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 parcel delivery volume in China, accounting for 19.1% of the market share in 2019. ZTO is a key enabler and a direct beneficiary of China's rapidly developing e-commerce market, and has become a trusted courier partner for millions of commercial customers (including online merchants and consumers who buy and sell products on China's leading e-commerce sites) such as Alibaba, PDD, and JD.com. ZTO operates a highly scalable network partner model that enables it to rapidly expand its nationwide network and provide e-commerce merchants with greater geographic coverage at a lower cost. Under the network partner model, it operates mission-critical line transportation and sorting networks within the courier service 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 become the world's leading integrated logistics service provider.