About ZTO EXPRESS-W Company

Established on May 8, 2002, ZTO Express (“ZTO” or the “Company”) is one of the leading express delivery companies in China for parcel delivery, accounting for 19.1% of the market share in 2019. ZTO is a key enabler and direct beneficiary of China's rapidly growing e-commerce market, and has become a trusted courier partner for millions of business customers (including online merchants and consumers who buy and sell products on China's leading e-commerce websites) such as Alibaba, PDD, and JD.com. ZTO operates a highly scalable network partner model, enabling it to rapidly expand the national network and provide e-commerce merchants with greater geographical coverage at a lower cost. Under the network partner model, it operates mission-critical line transportation and sorting networks within the courier services value chain, while its network partners operate outlets that provide first-mile pickup and last-mile delivery services. Operational efficiency and economies of scale enable ZTO to obtain strong operating leverage, thereby driving higher returns on invested capital and equity. ZTO aims to be the world's leading integrated logistics service provider.