SHANGHAI, May 21, 2017
/PRNewswire/ -- ZTO Express (Cayman) Inc. (the "Company" or "ZTO")
(NYSE: ZTO), a leading and fast-growing express delivery company in
China, today announced that the
board of directors of the Company has authorized a new share
repurchase program whereby ZTO is authorized to repurchase its own
Class A ordinary shares in the form of American depositary shares
with an aggregate value of up to US$300
million during the next 12-month period. The Company expects
to fund the repurchase out of its existing cash balance. The
proposed share repurchase may be effected on the open market at
prevailing market prices and/or in negotiated transactions off the
market from time to time as market conditions warrant in accordance
with applicable requirements of Rule 10b5-1 and/or Rule 10b-18
under the U.S. Securities Exchange Act of 1934, as amended.
"The Company's share repurchase plan demonstrates our confidence
in the Company's strategy, operating fundamentals and the future
business prospects of China's
express delivery industry. We are committed to creating more value
for our shareholders," commented Mr. Meisong Lai, Founder and Chief Executive Officer
of ZTO.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confidence" and similar statements. ZTO
may also make written or oral forward-looking statements in its
reports filed or furnished to the U.S. Securities and Exchange
Commission, in its annual reports to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about ZTO's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding these and other risks is
included in our annual report on Form 20-F and other documents
filed with the Securities and Exchange Commission. All information
provided in this press release is as of the date of this press
release, and ZTO undertakes no duty to update such information,
except as required under applicable law.
About ZTO
ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company")
is a leading and fast-growing express delivery company in
China. ZTO provides express
delivery service as well as other value-added logistics services
through its extensive and reliable nationwide network coverage in
China.
ZTO operates a highly scalable network partner model, which the
Company believes is best suited to support the significant growth
of e-commerce in China. The
Company leverages its network partners to provide pickup and
last-mile delivery services, while controlling the mission-critical
line-haul transportation and sorting network within the express
delivery service value chain.
For more information, please visit http://ir.zto.com.
Contacts:
ZTO
Ms. Sophie Li
Investor Relations Director
E-mail: ir@zto.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
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SOURCE ZTO Express (Cayman) Inc.