/ADS

Basic

798,486,427

776,158,342

776,158,342

Diluted

832,052,527

798,341,566

798,341,566

Net income

2,039,181

2,156,356

312,605

Other comprehensive income/(expense) ,net of tax of nil:

Foreign currency translation adjustment

8,701

(9,922)

(1,438)

Comprehensive income

2,047,882

2,146,434

311,167

Comprehensive income attributable to non-controlling interests

(45,934)

(38,023)

(5,512)

Comprehensive income attributable to ZTO Express (Cayman) Inc.

2,001,948

2,108,411

305,655

Unaudited Consolidated Balance Sheets Data:

As of

December 31,

March 31,

2025

2026

RMB

RMB

US$

(in thousands, except for share data)

ASSETS

Current assets:

Cash and cash equivalents

10,011,533

11,406,935

1,653,658

Restricted cash

29,129

29,129

4,223

Accounts receivable, net

1,287,475

1,264,820

183,360

Financing receivables

674,880

532,466

77,191

Short-term investment

15,620,892

19,079,372

2,765,928

Inventories

40,648

39,042

5,660

Advances to suppliers

719,277

743,940

107,849

Prepayments and other current assets

5,102,997

5,250,750

761,199

Amounts due from related parties

477,865

506,822

73,474

Total current assets

33,964,696

38,853,276

5,632,542

Investments in equity investees

1,951,910

2,164,047

313,721

Property and equipment, net

35,433,509

36,233,881

5,252,810

Land use rights, net

6,762,240

6,875,348

996,716

Intangible assets, net

52,758

45,466

6,591

Operating lease right-of-use assets

398,082

331,050

47,992

Goodwill

4,157,111

4,157,111

602,655

Deferred tax assets

1,103,655

1,191,798

172,774

Long-term investment

5,221,110

6,292,110

912,164

Long-term financing receivables

1,039,946

989,488

143,446

Other non-current assets

938,980

645,036

93,511

TOTAL ASSETS

91,023,997

97,778,611

14,174,922

LIABILITIES AND EQUITY

Current liabilities

Short-term bank borrowing

10,934,419

11,089,280

1,607,608

Accounts payable

2,577,229

2,420,258

350,864

Advances from customers

1,833,131

1,717,342

248,962

Income tax payable

279,541

287,950

41,744

Amounts due to related parties

796,660

92,221

13,369

Operating lease liabilities

139,787

120,382

17,452

Dividends payable

19,659

2,085,103

302,276

Other current liabilities

6,288,714

5,876,810

851,958

Total current liabilities

22,869,140

23,689,346

3,434,233

Long-term bank borrowing

18,000

17,000

2,464

Non-current operating lease liabilities

261,257

218,721

31,708

Deferred tax liabilities

615,073

628,469

91,109

Convertible senior bond

124,114

10,347,781

1,500,113

TOTAL LIABILITIES

23,887,584

34,901,317

5,059,627

Shareholders’ equity

    Ordinary shares (US$0.0001 par value; 10,000,000,000 shares authorized;
    795,528,169 shares issued and 790,812,316 shares outstanding as of December
    31, 2025; 769,900,693 shares issued and 766,482,022 shares outstanding
    as of March 31, 2026)

513

495

72

Additional paid-in capital

24,000,698

22,795,854

3,304,705

Treasury shares, at cost

(254,480)

(245,970)

(35,658)

Retained earnings

42,918,864

39,859,455

5,778,408

Accumulated other comprehensive loss

(281,266)

(291,188)

(42,213)

ZTO Express (Cayman) Inc. shareholders’ equity

66,384,329

62,118,646

9,005,314

Non-controlling interests

752,084

758,648

109,981

Total Equity

67,136,413

62,877,294

9,115,295

TOTAL LIABILITIES AND EQUITY

91,023,997

97,778,611

14,174,922

Summary of Unaudited Consolidated Cash Flow Data:

Three Months Ended March 31,

2025

2026

RMB

RMB

US$

(in thousands)

Net cash provided by operating activities

2,362,976

2,789,045

404,327

Net cash used in investing activities

(3,158,465)

(7,174,549)

(1,040,091)

Net cash (used in)/provided by financing activities

(261,091)

5,831,073

845,328

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(12,560)

(50,167)

(7,273)

Net (decrease)/increase in cash, cash equivalents and restricted cash

(1,069,140)

