ZTO Express Won Warm Market Response on First Trading Day
Closed at HK$238, up 9.17% vs Offer Price
SHANGHAI, Sept. 29, 2020 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO) (the"Company" or "ZTO Express", Stock code: 2057.HK), a leading express delivery company in China, today announced that the Company's Shares have been traded on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "2057".
Shares of the Company were actively traded on the first day of listing, with an intraday high of HK$245.20 each and closed at HK$238, representing an increase of approximately 9.17% from the offer price of HK$218. Total trading volume was approximately 4.2534 million shares today, representing an aggregate turnover of approximately HK$1,010 million.
Commenting on the positive reaction of the market, ZTO Express said: "In the future, we will continue our effort towards our mission of 'Bringing happiness to more people through our services' and become a world-leading comprehensive logistics service provider."
Looking forward, taking the listing as an opportunity, ZTO Express will leverage on the global capital to further promote the Company's business development, strive for outstanding performance, and give back to the society and the public.
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. is a leading express delivery company in China. Founded in 2002, the Company is China's leading express delivery service provider based on total parcel volume, with a 19.1% market share in 2019. The Company is the youngest among the scaled express delivery companies in China and the largest in scale and the most profitable among the Tongda Operators, who are the express delivery service providers utilizing the "network partner model" in China, namely the Company, YUNDA Holding Co., Ltd., YTO Express Group Co., Ltd., BEST Inc. and STO Express Co., Ltd. The Company has developed one of the most extensive and reliable delivery networks in China. As of 30 June 2020, the Company's network covers over 99.2% of cities and counties in China. The Company has achieved rapid growth while maintaining superior profitability and high customer satisfactions. The Company's total parcel volume increased from 6.2 billion in 2017 to 12.1 billion in 2019, and from 5.4 billion in the six months ended 30 June 2019 to 7.0 billion for the six months ended 30 June 2020. The Company's net income increased from RMB3.2 billion in 2017 to RMB5.7 billion in 2019.
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