SHANGHAI, June 16, 2017 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company"), a leading express delivery company in China, today announced that it will expand its Zhenjiang regional warehouse and sorting hub.
Announced at 19th China Zhejiang Investment & Trade Symposium, ZTO plans to invest up to RMB150 million (approximately US$22 million) to expand its current Zhejiang regional warehouse and sorting hub. ZTO has obtained land use rights to an over 32,000 square meter piece of land in Jinyi New Urban District, Zhejiang Province to construct additional office space, warehouse and sorting hub with processing capacity for up to one million parcels per day. Construction is expected to be completed by August 2018.
"Building additional infrastructure at our Zhejiang regional warehouse and sorting hub is another step in our strategy to expand the scale of our network and improve service quality and operational efficiency," commented Mr. Meisong Lai, Founder and Chief Executive Officer of ZTO. "Zhejiang is a very important commercial and regional hub for us and is one of the main distribution channels for the thousands of customers and merchants we provide services to in the area. The additional capacity to process up to one million parcels per day will further reduce regional unit logistics costs, improve customer service and in turn strengthen brand loyalty among our customers and merchants."
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company") is a leading express delivery company in China and one of 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.
For more information, please visit http://ir.zto.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:
Ms. Sophie Li
Investor Relations Director
Mr. Christian Arnell
Phone: +86-10- 5900-1548
Mr. Tip Fleming
SOURCE ZTO Express (Cayman) Inc.