1,395,402

202,291

Cash, cash equivalents and restricted cash at beginning of period

13,530,947

10,046,717

1,456,468

Cash, cash equivalents and restricted cash at end of period

12,461,807

11,442,119

1,658,759

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows:

As of

December 31,

March 31,

2025

2026

RMB

RMB

US$

(in thousands)

Cash and cash equivalents

10,011,533

11,406,935

1,653,658

Restricted cash, current

29,129

29,129

4,223

Restricted cash, non-current

6,055

6,055

878

Total cash, cash equivalents and restricted cash

10,046,717

11,442,119

1,658,759

Reconciliations of GAAP and Non-GAAP Results

Three Months Ended March 31,

2025

2026

RMB

RMB

US$

(in thousands, except for share and per share data)

Net income

2,039,181

2,156,356

312,605

Add:

Share-based compensation expense (1)

220,269

221,119

32,056

Gain on disposal of equity investees and subsidiary, net of income taxes

(121)

(395)

(57)

Adjusted net income

2,259,329

2,377,080

344,604

Net income

2,039,181

2,156,356

312,605

Add:

Depreciation

789,108

912,649

132,306

Amortization

37,819

49,211

7,134

Interest expenses

68,876

50,272

7,288

Income tax expenses

531,574

552,180

80,049

EBITDA

3,466,558

3,720,668

539,382

Add:

Share-based compensation expense

220,269

221,119

32,056

Gain on disposal of equity investees and subsidiary

(147)

(478)

(69)

Adjusted EBITDA

3,686,680

3,941,309

571,369

(1) Net of income taxes of nil

Reconciliations of GAAP and Non-GAAP Results

Three Months Ended  March  31,

2025

2026

RMB

RMB

US$

(in thousands, except for share and per share data)

Net income attributable to ordinary shareholders

1,993,247

2,118,333

307,093

Add:

Share-based compensation expense (1)

220,269

221,119

32,056

Loss/(gain) on disposal of equity investees

and subsidiary, net of income taxes

(121)

(395)

(57)

Adjusted Net income attributable to ordinary shareholders

2,213,395

2,339,057

339,092

Weighted average shares used in calculating net earnings per ordinary share/ADS

Basic

798,486,427

776,158,342

776,158,342

Diluted

832,052,527

798,341,566

798,341,566

Net earnings per share/ADS attributable to

ordinary shareholders

Basic

2.50

2.73

0.40

Diluted

2.44

2.68

0.39

Adjusted net earnings per share/ADS

attributable to ordinary shareholders

Basic

2.77

3.01

0.44

Diluted

2.71

2.95

0.43

(1) Net of income taxes of nil

For investor and media inquiries, please contact:
ZTO Express (Cayman) Inc.
Investor Relations
E-mail: ir@zto.com
Phone: +86 21 5980 4508

Ultra Maritime Secures New Contract to Strengthen Royal Australian Navy’s Undersea Defence Capabilities

ADELAIDE, Australia, May 20, 2026 /PRNewswire/ — Ultra Maritime Australia has been awarded a contract by the Australian Department of Defence to supply Acoustic Device Countermeasure (ADC) units in support of the Royal Australian Navy. This latest agreement reinforces a trusted partnership spanning more than a decade, during which Ultra Maritime has consistently delivered advanced torpedo defence expendables to the Commonwealth of Australia.

Ultra Maritime is the world’s leading provider of advanced acoustic countermeasures, delivering innovation, evolution and operational advantage to allied navies. (PRNewsFoto/Ultra Maritime)
Ultra Maritime is the world’s leading provider of advanced acoustic countermeasures, delivering innovation, evolution and operational advantage to allied navies. (PRNewsFoto/Ultra Maritime)

Ultra Maritime’s ADC systems are engineered to provide mission-ready performance in the most demanding operational environments. Featuring intelligent acoustic output and proven interoperability, these systems are deployed by navies around the world as a reliable layer of defence against evolving undersea threats.

This latest contract further strengthens Ultra Maritime’s role in supporting Australia’s torpedo defence capabilities. It complements the company’s recent selection to supply the Surface Ship Torpedo Defence (SSTD) system for the Royal Australian Navy’s Hunter-class frigates, enhancing integrated undersea protection across the fleet.

Together, these efforts underscore Ultra Maritime’s enduring commitment to delivering cutting-edge solutions that enable maritime superiority and operational confidence for its global partners.

