ZTO Express (Cayman) Inc. (ZTO Express) has filed a Next Day Disclosure Return with the Hong Kong Stock Exchange dated 26 October 2026, confirming that its issued share capital remained unchanged while the company continued to execute its authorised share-repurchase programme.
Key takeaways
1. Issued Share Capital • Opening and closing balances for Class A ordinary shares held steady at 557.33 million as of 22 and 23 October 2026, respectively. • Total issued share count, including 206.10 million Class B shares, stood unchanged at 763.43 million.
2. Ongoing Share-Repurchase Activity • On 23 October 2026 (U.S. time), ZTO Express repurchased 199,579 American Depositary Shares (ADSs), each representing one Class A ordinary share, on the New York Stock Exchange. • Purchase price range: USD 19.87–USD 19.99 per ADS, with an aggregate consideration of approximately USD 3.98 million. • These shares are designated for cancellation.
3. Cumulative Progress under 2026 Mandate • Since the current repurchase mandate was approved on 16 June 2026, the company has acquired a total of 16.73 million shares, equivalent to 2.18 % of the outstanding share base at the mandate date. • The mandate permits repurchases of up to 76.60 million shares, leaving a remaining capacity of about 59.87 million shares.
4. Shares Pending Cancellation • Between 12 August and 23 October 2026, ZTO Express bought back 14.16 million ADSs that have not yet been cancelled. Repurchase prices over this period ranged from USD 19.26 to USD 23.00 per ADS.
5. Compliance and Moratorium • The board confirmed that all repurchases were executed in accordance with Hong Kong Listing Rules and U.S. exchange regulations, with all requisite funds settled. • Following the 23 October transaction, the company is restricted from issuing new shares or selling treasury shares until 22 November 2026, in line with HKEX Rule 10.06(3)(a).
Perspective ZTO Express’s continued utilisation of its buyback authorisation—amounting to more than one-fifth of the approved limit—signals an active capital-management stance, while the static share count reflects the pending cancellation of repurchased shares. Market observers will monitor future filings to gauge the pace of cancellations and any additional buyback activity ahead of the mandate’s expiry.
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