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ZTO Express (Cayman) Inc., the leading express delivery company in China by parcel volume, has established itself as a cornerstone in the logistics and e-commerce sectors. Founded in 2002 and headquartered in Shanghai, ZTO operates through a highly scalable network partner model. This approach integrates first-mile pickup and last-mile delivery services provided by its local network partners with the company's centralized line-haul transportation and sorting services. This synergy ensures efficient and reliable delivery solutions across China and key international markets.
As of December 31, 2016, ZTO's extensive network covers over 96% of China's cities and counties, making it a critical enabler of the country's rapidly growing e-commerce market. The company has garnered substantial market share, capturing 22.1% of the parcel volume in 2022, positioning it as an indispensable service provider for major e-commerce giants such as Alibaba and JD.com.
ZTO's continuous growth is driven by strategic partnerships and sound financial performance. As of June 30, 2023, Alibaba Group holds an 11.7% interest in the company, underscoring a robust strategic alignment. The founder, Meisong Lai, remains instrumental as Chairman and CEO, holding a 77% voting right stake, ensuring a clear vision and steady leadership.
Recent corporate developments highlight ZTO's momentum and adaptability. In 2023, the company achieved a remarkable parcel volume of 30.2 billion, reflecting year-on-year growth of 23.8%. This success is attributed to ZTO's focus on balanced development, emphasizing long-term strategic goals and operational excellence.
Looking ahead, ZTO is committed to enhancing its service offerings and expanding its international footprint. Key initiatives include strengthening safety measures, improving service capabilities, and fostering innovation. The company's roadmap for 2024 underscores a comprehensive approach combining development, security, and efficiency, aiming for high-quality growth and sustained market leadership.
For more information, please visit ZTO Investor Relations.
ZTO Express (Cayman) Inc. (NYSE: ZTO) announced on April 20, 2023, the substantial completion of an independent investigation regarding allegations made by short-seller Grizzly Research. The investigation, led by the Audit Committee with the help of external advisors, addressed claims from reports published on March 2 and March 17, 2023. The Audit Committee concluded that the allegations from both reports lack substantiation. This development is significant for ZTO as it restores credibility and may positively influence investor confidence.
ZTO Express (Cayman) Inc. (NYSE: ZTO), a leading express delivery company in China, announced the filing of its annual report on Form 20-F with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2022. This report is available on the company's investor relations website and the SEC's website. Additionally, ZTO has published its annual report for Hong Kong regulatory compliance. The company is recognized for its scalable network model which supports the growth of e-commerce in China, providing a range of logistics services across a reliable nationwide network.
ZTO Express (Cayman) Inc. (NYSE: ZTO) announced the adoption of several resolutions at its extraordinary general meeting held in Hong Kong on April 14, 2023. The resolutions include a general mandate for the directors to issue up to 20% of the total issued and outstanding class A ordinary shares, and to repurchase up to 10% of the total shares. Additionally, the Company received approval to extend the share issuance mandate by the number of shares repurchased. A special resolution was also passed to amend and restate the articles of association. These actions are aimed at enhancing the Company's flexibility in capital management and supporting its growth strategy in the competitive express delivery market in China.
ZTO Express (NYSE: ZTO) reported its fourth quarter and fiscal year 2022 results, highlighting a 37.6% increase in adjusted net income to RMB6.8 billion despite economic challenges. The company achieved a 9.4% year-over-year growth in parcel volume, reaching 24.4 billion parcels and expanding its market share by 1.5 percentage points to 22.1%. Total revenues increased by 16.3% to RMB35.4 billion. For Q4, revenues were RMB9.9 billion, a rise of 7.1%, with net income up 21.8% to RMB2.1 billion. A special dividend of US$0.37 per ADS was announced for 2022.
ZTO Express (Cayman) Inc. (NYSE: ZTO) announced on March 9, 2023, that its Audit Committee will conduct an Independent Investigation following allegations made in a March 2 report by Grizzly Research. This decision aims to protect shareholder interests. The investigation will be supported by independent advisors, including a law firm and a forensic accounting firm. ZTO emphasizes its commitment to corporate governance and compliance with regulations. Updates regarding the investigation will be provided in accordance with SEC and stock exchange rules.
ZTO Express (Cayman) Inc. (NYSE: ZTO) announced an extraordinary general meeting (EGM) of shareholders on April 14, 2023, at 2 p.m. in Hong Kong. The EGM will address and seek approval for proposed resolutions detailed in the EGM Notice available on the company's website. Only shareholders recorded by March 13, 2023, will be entitled to vote. For American depositary shares (ADSs), voting instructions must be provided to JPMorgan Chase Bank. The meeting will also be accessible via an online webcast for eligible shareholders. ZTO is a leading express delivery company in China, focusing on e-commerce logistics.
ZTO Express (Cayman) Inc. (NYSE: ZTO) addressed allegations from Grizzly Research, a short seller, claiming the report is baseless and filled with errors and misunderstandings regarding the company’s operations. ZTO's board, including the audit committee, is reviewing these allegations and will act to protect shareholders' interests. The company emphasizes its commitment to high standards of corporate governance and timely disclosures. ZTO operates a scalable logistics network in China, primarily focused on e-commerce delivery services, and asserts its ongoing dedication to transparency and compliance with regulations.
ZTO Express (Cayman) Inc. (NYSE: ZTO) is set to release its fourth quarter and fiscal year 2022 financial results on March 15, 2023, after U.S. market hours. This announcement follows the company's growth trajectory as a leading express delivery service in China, leveraging a scalable network partner model designed to support e-commerce growth. A conference call will be held at 8:30 PM U.S. Eastern Time on the same day, where management will discuss these results. Investors can access the live and archived webcast on the company's investor relations website.
ZTO Express (Cayman) Inc. (NYSE: ZTO) held its 2023 Nationwide Network Conference in Shanghai on February 7, 2023. The company reported a 9.4% year-over-year increase in parcel volume, reaching 24.39 billion parcels in 2022, and a market share growth to 22.1%. ZTO is focused on enhancing operational safety, business development, quality improvements, and ecological collaboration. Chairman Meisong Lai emphasized the commitment to high-quality growth and improving service capabilities to meet diverse market demands. The company aims to strengthen its core operations and expand its ecosystem in 2023, marking a significant year for its future growth.
ZTO Express (Cayman) Inc. (NYSE: ZTO) announced its application for a voluntary conversion to a dual-primary listing on the Hong Kong Stock Exchange, expected to take effect on May 1, 2023, pending approval. The company has also entered into multiple continuing connected transactions as part of its business operations. Additionally, ZTO plans to propose a share repurchase mandate for up to 10% of its Class A ordinary shares and an issuance mandate for up to 20%. The company aims to update its memorandum and articles of association in compliance with Hong Kong Listing Rules.
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