About Ultra Maritime

Ultra Maritime is a global leader in anti-submarine warfare (ASW) solutions across airborne, surface and undersea domains, charting a path to the future of unmanned and hybrid maritime dominance. With world-leading ASW technology, experts, decades of experience and significant investments across the business, Ultra Maritime is developing new, unique capabilities at an unprecedented rate. Operating across the U.S., Canada, UK and Australia, Ultra Maritime brings allied navies solutions today for tomorrow’s advantage through strategic partnerships and groundbreaking technology. At Ultra Maritime, the theoretical is suddenly achievable.

Visit our website www.umaritime.com, and follow us on LinkedIn.

Photo – https://laotiantimes.com/wp-content/uploads/2026/05/sea_deceptor_ultra_maritime.jpg 

LG CNS Expands North American AX Business, Supporting Smart Factory Transformation for SMEs

  • Showcases technologies at IoT Tech Expo 2026 in San Jose on May 18-19 together with global industry leaders including IBM, SAP, and Deloitte
  • Introduces Factova, an AI-powered smart factory solution designed to boost production optimization and factory intelligence at SMEs
  • Unveils AI solutions for ultra-precise process control in semiconductor and aerospace manufacturing, along with AI-driven environmental, health and safety management services

SEOUL, South Korea, May 20, 2026 /PRNewswire/ — LG CNS is accelerating its expansion into the North American manufacturing AX market with advanced AI-powered smart factory solutions.

Visitors at the LG CNS booth listening to an explanation of the AI smart factory solution ‘Factova’ during 'IoT Tech Expo 2026', held in San Jose, California, on May 18–19
Visitors at the LG CNS booth listening to an explanation of the AI smart factory solution ‘Factova’ during ‘IoT Tech Expo 2026’, held in San Jose, California, on May 18–19

The company participated in the IoT Tech Expo 2026 in San Jose on May 18–19 and was the sole Korea-based exhibitor at the event. The annual trade show, which highlights the latest IoT and AI-powered technologies, attracts more than 200 global technology and manufacturing companies and approximately 8,000 industry professionals. This year, IBM, SAP, and Deloitte hosted exhibition booths, while NVIDIA and Schneider Electric participated as conference speakers.

  • Introducing Factova: AI-powered Smart Factory Solution for Production Optimization and Intelligent Manufacturing for SMEs

LG CNS used the event to present the core offerings of its integrated smart factory brand, Factova, to a global audience. Factova leverages AI, big data, and IoT technologies across the entire manufacturing process to optimize production operations and drive intelligent factory transformation. The solution draws on over two decades of technological expertise and operational know-how gained from manufacturing projects in Korea and around the world.

LG CNS is expanding the availability of the Factova platform, proven at large-scale manufacturing sites, to small and mid-sized manufacturers. Factova MES, the flagship solution, is a manufacturing execution system that centrally manages end-to-end production workflows. It uses AI to collect and analyze shop-floor data in real time to reduce inefficiencies in the production process and optimize overall factory operations. Its functions are offered in modular form based on different process types in each industry, enabling customers to start with the core capabilities they need and add extended features as their smart factory matures.

LG CNS also showcased Factova Control, a solution designed to integrate and manage data at the production equipment level. Factova Control gathers and standardizes real-time data from equipment supplied by different vendors and enables centralized control across the line. It also integrates seamlessly with higher-level operational systems such as MES, and enhances production stability through AI-driven anomaly detection and predictive failure diagnostics. For instance, it analyzes real-time data such as motor current, temperature, and vibration to identify early warning signs of abnormalities, supporting the transition from manual inspections by field engineers to AI-driven predictive maintenance. Factova Control is currently deployed across more than 100,000 machines at manufacturing sites worldwide.

  • AI Solutions for Ultraprecise Process Control in Semiconductors and Aerospace, Plus AIpowered Safety and Environment Services

LG CNS also introduced solutions for industries that require ultra-precise process control, including semiconductors, displays, aerospace, and medical devices. By leveraging equipment anomaly detection (FDC), statistical process control (SPC), and out-of-control action plan (OCAP) solutions, these offerings help predict process defects in advance and maximize production yield through data-driven process optimization.

The company also demonstrated its Gen AI Safety Management service at the event. The service enables shop-floor workers to use a mobile app to take photos of incidents and upload voice memos. Generative AI then automatically analyzes the images to log incident details in the system. The service also provides initial response guidelines based on similar historical cases. It attracted significant interest from trade show participants due to the growing importance of environmental, health, and safety (EHS) management at manufacturing sites.

