SHANGHAI, Oct. 12, 2017 /PRNewswire/ Korea IT Times-- ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company"), a leading express delivery company in China, today announced that it is implementing certain increases in the prices of its delivery services, effective October 10, 2017.
Specifically, the Company will increase the last mile delivery fees payable by the parcel pick-up outlets to the delivery outlets, and the network transit fees payable by its network partners to the Company for its services. The expected increase in fees varies by parcel weight and geographic location.
Mr. Meisong Lai, Chairman and Chief Executive Officer of ZTO, commented "This year, the express delivery industry in China continues to see transportation, labor and raw material costs increase. To enhance service quality, protect the interests of our customers, and offset rising costs and increased fees, ZTO network partners are expected to increase their delivery service prices. I am confident that this increase in price will aid in further improving the stability of our network and enhance service quality while helping to create a healthier and more sustainable market environment."
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 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:
Ms. Sophie Li
Investor Relations Department
Mr. Christian Arnell
Mr. Tip Fleming