香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及B類普通股。對於所有要求股東投票的事 宜，A類普通股持有人每股可投1票，而B類普通股持有人則每股可投10票。股東及有意投資者 務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存託股代表一股A 類普通股）於美國紐約證券交易所上市，股份代碼為ZTO。 本公告僅供參考，並不擬及不構成在任何司法權區（無論在香港、美國或其他地方）購買或認購 本公司任何證券之要約或邀請或其一部分，亦不得在與適用法律相抵觸之情況下於任何司法權 區出售、發行或轉讓本公司之證券。本公告並不構成向香港或任何其他司法管轄區的公眾提呈 出售本公司任何證券的招股章程、發售通函、通告、通函、宣傳冊或廣告，亦並非向公眾發出 邀請以就認購或購買本公司任何證券作出要約，亦非旨在邀請公眾就認購或購買本公司任何證 券作出要約。本公告不得被視為認購或購買本公司任何證券的勸誘，且並無意進行有關勸誘 ...

Core Viewpoint - ZTO Express has announced the pricing of US$1.5 billion in convertible senior notes due 2031, aimed at refinancing and share repurchase programs, reflecting the company's strategy to manage capital effectively and enhance shareholder value [1][2]. Group 1: Notes Offering Details - The Notes will bear an interest rate of 0.925% per year, payable semiannually, and will mature on March 1, 2031 [3]. - The initial conversion rate is set at 32.3130 Class A ordinary shares per US$1,000 principal amount of Notes, representing a conversion premium of approximately 35.0% above the closing price on February 4, 2026 [4]. - Holders can convert the Notes after a compliance period, with the company having the option to pay in cash, shares, or a combination upon conversion [5]. Group 2: Use of Proceeds - The net proceeds from the Notes Offering will be allocated as follows: up to US$1,000 million for share repurchases and approximately US$500 million for a concurrent share repurchase and other corporate purposes [2][12]. - The Concurrent Share Repurchase involves repurchasing 18,254,400 Class A ordinary shares at the closing price of HK$179.10 per share on February 4, 2026 [12]. Group 3: Redemption and Repurchase Rights - The company may redeem the Notes under specific conditions, including a Cleanup Redemption if less than 10% of the original principal remains outstanding [6]. - Holders have the right to require the company to repurchase their Notes in the event of a fundamental change or on March 1, 2029, at 100% of the principal amount plus accrued interest [7]. Group 4: Capped Call Transactions - The company has entered into capped call transactions to mitigate potential dilution upon conversion of the Notes, with an initial cap set at US$35.9906, representing a 57.0% premium over the last reported sale price [8][9]. - These transactions are expected to influence the market price of the Class A ordinary shares and the Notes, depending on various market conditions [10]. Group 5: Company Overview - ZTO Express is a leading express delivery company in China, providing extensive logistics services through a scalable network partner model [16][17]. - The company aims to support the growth of e-commerce in China by leveraging its network partners for delivery services while maintaining control over critical transportation and sorting operations [17].

中通表示，收入总额的估计增长主要受包裹量由2024年的340.1亿件增加至2025年的385.2亿件（同比增 长13.3%）所带动。 北京商报讯（记者 何倩）2月4日，中通发布公告，预计2025年收入总额介乎485亿元—500亿元，较 2024年的442.81亿元增长约9.5%—12.9%；预计2025年毛利介乎121.5亿元—125.5亿元，较2024年的 137.17亿元减少约8.5%—11.4%。 ...

Core Viewpoint - The company plans to issue $1.5 billion of convertible preferred notes due in 2031 to qualified institutional buyers outside the U.S. to refinance and repurchase its Class A common shares and/or American Depositary Shares, depending on market conditions and applicable laws [1] Group 1: Notes Issuance - The company intends to use the net proceeds from the notes issuance for refinancing, funding share repurchase plans, and other general corporate purposes [1] - The pricing of the notes is expected to involve a capped call transaction with one or more initial buyers, which may reduce potential dilution of Class A common shares upon conversion [2][3] - The company may engage in various derivative transactions related to its securities to modify its hedging positions, which could impact the market prices of its shares and notes [3] Group 2: Share Repurchase - The company plans to conduct a simultaneous share repurchase to facilitate initial hedging for note buyers, which is expected to mitigate negative stock price impacts typically observed after announcing the issuance of convertible notes [4][5] - The share repurchase will be conducted under the existing share repurchase plan, effective until June 30, 2026, with the purchase price based on the closing price of Class A common shares on February 4, 2026 [4] - The board believes that the repurchase activity reflects confidence in the company's long-term strategy and growth, aligning with the best interests of the company and its shareholders [6]

Core Viewpoint - The company plans to issue $1.5 billion of convertible preferred notes due in 2031 to qualified institutional buyers outside the U.S. to refinance and repurchase its Class A common shares and for general corporate purposes [1] Group 1: Notes Issuance - The company intends to use the net proceeds from the notes issuance to finance share repurchase plans, options premiums, and other general corporate purposes [1] - The pricing of the notes is expected to involve a call option transaction with initial buyers to mitigate potential dilution of Class A common shares upon conversion [2] - The company may engage in various derivative transactions related to its securities to adjust its hedging positions, which could impact the market prices of its shares and notes [3] Group 2: Share Repurchase - The company plans to conduct a simultaneous share repurchase to facilitate initial hedging for note buyers, which is expected to offset potential dilution from the notes conversion [4] - The share repurchase will be conducted under the existing share repurchase plan, effective until June 30, 2026, with the purchase price based on the closing price of Class A common shares on February 4, 2026 [4] - The repurchase activities are anticipated to alleviate negative stock price impacts typically observed after announcing the issuance of convertible notes [5] Group 3: Management Confidence - The board believes that the repurchase activity reflects confidence in the company's long-term strategy and growth, aligning with the best interests of the company and its shareholders [6]