Korean manufacturers that have adopted Factova are already reporting measurable improvements. At one battery plant, the share of conforming products exceeded 90 percent within just one month of deployment, enabling the plant to quickly stabilize production and cut return costs for defective products by approximately 70 percent. At another electronics manufacturing facility, shop-floor productivity increased by roughly 20 percent, with more than 90 percent of process data now being collected automatically.

“We are accelerating our expansion into the North American market by leveraging our deep smart factory build-and-operation experience gained from large-scale manufacturing sites and our advanced AX technology capabilities,” said Jun-ho Lee, CEO of LG CNS America. “We will continue to leverage our diverse smart factory solutions to help small and mid-sized manufacturers achieve their vision for AI-based intelligent factories.”

GoFormz Launches Australian Data Center, delivering In-Country Data Sovereignty to Construction and Energy Enterprises

SAN DIEGO, May 20, 2026 /PRNewswire/ — GoFormz today announced the launch of its Australian data center, enabling Australian-based businesses to be provisioned entirely in-country, with customer data stored, processed, and governed under Australian Privacy Principles. GoFormz, a platform for complex field operations and enterprise-grade data capture, provides an always-on field data backbone for frontline teams operating in high-risk, compliance-sensitive environments. Localizing data residency enables lower latency and higher reliability for the mobile forms frontline crews use on remote job sites and energy assets. The company already serves industry leaders operating in Australia, including Petrol Services Australia (PSA), NQCranes, Mangan Logging, and VINCI Energies. 

“GoFormz’s investment in an Australian-based data center and infrastructure is a positive development for our partnership,” said Matt Ryan, IT Manager in Australia for VINCI Energies. “Local hosting supports our data residency requirements and delivers performance benefits that assist our operational teams. This capability strengthens our digital operations and reflects GoFormz’s ongoing role as a key technology partner.”

While most forms tools host data on generic hyperscale regions, GoFormz provides in-country infrastructure to fuel Australia’s remote field operations at growing scale. Field teams no longer need to worry about cross-border data transfer or the compliance workarounds it entails. The GoFormz platform is compliant by design, with all systems running in-region to ensure data sovereignty and enterprise procurement approval.

“GoFormz is committed to meeting enterprise customers where they operate,” said Rob Brewster, GoFormz CEO. “For Australian construction and energy companies, that means infrastructure in-country, not just a regional SaaS login. The data center is the foundation for the field data backbone our customers rely on, and the platform from which we’ll deliver AI-powered analytics for the region’s most demanding operations.”

The GoFormz platform gives on-site crews a reliable and accurate way to run complex workflows and capture critical field data, flowing it directly into core business systems to drive more certainty and better margins. With standardized digital forms and seamless routing into the systems that run multi-site, multi-project operations, GoFormz is designed for safety- and compliance-critical work.

“GoFormz is purpose-built for high-risk field operations, making real-time field visibility, offline-first data capture, GPS validation, and audit-ready records possible at enterprise scale,” said Lars Nilsen, CTO of GoFormz. “We have been growing and serving some of the region’s most sophisticated construction and energy companies. Having a data center in Australia enables those companies to run remote field operations with lower latency, higher reliability, and zero data sovereignty worries.”

New Australian customers can be provisioned directly into the AU environment, with a dedicated migration program in place for existing accounts. To learn more about how GoFormz can help revolutionize your business and deliver a powerful competitive edge, visit www.goformz.com.

About GoFormz
The GoFormz platform is built to run complex frontline workflows and capture critical field data, empowering businesses in high-risk, compliance-critical industries to replace manual operations with fully digital, mobile-friendly workflows. GoFormz helps leading global organizations including Vestas, ServiceMaster, Elecnor, ODOT, Bozzuto, Oldcastle, and the Conlan Company power real growth by turning trusted field data into real-time operational insights. It connects seamlessly with tools like Procore, Salesforce, Egnyte, and Microsoft Power Automate, delivering measurable time and cost savings for teams in the office and the field. Learn more at www.goformz.com.

Logo – https://laotiantimes.com/wp-content/uploads/2026/05/goformz_logo.jpg  

IBM Brings Its Most Advanced AI-Powered Security Portfolio to Clients, and is Strengthened by Ongoing Project Glasswing Work

As adversaries weaponize AI against the systems organizations depend on, IBM is putting cutting-edge defenses in the hands of clients

ARMONK, N.Y., May 20, 2026 /PRNewswire/ — IBM (NYSE: IBM) today announced the latest expansion of its enterprise security program for the AI era, and partners with Anthropic as a member of Project Glasswing, an industry initiative to defend the world’s critical software infrastructure.

