SHANGHAI, April 20,
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 provided an update on the status of the
previously announced independent investigation. As previously
disclosed, shortly after the publication of a report issued by the
short-seller firm Grizzly Research LLC ("Grizzly Research") on
March 2, 2023 (the "Initial Short
Seller Report"), the audit committee of the Company's board of
directors (the "Audit Committee") decided to conduct an independent
investigation into the allegations made in the Initial Short Seller
Report (the "Independent Investigation"). The Independent
Investigation was conducted by the Audit Committee with the
assistance of independent professional advisors, including an
international law firm and forensic accounting experts from a major
accounting firm that is not the Company's auditor. The Independent
Investigation also covered the allegations made in the additional
short seller report published by Grizzly Research on March 17, 2023 (the "Additional Short Seller
Report"). The Independent Investigation is now substantially
complete. Based on findings of the Independent Investigation, the
Audit Committee has concluded that the allegations in the Initial
Short Seller Report and Additional Short Seller Report are not
substantiated.
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
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SOURCE ZTO Express (Cayman) Inc.