| BABAF |
Alibaba Group Holding Limited |
72%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| BABAF |
Alibaba Group Holding Limited |
72%
|
Reciprocal relationship from BABAF graph: Reciprocal relationship from ZTO graph: Reciprocal relationship from BABAF graph: Reciprocal relationship from ZTO graph: Reciprocal relationship from BABAF … |
| VIPS |
Vipshop Holdings Limited |
72%
|
a statutory rate of 25%. This 25% rate applies to most of our subsidiaries and consolidated affiliated entities established in China. Some of our subsidiaries and consolidated affiliated entities are… |
| VIPS |
Vipshop Holdings Limited |
72%
|
Reciprocal relationship from VIPS graph: Reciprocal relationship from ZTO graph: a statutory rate of 25%. This 25% rate applies to most of our subsidiaries and consolidated affiliated entities establ… |
| ALIBABA |
ALIBABA |
70%
|
If Alibaba encourages the use of other delivery networks or its own delivery network over ours, our business may be negatively impacted |
| BEIJING-ZTO-DAYING-LOGISTICS-CO-LTD |
BEIJING-ZTO-DAYING-LOGISTICS-CO-LTD |
62%
|
a statutory rate of 25%. This 25% rate applies to most of our subsidiaries and consolidated affiliated entities established in China. Some of our subsidiaries and consolidated affiliated entities are… |
| CENTRAL-LEADING-GROUP |
CENTRAL-LEADING-GROUP |
62%
|
We hold bidding processes where possible to select products and services with the best value. We provide favorable payment terms in exchange for discounts and to promote long-term stable relationship… |
| CHINA-ORIENTAL-EXPRESS-CO |
CHINA-ORIENTAL-EXPRESS-CO |
62%
|
e application for such offering and listing is submitted to overseas regulators and foreign stock exchanges. If we are not able to comply with the requirements under the laws, administrative regulati… |
| CHINA-ORIENTAL-EXPRESS-CO-LTD |
CHINA-ORIENTAL-EXPRESS-CO-LTD |
62%
|
ers to parcel senders partially due to decreasing unit operational costs and market competition. We have been able to adjust the level of network transit fees based on market conditions and our opera… |
| CHINA-POST-GROUP |
CHINA-POST-GROUP |
62%
|
y affect our reputation and materially and adversely affect our business, financial condition and results of operations. We may also be held liable under successor liability for violations committed … |
| HONG-KONG-LIMITED |
HONG-KONG-LIMITED |
62%
|
terial adverse effect on our business. Negative publicity about us, including our services, management, business model and practices, compliance with applicable rules, regulations and policies, or ou… |
| LMS-HOLDING-LIMITED |
LMS-HOLDING-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| NATURAL-RESOURCES |
NATURAL-RESOURCES |
62%
|
the areas of foreign investment, cybersecurity, data security and etc., and duly fulfill their obligations to protect national security. If the intended overseas offering and listing necessitates a n… |
| NYSE-LISTED-COMPANY |
NYSE-LISTED-COMPANY |
62%
|
s Related to Our Shares and ADSs ● The trading prices of our ADSs and Class A ordinary shares have been and are likely to continue to be volatile, which could result in substantial losses to holders … |
| OVERSEAS-PUBLICLY-LISTED-COMPANY |
OVERSEAS-PUBLICLY-LISTED-COMPANY |
62%
|
y affect our reputation and materially and adversely affect our business, financial condition and results of operations. We may also be held liable under successor liability for violations committed … |
| SHANGHAI-ZHONGTONGJI-EXPRESS-SERVICE-CO-LTD |
SHANGHAI-ZHONGTONGJI-EXPRESS-SERVICE-CO-LTD |
62%
|
terial adverse effect on our business. Negative publicity about us, including our services, management, business model and practices, compliance with applicable rules, regulations and policies, or ou… |
| SHANGHAI-ZHONGTONGJI-LOGISTICS-CO-LTD |
SHANGHAI-ZHONGTONGJI-LOGISTICS-CO-LTD |
62%
|
s Delivery, the Postal Law and the Anti-Terrorism Law, if any express delivery operator fails to verify the identity of senders yet registers their identity information, or identifies that the sender… |
| SHANGHAI-ZHONGTONGJI-NETWORK-TECHNOLOGY-CO-LTD |
SHANGHAI-ZHONGTONGJI-NETWORK-TECHNOLOGY-CO-LTD |
62%
|
Item 19. EXHIBITS 152 SIGNATURES 154 i Table of Contents INTRODUCTION ZTO Express (Cayman) Inc., which we refer to as ZTO, is not a Chinese operating company but rather a Cayman Islands h… |
| SINGAPORE-LIMITED |
SINGAPORE-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| ZHEJIANG-CO-LTD |
ZHEJIANG-CO-LTD |
62%
|
logy Co., Ltd. and its subsidiaries 274,256 203,071 326,105 Others 66,655 110,934 92,452 Total 594,859 314,005 418,557 Cost of revenues: Transportation service fees paid… |
| ZHEJIANG-XINGLIAN-AIR-FREIGHT-CO-LTD |
ZHEJIANG-XINGLIAN-AIR-FREIGHT-CO-LTD |
62%
|
. We invested RMB108.0 million in ZTO Yun Leng Network Technology (Zhejiang) Co., Ltd., or ZTO Yunleng, for 18% equity interests in it. In November 2025, Zhongtong Yunleng sold out its 100% equity in… |
| ZTO-AVIATION-CO-LTD |
ZTO-AVIATION-CO-LTD |
62%
|
. We invested RMB108.0 million in ZTO Yun Leng Network Technology (Zhejiang) Co., Ltd., or ZTO Yunleng, for 18% equity interests in it. In November 2025, Zhongtong Yunleng sold out its 100% equity in… |
| ZTO-ES-ZTO-LMS-HOLDING-LIMITED |
ZTO-ES-ZTO-LMS-HOLDING-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| ZTO-ES-ZTO-WJL-HOLDING-LIMITED |
ZTO-ES-ZTO-WJL-HOLDING-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| ZTO-EXPRESS-CO-LTD |
ZTO-EXPRESS-CO-LTD |
62%
|
egal system in the jurisdiction where we operate, including risks and uncertainties regarding the enforcement of laws and quickly evolving rules and regulations in the jurisdiction where we operate, … |
| ZTO-EXPRESS-LIMITED |
ZTO-EXPRESS-LIMITED |
62%
|
terial adverse effect on our business. Negative publicity about us, including our services, management, business model and practices, compliance with applicable rules, regulations and policies, or ou… |
| ZTO-LJF-HOLDING-LIMITED |
ZTO-LJF-HOLDING-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| ZTO-LMS-HOLDING-LIMITED |
ZTO-LMS-HOLDING-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
| ZTO-WJL-HOLDING-LIMITED |
ZTO-WJL-HOLDING-LIMITED |
62%
|
slands. Under the PRC Civil Procedures Law, foreign shareholders may originate actions based on PRC law against a company in China for disputes if they can establish sufficient nexus to the PRC for a… |