IBM Corporation logo.
IBM Corporation logo.

For decades, IBM has secured the systems the world depends on, from mainframes processing global financial transactions to the open-source platforms and hybrid cloud environments at the core of critical industries in more than 175 countries. As attackers use frontier AI to accelerate every phase of the attack lifecycle, from reconnaissance to vulnerability discovery to exploitation, IBM is pairing its deep experience with a new generation of defenses built for the AI era.

Project Glasswing extends these efforts, uniting a coalition of security and technology leaders committed to protecting essential infrastructure and sharing findings across industries. As part of Glasswing, IBM has been identifying and remediating vulnerabilities in widely used software and sharing those findings with the broader community.

“AI-powered attacks have already moved beyond what traditional defenses can match. We’re helping clients assess their exposure and putting tools like IBM Concert to work in more environments. Separately, as part of Project Glasswing, we’ve been hardening our own products and contributing fixes back to the open-source community. The collaboration makes the entire ecosystem stronger,” said Rob Thomas, SVP Software & Chief Commercial Officer, IBM.

This is where IBM is already investing and leading:

  • IBM Concert uses AI to help organizations find and fix vulnerabilities before threats happen by unifying application, infrastructure, and network signals into a single, operational view — moving organizations from passive monitoring to coordinated, intelligent response. Its built-in security capabilities extend into the developer’s IDE through IBM Concert Secure Coder, which detects and prioritizes risks by business impact and generates automatic remediations as code is written, stopping vulnerabilities before they reach production.
  • IBM Consulting helps clients translate new AI-driven risks into their specific environments by redesigning vulnerability and open-source management for compressed timelines. IBM Autonomous Security, a multi-agent service, delivers coordinated detection, decision-making, and response at machine speed, supported by IBM’s business partners.
  • IBM and Red Hat’s open-source leadership helps clients mitigate the risks that come with using unsupported code. By contributing fixes proactively and maintaining enterprise-grade versions of widely used open-source components, IBM and Red Hat can move quickly when issues arise — giving clients the confidence of open source with the reassurance of reliable, rapid support.

IBM contributes findings from Glasswing through coordinated disclosure, upstream open-source patches, and best practices shared with fellow participants — reflecting the company’s long-held view that openness and scrutiny are prerequisites for security at scale.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.

Media Contacts:
Elizabeth Brophy
Elizabeth.brophy@ibm.com

Century-old Philips Steals the Show at TAS Shanghai: Gen Z Is Rediscovering the Art of HiFi Listening

SHANGHAI, May 20, 2026 /PRNewswire/ — From 15 to 17 May, the 33rd Shanghai International High-End Audio Visual Exhibition (TAS) took place at the Shanghai International Convention Center. Philips Audio presented its full range of new products and classic masterpieces in Room 325 on 3/F under the theme of “Experience a Century of True Sound in Shanghai”, creating an immersive sound pavilion that bridged eras.

Philips Audio presented its full range of new products and classic models at the 33rd TAS in Shanghai.
Philips Audio presented its full range of new products and classic models at the 33rd TAS in Shanghai.

Over the three-day exhibition, Room 325 drew a continuous flow of visitors. The classic over-ear HiFi headphone Philips Fidelio X2HR, with its class-defying performance, became a crowd favourite, drawing young visitors lining up for a listen. Meanwhile, the newly debuted over-ear noise-canceling headphone Philips TAH6000 and TWS noise-canceling earbuds Philips TAT2200 precisely struck a chord with commuters and students craving a “portable quiet pod”.

On the same day, the Philips all-in-one vinyl speaker V9000F was honoured with the Exhibition Recommended Award, further underscoring the enduring strength of Philips as a century-old acoustic brand.

Turning Critics into Converts: How Philips Is Redefining Budget HiFi

Within the “HiFi Listening Room” at the exhibition venue, the biggest draw was not a flagship model commanding five-figure prices, but the Philips Fidelio X2HR — a pair of headphone first released over eight years ago. Paired with high-end digital audio players, the listening stations were almost continuously occupied.

