4.5 Billion Parcels Expanded Market Share to 20.4%

SHANGHAI, May 19, 2021 /PRNewswire/ --ZTO Express (Cayman) Inc. (NYSE:ZTO and SEHK: 2057), a leading and fast-growing express delivery company inChina("ZTO" or the "Company"), today announced its unaudited financial results for the first quarter endedMarch 31, 2021[1]. The Company delivered a parcel volume growth of 88.5% and expanded market share by 1.5 percentage points to 20.4% while maintaining high quality of service and customer satisfaction. Adjusted net income beat market expectations by growing 23.1% to reachRMB781.6 million. Cash generated from operating activities wasRMB477.0 million.

First Quarter 2021 Financial Highlights

• Revenues were RMB6,472.5 million(US$987.9 million), an increase of 65.3% fromRMB3,915.9 millionin the same period of 2020.
• Gross profit wasRMB1,096.5 million(US$167.4 million), an increase of 33.9% fromRMB818.7 millionin the same period of 2020.
• Net income wasRMB533.5 million(US$81.4 million), an increase of 43.8% fromRMB371.0 millionin the same period of 2020.
• Adjusted EBITDA[2]wasRMB1,468.1 million(US$224.1 million), an increase of 25.1% fromRMB1,173.4 millionin the same period of 2020.
• Adjusted net income[3]wasRMB781.6 million(US$119.3 million), an increase of 23.1% fromRMB635.1 millionin the same period of 2020.
• Basic and diluted earnings per American depositary share ("ADS"[4]) wereRMB0.64(US$0.10), an increase of 33.3% fromRMB0.48in the same period of 2020.
• Adjusted basic and diluted earnings per American depositary share[5]attributable to ordinary shareholders wereRMB0.94(US$0.14), an increase of 14.6% fromRMB0.82in the same period of 2020.
• Net cash provided by operating activities wasRMB477.0 million(US$72.8 million), compared withRMB177.8 millionin the same period of 2020.

Operational Highlights for First Quarter 2021

• Parcel volume was 4,475 million, an increase of 88.5% from 2,374 million in the same period of 2020.
• Number of pickup/delivery outlets was approximately 30,000 as ofMarch 31, 2021.
• Number of direct network partners was over 5,350 as ofMarch 31, 2021.
• Number of line-haul vehicles was over 10,450 as ofMarch 31, 2021, which included over 10,050 self-owned vehicles and approximately 400 vehicles owned and operated by Tonglu Tongze Logistics Ltd., a transportation operator that works exclusively for ZTO.
• Out of the over 10,050 self-owned trucks, over 8,100 were high capacity 15 to 17-meter-long models as ofMarch 31, 2021, compared to approximately 7,900 as ofDecember 31, 2020.
• Number of line-haul routes between sorting hubs was over 3,650 as ofMarch 31, 2021, compared to over 3,600 as ofDecember 31, 2020.
• Number of sorting hubs was 95 as ofMarch 31, 2021, among which 84 are operated by the Company and 11 by the Company's network partners.

ZTO shares rose 3.81% in after hour trading.