SHANGHAI, China, Nov. 14,
2018 /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 depository
shares with an aggerate value of up to US$500 million during the next 18-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.
"This share repurchase program reflects our confidence in the
overall market opportunities as well as ZTO's solid operating
fundamentals and financial strength for sustained profitable growth
and value creation for our shareholders." commented Mr.
Meisong Lai, the Founder and the
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://zto.investorroom.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.