“I used to think HiFi was more about mystique than substance — an expensive indulgence,” said a university student from Shanghai after queuing for half an hour to audition them. “However, after listening to the Fidelio X2HR, I am starting to question whether the trendy-brand headphones I paid over 2,000 yuan for were worth it at all.”

Another young attendee was equally blunt, “The studio-grade sound and vocal clarity — my friend sitting next to me was wearing a pair of headphones from well-known brand priced at over 3,000 yuan, and frankly, they were no match for this.”

After comparing headphones priced two to three times higher, multiple attendees at the scene reached a similar verdict: Philips Fidelio X2HR simply delivered more of what they valued — mid-range richness, immersive atmosphere, and fatigue-free listening.

Why did a headphone priced at just a few hundred yuan become the go-to listening experience for young attendees at a high-end exhibition like TAS? The answer lies in what remains when brand premium is stripped away — expert tuning and genuine acoustic engineering. It is the “punching above its weight” quality that is precisely what today’s discerning young consumers are most willing to invest in.

TAH6000: Mainland China Dual Hi-Res, LDAC, and an 80-Hour “Quiet Zone”

Should the Fidelio X2HR feature a fusion of heritage and performance, the Philips TAH6000, making its offline debut, marks a piece of technology purpose-built for modern urban life. With ANC Pro noise cancellation, Dual Hi-Res Audio Certification (Mainland China), LDAC lossless transmission, Bluetooth 6.0, and 80 hours of ultra‑long battery life… the Philips TAH6000’s spec sheet is already impressive enough. But what truly amazed young attendees on site was not such features. Instead, it was the comfort they felt the moment they put the headphones on.

“I wear glasses, and I’ve tried many over-ear headphones that press against my temples and squeeze the arms of my glasses,” said a young woman wearing black-framed glasses after trying them on. “With this pair I felt nothing — I even forgot I was wearing them.” Weighing just 243 grams and featuring memory foam ear pads, the Philips TAH6000 was hailed by attendees as “a universally recognized blessing for glasses wearers”. One visitor joked, “These headphones are more reliable than my partner — at least they can quietly stay with me for 80 hours.”

Another highlight lies in the dual-mode design, which enables wireless listening when charged, or cabled listening when the battery runs out. A frequent traveler said, “It is not convenient to use Bluetooth when you fly, so this 3.5mm jack is really practical. With a 5-minute fast charge for 4 hours of playback, I can freshen up and it’s ready to go again — much better than some big-name brands.”

Many young people showed strong interest in the “adaptive noise cancellation mode” — the headphones automatically adjust the noise reduction intensity when moving from the subway to the office, with no need for manual operation. One attendee, who works as a product manager, commented, “This is what a truly seamless experience looks like — this is how technology should be.”

Philips TAT2200: A 4.6g ‘Mood Pod’ That Silences the Daily Grind

In today’s TWS earphone market that is already overcrowded, what makes the Philips TAT2200 stand out? Just hear answers from attendees on site: lightweight, stable, and quiet.

Weighing just 4.6g per earbud and equipped with SecureFit anti-slip ear tips — featuring a micro-texture design for better grip — the earbuds stayed firmly in place when many young people jumped around while wearing them. “Perfect for the gym. They won’t fall off, however hard you shake.”

In terms of noise reduction, the Philips TAT2200 features active noise cancellation (ANC). A commuter who spends an hour each day on the subway said after trying them, “With deep noise reduction enabled, the voices from nearby booths almost disappear. I can finally enjoy pure music.”

The dual-sided 4-mic ENC call noise reduction and Bluetooth 6.0 also caught the interest of content creators on site. “When using them for calls, the wind noise resistance is pretty good.”

With 36 hours of comprehensive battery life, a 10-minute fast charge for 2 hours of playback, and four color options — Obsidian Black, Moonlight White, Sakura Pink, and Ice Sea Blue — the Philips TAT2200 has been hailed by attendees “the first emotional noise‑canceling pod for young people.” It’s not just an earphone — it’s also a fashion accessory for the street.

One attendee asked, “Most TWS earphones these days offer similar features. What really makes the TAT2200 different?” Another replied, “Perhaps it is the seamlessness——so light you forget you’re wearing them, so stable they won’t fall off, so quiet that only the music remains. This is what true wireless devices should be.”

