SHANGHAI, Oct. 17, 2017 /PRNewswire/ -- ZTO Express
(Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company"), a leading
express delivery company in China,
today announced that it has joined a seven-member consortium (the
"Consortium") to establish a logistics insurer. In addition to ZTO,
the consortium will consist of STO Express Co. Ltd., Yunda Holding
Co. Ltd., Guangzhou Baogong International Freight Agency, Jiangxi
Financial Holding Group, Shandong Jingjin Holding Group, and
Shanghai YTO Jiaolong Investment Development (Group) Ltd.
The logistics insurer is expected to have registered capital of
approximately RMB1 billion. ZTO plans
to invest approximately RMB160
million and take a 16% stake in the insurer.
China's express delivery
industry has experienced rapid growth in recent years but
traditional insurance providers do not provide products
specifically tailored to cover basic risks in the logistics sector.
ZTO is jointly establishing the logistics insurer with some of its
peers in the express delivery industry to fill in the gaps created
by traditional insurance providers. The logistics insurer is
expected to offer a wide variety of customized products including
transportation, property, vehicles, liability and accident
insurance. The establishment of the logistics insurer is still in
the preliminary stages and is subject to the approval from
China's insurance regulator and
the entering into of definitive transaction documents.
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. is
a leading express delivery company in China and one of the largest express delivery
companies globally, in terms of total parcel volume in 2015,
according to the iResearch Report. 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://zto.investorroom.com.
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.
For investor and media inquiries, please contact:
ZTO
Ms. Sophie Li
Investor Relations Department
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
View original
content:http://www.prnewswire.com/news-releases/zto-joins-consortium-to-establish-logistics-insurer-300537748.html
SOURCE ZTO Express (Cayman) Inc.