ZTO Express
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: 24,477
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
333% more call options, than puts
Call options by funds: $139M | Put options by funds: $32.2M
8.2% less ownership
Funds ownership: 22.51% [Q1] → 14.31% (-8.2%) [Q2]
12% less funds holding
Funds holding: 202 [Q1] → 178 (-24) [Q2]
30% less repeat investments, than reductions
Existing positions increased: 54 | Existing positions reduced: 77
43% less capital invested
Capital invested by funds: $2.67B [Q1] → $1.52B (-$1.15B) [Q2]
47% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 38
64% less funds holding in top 10
Funds holding in top 10: 11 [Q1] → 4 (-7) [Q2]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
B of A Securities Fan Tso | 15%upside $22 | Neutral Maintained | 20 Aug 2025 |
JP Morgan Lin Chen | 9%upside $21 | Overweight Upgraded | 29 May 2025 |
Financial journalist opinion
Based on 7 articles about ZTO published over the past 30 days