Vinyl Meets Wireless: A Century of Sound Reimagined

In addition to its new HiFi and noise reduction products, Philips also set up a “Vinyl Time Zone” and a “Wireless Trend‑Listening Zone”. The TINA‑V9000F all‑in‑one system with a genuine black walnut wood‑grain cabinet, the STEVIE‑V3000 avant‑garde vinyl system, and the RINGO-H2000 retro on-ear Bluetooth headphones—highlighting the classic 1987 design—attracted many Gen Z visitors seeking unique ways to express themselves.

“Retro styling plus Bluetooth functionality — that contrast is really cool,” said a young attendee dressed in streetwear. “Wearing these out isn’t just about listening to music — it’s about making a statement.”

Why Gen Z Is Rediscovering the Art of HIFI Listening

From immersive, personal HiFi headphones to joy‑sharing wireless trendsetters, and from vinyl nostalgia to wireless freedom — over three days, Philips Audio welcomed thousands of visitors in Room 325 at TAS. Many young attendees visited with a shared question, “Can a thousand-yuan headphone really challenge its peers costing several times more?” But after trying out Philips Fidelio X2HR, they found their answer.

A college student from Shanghai told the reporter, “I used to think HiFi was more about hype than science—an expensive toy. But after hearing Philips Fidelio X2HR with my own ears, I finally understand where a century-old acoustic brand draws its confidence—truly great sound never needs a price tag to prove itself.”

 The exhibition also sparked a small discussion on whether noise cancellation and sound quality can go hand in hand. Some attendees felt that the Philips TAH6000 offers sufficient noise cancellation depth with balanced, fatigue-free sound quality. Others insisted that “over-ear headphones still sound more natural when open-back.” A Philips Audio representative explained that different products serve different scenarios: Philips Fidelio X2HR delivers pure HiFi, Philips TAH6000 provides portable noise cancellation, and Philips TAT2200 meets the need for wireless freedom—together, the three form a sound solution that covers every scenario.

Philips Audio firmly believes that the true meaning of sound lies in connecting people with time and conveying the warmth of love. Moving forward, Philips will continue to offer products that dare to challenge and dare to break the boundaries, making high-quality audio no longer out of reach—accompanying every generation of young people as they listen to what they love and chase their horizons.

HUDA BEAUTY TAKES OVER LONDON WITH THE MOST IMMERSIVE BEAUTY EVENT IN THE WORLD

LONDON, May 20, 2026 /PRNewswire/ — Huda Beauty marked a significant moment for the brand with a large-scale brand immersive event in the heart of London to celebrate the launch of its debut fragrance, Easy Bake Intense Eau de Parfum. Bringing together global talent, creators, and industry insiders, the night reflected the brand’s expansion into fragrance and its continued influence across beauty and culture. 
Set in the heart of London at the Outernet, a renown digital arcade and wrap around screens; guests were fully immersed ‘inside the scent’ and surreal world of the Easy Bake Intense Eau de Parfum. A sensorial, interactive experience filled with falling juicy cherries, rich caramel rivers & floating white florals.  

Huda Kattan, CEO & Founder of Huda Beauty - credit: Huda Beauty
Huda Kattan, CEO & Founder of Huda Beauty – credit: Huda Beauty

The evening started with a spectacular reveal of Huda Kattan getting out of a giant bottle of the new Easy Bake Intense Eau de Parfum as she broke into her own vault to surprise guests. Next came two standout performances – the highly anticipated return of global phenomena the Pussycat Dolls and local homegrown talent Central Cee storming the stage; setting the tone for a high-energy celebration that underscored the scale of the launch and its cultural reach – Easy Bake Intense is back.  

Speaking of the launch, founder & CEO, Huda Kattan said “I wanted Easy Bake Fragrance to feel rich, s#xy, and intense. Because when it’s truly you, it’s never too much.” Developed through extensive iterations, Easy Bake Intense Eau de Parfum is a warm gourmand fragrance designed to leave a lasting impression. It opens with notes of juicy wild cherry, layered with white florals and cinnamon, and settles into a rich base of caramel, vanilla bourbon, and creamy accords. The result is a scent that is both noticeable and long-wearing, balancing familiarity with a more elevated, indulgent finish. 