收入总额的估计增长主要受包裹量由2024年的340.1亿件增加至2025年的385.2亿件(同比增长13.3%)所带 动。 格隆汇2月4日丨中通快递-W(02057.HK)公布2025年全年若干初步估计财务业绩，2025年，其收入总额 介乎人民币485亿元至人民币500亿元，较2024年的人民币442.807亿元增长约9.5%至12.9%；及2025年， 其毛利介乎人民币121.50亿元至人民币125.50亿元，较2024年的人民币137.171亿元减少约8.5%至 11.4%。 ...

收入总额的估计增长主要受包裹量由2024年的340.1亿件增加至2025年的385.2亿件(同比增长13.3%)所带 动。 智通财经APP讯，中通快递-W(02057)发布公告，本公司估计：2025年，其收入总额介于人民币485亿元 至人民币500亿元，较2024年的人民币442.807亿元增长约9.5%至12.9%;及2025年，其毛利介于人民币 121.5亿元至人民币125.5亿元，较2024年的人民币137.17亿元减少约8.5%至11.4%。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及B類普通股。對於需要股東投票的所有事 項，A類普通股持有人每股可投1票，而B類普通股持有人則每股可投10票。股東及有意投資者 務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存託股代表一股A 類普通股）於美國紐約證券交易所上市，代碼為ZTO。 ZTO Express (Cayman) Inc. 中通快遞（開曼）有限公司（「中通」或「本公司」）今日宣佈，擬根據1933年美國證 券法（經修訂）（「證券法」）S規例，在美國境外進行的離岸交易中向屬「合資格機 構買家」（定義見1933年美國證券法第144A條）的非美國人士發售（「票據發售事 項」）本金額合共15億美元的2031年到期的可換股優先票據（「票據」），視乎市況及 其他因素而定。 本公司計劃將票據發售事項所得款項淨額（扣除聯席賬簿管理人佣金及估計發售 費用後）用於以下用途：(i)用於再融資， ...

Core Viewpoint - ZTO Express (Cayman) Inc. announced a proposed offering of US$1.5 billion in convertible senior notes due 2031, aimed at refinancing and share repurchase programs, subject to market conditions [1][2]. Group 1: Notes Offering Details - The offering consists of US$1.5 billion in aggregate principal amount of convertible senior notes, which will be offered to non-U.S. persons as "qualified institutional buyers" [1]. - The notes will mature on March 1, 2031, and holders may convert them after a compliance period of 40 days from the original issuance [1][2]. - The company plans to use the net proceeds for refinancing, share repurchases, and general corporate purposes [1][2]. Group 2: Redemption and Repurchase Options - The company may redeem the notes for cash if less than 10% of the original principal amount remains outstanding or due to certain tax law changes [1]. - Holders have the option to require the company to repurchase any notes in the event of a "fundamental change" and can also request repurchase on March 1, 2029 [1][2]. Group 3: Concurrent Share Repurchase - Concurrently with the notes offering, the company plans to repurchase Class A ordinary shares from certain purchasers of the notes to facilitate initial hedging [2]. - The repurchase will be made at the closing price of the Class A ordinary share on the Hong Kong Stock Exchange on February 4, 2026 [2]. - The repurchase is expected to offset potential dilution to the holders of the company's ordinary shares upon conversion of the notes [2]. Group 4: Capped Call Transactions - The company expects to enter into capped call transactions to reduce potential dilution upon conversion of the notes [1][2]. - These transactions may involve purchasing hedges in privately negotiated transactions, which could affect the market price of the company's shares and notes [2]. Group 5: Company Overview - ZTO Express is a leading express delivery company in China, providing services through a scalable network partner model to support e-commerce growth [2]. - The company controls critical line-haul transportation and sorting networks while leveraging network partners for pickup and last-mile delivery [2].

Core Viewpoint - ZTO Express (Cayman) Inc. anticipates significant growth in total revenues and parcel volumes for the year 2025, driven by the increasing demand for express delivery services in China [1]. Financial Estimates - The estimated total revenues for 2025 are projected to range from RMB48,500.0 million to RMB50,000.0 million, reflecting an increase of approximately 9.5% to 12.9% from RMB44,280.7 million in 2024 [7]. - The estimated gross profit for 2025 is expected to range from RMB12,150.0 million to RMB12,550.0 million, indicating a decrease of approximately 8.5% to 11.4% from RMB13,717.1 million in 2024 [7]. - The company estimates parcel volumes will rise from 34.01 billion in 2024 to 38.52 billion in 2025, representing a year-over-year increase of 13.3% [1]. Company Overview - ZTO Express is recognized as a leading and fast-growing express delivery company in China, providing a wide range of logistics services through a reliable nationwide network [4]. - The company operates a scalable network partner model, which supports the growth of e-commerce in China by leveraging partners for pickup and last-mile delivery while managing critical transportation and sorting operations [5].