ZTO Express (ZTO)

• Market cap: $15B
• 1 day: 0.27%
• 5 days: 6.39%
• 1 month: -9.26%
• 3 months: -1.47%
• 6 months: -24.06%
• Year to date: -1.16%
• 1 year: -2.59%
• 5 years: -34.66%
• 10 years: 13.52%
• Sector: Industrials
• Industry: Integrated Freight & Logistics

About: ZTO Express is China's largest express delivery company by parcel volume, with a volume share of 22.1% in 2022. It operates a network partner model where it provides line-haul transportation and sorting services, while its local network partners provide first-mile pickup and last-mile delivery services under the ZTO brand name. Headquartered in Shanghai, the company was founded in 2002 by Meisong Lai, who remains chair, CEO, and its major shareholder with 77% voting rights as of June 30, 2023. ZTO's strategic shareholder is leading China e-commerce company Alibaba Group with around an 11.7% interest.

Employees: 23,554

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

1,039% more call options, than puts

Call options by funds: $329M | Put options by funds: $28.9M

3.0% less ownership

Funds ownership: 27.38% [Q3] → 24.37% (-3.0%) [Q4]

17% less funds holding

Funds holding: 236 [Q3] → 197 (-39) [Q4]

20% less funds holding in top 10

Funds holding in top 10: 10 [Q3] → 8 (-2) [Q4]

30% less capital invested

Capital invested by funds: $4.1B [Q3] → $2.88B (-$1.22B) [Q4]

30% less repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 83

56% less first-time investments, than exits

New positions opened: 27 | Existing positions closed: 62

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $22 17% upside
• Avg. target: $23 20% upside
• High target: $23 22% upside

2 analyst ratings

• positive: 1 50%
• neutral: 1 50%
• negative: 0 0%

HSBC Parash Jain 33% 1-year accuracy 1 / 3 met price target	17% upside $22	Buy Upgraded	14 Apr 2025
JP Morgan Lin Chen 0% 1-year accuracy 0 / 1 met price target	22% upside $23	Neutral Downgraded	20 Mar 2025