SHANGHAI, Dec. 19, 2017 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company"), a leading express delivery company in China, today announced that one of its wholly-owned subsidiaries, Shanghai Zhongtongji Network Technology Co. Ltd. ("Zhongtongji Network"), was recognized as a national High and New Technology Enterprise ("HNTE") by relevant PRC government authorities.
With national HNTE status, Zhongtongji Network is eligible to a reduced income tax rate of 15% for a three-year period starting January 1, 2017 through December 31, 2019. Zhongtongji Network's continued qualification as a HNTE will be subject to the review by the relevant PRC government authorities every three years.
Founded in July 2015, Zhongtongji Network operates ZTO's information systems and primarily provides information technology related services to ZTO's subsidiaries and consolidated affiliated entities for service fees.
Mr. Meisong Lai, Founder, Chairman and Chief Executive Officer of ZTO, commented, "I'm pleased to see Zhongtongji Network recognized as a national High and New Technology Enterprise. We have always committed ourselves to investing in the research and development of technology and the adoption of technologies in express deliveries. We are grateful for the government's support for and recognition of these efforts. Going forward, we will continue to invest in technology to further enhance operational efficiency, improve user experience, and create greater value for our customers and shareholders."
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About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company") is a leading express delivery company in China and the largest express delivery companies globally, in terms of total parcel volume in 2016. 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.
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SOURCE ZTO Express (Cayman) Inc.