SHANGHAI, March 9,
2023 /PRNewswire/ -- ZTO Express (Cayman) Inc.
(NYSE: ZTO and SEHK: 2057), a leading and fast-growing express
delivery company in China ("ZTO"
or the "Company"), today announced that following its previous
statement in response to the allegations made in a report issued by
the short-seller firm Grizzly Research LLC on March 2, 2023 (the "Short Seller Report"),
the audit committee of the Company's board of directors (the
"Audit Committee"), after having reviewed the allegations,
at the recommendation of the management of the Company and in order
to protect the interests of all shareholders, has decided to
conduct an independent investigation into the allegations made in
the Short Seller Report (the "Independent Investigation").
The Audit Committee has engaged and will be assisted by independent
professional advisors, including an international law firm and a
forensic accounting firm that is not the Company's auditor.
The Company will provide updates on the Independent
Investigation in due course consistent with the requirements of
applicable rules and regulations of the Securities and Exchange
Commission, the New York Stock Exchange, and The Stock Exchange of
Hong Kong Limited.
The Company reiterates its continued and unwavering commitment
to maintaining high standards of corporate governance and internal
control, as well as transparent and timely disclosure in compliance
with applicable rules and regulations.
About ZTO
ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK:2057)
("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.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. ZTO may also make forward-looking statements in the Company's
periodic reports to the U.S. Securities and Exchange Commission
(the "SEC"), in its interim and annual reports to shareholders, in
announcements, circulars or other publications made on the website
of The Stock Exchange of Hong Kong Limited (the " Hong Kong Stock
Exchange" ), 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 the Company's beliefs and expectations, are
forward-looking statements. These forward-looking statements can be
identified by terminology, such as " will," " expects,"
" anticipates," " future," " intends," "
plans," " believes," " confidence," "
estimates," "likely to" and similar statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, the development of the
e-commerce industry in China, its
significant reliance on the Alibaba ecosystem, risks associated
with its network partners and their employees and personnel,
intense competition which could adversely affect the Company's
results of operations and market share, any service disruption of
the Company's sorting hubs or the outlets operated by its network
partners or its technology system. Further information regarding
these and other risks is included in ZTO's annual report on Form
20-Fs and other filings with the SEC and the Hong Kong Stock
Exchange. All information provided in this press release is current
as of the date hereof, and ZTO assumes no obligation to update such
information, except as required under applicable law.
For investor and media inquiries, please contact:
ZTO Express (Cayman) Inc.
Investor Relations
E-mail: ir@zto.com
Phone: +86 21 5980 4508
View original
content:https://www.prnewswire.com/news-releases/zto-provides-updates-on-response-to-short-seller-report-301768611.html
SOURCE ZTO Express (Cayman) Inc.