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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 has announced an increase in its share repurchase program from US$500 million to US$1 billion, extending the duration until June 30, 2023. The board approved these changes to reflect the company's strong growth trajectory in the express delivery sector in China. The repurchases will be executed under market conditions through various means, allowing ZTO to manage its capital efficiently. This move is expected to enhance shareholder value and reinforce confidence in the company's future performance.
ZTO Express reported strong growth in parcel volume for 2020, achieving over 17 billion parcels and a market share of 20.4%. Despite challenges from the pandemic and competition, the company generated revenues of RMB25.2 billion, up 14% year-over-year. However, net income decreased by 23.7% to RMB4.3 billion and gross profit declined by 11.8%. Adjusted net income also fell by 13.3%. A special dividend of US$0.25 per ADS was announced, with a positive outlook for 2021, projecting parcel volume growth of 35% to 40%.
ZTO Express (Cayman) Inc. announced the immediate appointment of Zheng Liu as a new director of its board, replacing Lin Wan, who has resigned. The Board retains nine members, with five being independent. Zheng Liu, who has been the Chief Financial Officer of Cainiao Network since February 2016, has extensive experience in finance, including positions at Alibaba Group and PwC. ZTO is recognized as a leading express delivery service provider in China, leveraging a scalable network to support e-commerce growth.
ZTO Express (Cayman) Inc. (NYSE: ZTO) will release its unaudited financial results for the fourth quarter and fiscal year 2020 on March 17, 2021. The announcement will follow the U.S. market's closure. A conference call with management is scheduled for 8:30 PM ET on the same day, allowing for investor inquiries. ZTO is a prominent express delivery company in China, providing extensive logistics services through its national network, which supports the growth of e-commerce.
ZTO Express (Cayman) Inc. (NYSE: ZTO) held its 2020 year-end network partner convention in Shanghai on January 12, 2021. Despite challenges from the global pandemic and intense competition, ZTO achieved significant growth in parcel volume, delivering 17 billion parcels in 2020, a 40.3% increase year-over-year. The company also gained market share, securing the top position among its peers. Looking ahead, ZTO aims to enhance its network, improve profitability, and maintain high service quality to adapt to changing market conditions.
ZTO Express reported third quarter 2020 results, achieving revenues of RMB6.6 billion, a 26.1% increase from the previous year. However, adjusted net income fell 8.2% to RMB1.2 billion, impacted by intense competition leading to an 18.4% drop in parcel pricing. Notably, parcel volume surged by 51.2%, capturing a market share of 20.8%. Cash flow from operations improved by 4.4% to RMB1.48 billion. Despite challenges, ZTO maintains its annual guidance of 16.2 to 17.0 billion parcels for 2020, reflecting resilience in a competitive landscape.
ZTO Express (Cayman) Inc. (NYSE: ZTO) will hold its annual general meeting of shareholders on November 17, 2020, at 14:00 local time in Shanghai. Shareholders can attend in person or via audio conference. The record date for the meeting is November 2, 2020. Additional details and the agenda are available on the Company's investor relations website.
ZTO is a leading express delivery firm in China, leveraging a scalable network partner model to support e-commerce growth through efficient logistics services.
ZTO Express (Cayman) Inc. (NYSE: ZTO) will release its unaudited financial results for Q3 2020 on November 18, 2020, post U.S. market close. The earnings conference call is set for 8:00 P.M. U.S. Eastern Time on the same day. ZTO is a prominent express delivery firm in China, leveraging a scalable network partner model to enhance its e-commerce logistics services. Investors can access a live webcast of the call on the company’s investor relations website.
ZTO Express (Cayman) Inc. (NYSE: ZTO) announced its successful trading debut on the Hong Kong Stock Exchange on September 29, 2020, under stock code '2057'. The shares opened strong, reaching an intraday high of HK$245.20 and closing at HK$238, marking a 9.17% increase from the offer price of HK$218. Approximately 4.2534 million shares were traded, totaling around HK$1,010 million in turnover. ZTO Express aims to leverage this listing for business growth and commit to high customer satisfaction, having achieved substantial parcel volume growth and profitability in recent years.
ZTO Express (Cayman) Inc. announced the pricing of a global offering of 45 million shares at HK$218 per share, translating to approximately US$28.13 per American depositary share. The stock is expected to start trading on September 29, 2020, under stock code '2057' on the Hong Kong Stock Exchange. The proceeds will fund infrastructure, logistics ecosystem investments, and corporate purposes. An over-allotment option for an additional 6.75 million shares is available until October 22, 2020. The offering is backed by Goldman Sachs as the sole sponsor and global coordinator.
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