Huda Kattan, CEO & Founder of Huda Beauty - credit: Huda Beauty
Huda Kattan, CEO & Founder of Huda Beauty – credit: Huda Beauty

 

Huda Kattan & Central Cee - credit: Huda Beauty
Huda Kattan & Central Cee – credit: Huda Beauty

 

Huda Kattan with Nicole Scherzinger, Ashley Robert's and Kimberly Wyatt - credit: Huda Beauty
Huda Kattan with Nicole Scherzinger, Ashley Robert’s and Kimberly Wyatt – credit: Huda Beauty

 

Huda Kattan, CEO & Founder of Huda Beauty - credit: Huda Beauty
Huda Kattan, CEO & Founder of Huda Beauty – credit: Huda Beauty

 

Central Cee - credit: Huda Beauty
Central Cee – credit: Huda Beauty

 

DELLA Introduces New Commercial HVAC Solutions for Scalable, Energy-Efficient Climate Control

LOS ANGELES and NEW YORK, May 20, 2026 /PRNewswire/ — Commercial spaces today demand more from climate systems than ever before. Rising energy costs, changing building layouts, and increasing expectations around indoor comfort are forcing businesses to rethink traditional HVAC infrastructure.

New Commercial HVAC Solutions for Scalable, Energy-Efficient Climate Control
New Commercial HVAC Solutions for Scalable, Energy-Efficient Climate Control

In response, DELLA is expanding its commercial climate lineup with a new generation of systems designed for modern business environments.

“Commercial comfort isn’t just about cooling a space, it’s about creating an environment where people can work, shop, and thrive without distraction,” said Raymond P., CEO of DELLA. “Our new commercial systems are built to deliver that balance at every scale.”

From energy efficiency and scalable installation to intelligent controls and long-term cost savings, DELLA’s latest lineup introduces four powerful solutions: cassette AC, ducted AC, central AC, and floor ceiling units—each engineered for specific commercial environments.

Smarter comfort and performance start here.

Cassette AC Systems

DELLA’s cassette AC systems are designed for open commercial environments, delivering 360-degree airflow through ceiling-mounted units that remain out of sight. Ideal for offices, retail stores, and showrooms; they provide even air distribution without sacrificing space.

With a no-draft airflow concept and advanced micro-pore design, these systems diffuse air gently to eliminate harsh direct airflow while maintaining consistent comfort. Integrated fresh air intake supports commercial ventilation requirements, while ultra-quiet operation ensures minimal disruption.

Delivering up to 22 SEER2 efficiency, cassette systems reduce long-term operating costs while maintaining strong performance. Smart features including app control, geo-location automation, and voice assistant compatibility provide full control over indoor environments.

Ducted AC Systems

DELLA’s ducted AC systems offer fully hidden climate control through centralized ductwork, creating a clean, seamless appearance while delivering consistent airflow across multiple rooms. Unlike traditional systems, Della ducted solutions support a multi zone airflow outlet for optimal cooling.

Designed with flexibility in mind, these systems feature ultra-slim 7.9-inch air handlers that fit into tight ceiling or attic spaces, simplifying installation without compromising performance. Fresh air expansion capabilities further enhance indoor air quality for commercial applications.

Ducted systems are ideal for larger properties such as hotels, office buildings, and retail environments, particularly in new construction or renovation projects requiring long-term infrastructure planning.

Central AC Systems

Built for large-scale commercial applications, DELLA’s central AC systems combine power with intelligent performance through advanced inverter heat pump technology. By adjusting output dynamically, these systems deliver significantly higher energy efficiency compared to traditional fixed-speed units.

This results in lower energy consumption, reduced carbon emissions, and quieter operation, creating a more comfortable environment without disruptive system noise.

With universal compatibility including RS485 and 24V communication, DELLA central systems integrate easily with existing infrastructure, making them ideal for retrofits and system upgrades.

An integrated electric heat backup ensures reliable heating during extreme conditions, while built-in smart controls allow for remote adjustments, real-time monitoring, and simplified system management. Dual safety monitoring detects refrigerant leaks instantly, protecting both equipment and occupants.

Floor Ceiling Units

DELLA’s floor ceiling units provide flexible installation options for commercial spaces where traditional systems are not practical. Designed for ceiling-mounted or floor-standing use, they adapt easily to unique layouts and retrofit projects.

These units deliver stronger airflow and wider coverage compared to standard wall-mounted systems, making them effective for larger or irregular spaces. Fresh air expansion capabilities further support commercial ventilation needs.

Built for Real-World Business

At DELLA, every commercial system is designed with real operational needs in mind—from energy savings and installation flexibility to smart controls and long-term reliability. Whether it’s a high-traffic retail space, a multi-room office, or a large-scale facility, Della delivers solutions that improve the way businesses operate.

Discover DELLA’s full commercial lineup now at www.dellahome.com.