SHANGHAI, May 5, 2022
/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 provides an update on its status under the Holding Foreign
Companies Accountable Act (the "HFCAA").
The Company was provisionally named by the U.S. Securities and
Exchange Commission (the "SEC") under the HFCAA on May 4, 2022 as a Commission-Identified Issuer,
following the Company's filing of the annual report on Form 20-F
for the fiscal year ended December 31,
2021 with the SEC on April 28,
2022.
The Company understands that this identification indicates that
the SEC determines that the Company as well as other
Commission-Identified Issuers used an auditor whose working paper
cannot be inspected or investigated completely by the Public
Company Accounting Oversight Board ("PCAOB") to issue the audit
opinion for its financial statements for the fiscal year ended
December 31, 2021.
In accordance with the HFCAA, the SEC will prohibit a company's
shares or American depositary shares from being traded on a
national stock exchange or in the over-the-counter trading market
in the United States if the
company has been identified by the SEC for three consecutive years
due to PCAOB's inability to inspect the auditor's working
paper.
The Company has been actively exploring possible solutions to
protect the interest of its stakeholders. The Company will continue
to comply with applicable laws and regulations in both China and the United
States, and strive to maintain its listing status on both
the New York Stock Exchange and The Stock Exchange of Hong Kong
Limited.
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 SEC in its interim and annual reports to
shareholders, in announcements, circulars or other publications
made on the website of the Main Board of the Hong Kong Stock
Exchange (the "HKEX") 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 HKEX. 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.