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ZTO Express, Inc.





Founded on May 8, 2002, ZTO Express, Inc. (“ZTO”) is one of the leading express delivery companies in China in terms of parcel volume, with a 19.1% market share in 2019. ZTO is both a key enabler and a direct beneficiary of China’s fast-growing e-commerce market and has established itself as the trusted express delivery partner for millions of commerce customers, including online merchants and consumers selling and buying products on Chinese leading e-commerce sites, such as Alibaba, PDD,
ZTO operates a highly scalable network partner model that enables it to expand nationwide network quickly and provide e-commerce merchants with greater geographic reach at low cost. Under a network partner model, it operates the mission-critical line-haul transportation and sorting network within the express delivery service value chain, whereas its network partners operate the outlets that provide first-mile pickup and last-mile delivery services. Operational efficiency and economies of scale enable ZTO to achieve strong operating leverage which drives higher return on invested capital and equity. ZTO’s objective is to become a world-leading comprehensive logistical services provider.

Key Facts


Public Listing



Location of Key Operations

IR Contact

Deloitte Touche Tohmatsu CPA LLP

IPO (October 27, 2016)

Cayman Islands

Qingpu, Shanghai, China



Analyst Coverage

Latest News

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