ZTO Express-W Adjusts Conversion Price for 2031 Convertible Bonds to Approximately US$30.4589 per Share

Stock News07:14

ZTO Express-W (02057) has announced an adjustment to the conversion price for its 0.925% convertible bonds due 2031, following the declaration of a semi-annual cash dividend. The adjustment is made pursuant to the bond terms and conditions.

Referencing the company's earlier announcement dated March 18, 2026, regarding the board's approval of a semi-annual cash dividend of US$0.39 per American Depositary Share and per ordinary share for the six months ended December 31, 2025, the conversion ratio of the bonds has been modified.

The conversion ratio has been adjusted from 32.3130 shares per US$1,000 principal amount of bonds, which equated to a conversion price of approximately US$30.9473 per share, to 32.8311 shares per US$1,000 principal amount. This results in a revised conversion price of approximately US$30.4589 per share.

This adjustment became effective on April 8, 2026, which is the dividend record date.

Based on the total outstanding principal amount of the bonds of US$1.5 billion as of the announcement date and the new conversion price, the maximum number of shares that could be issued upon full conversion of the bonds has increased from approximately 48.4695 million shares to approximately 49.2467 million shares.

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