ZTO Express launches independent investigation into short seller report

ZTO Express announced that following its previous statement in response to the allegations made in a report issued by the short-seller firm Grizzly Research on March 2, the audit committee of the company’s board of directors, after having reviewed the allegations, at the recommendation of the management of the company and in order to protect the interests of all shareholders, has decided to conduct an independent investigation into the allegations made in the short seller report. The company said, "The Audit Committee has engaged and will be assisted by independent professional advisors, including an international law firm and a forensic accounting firm that is not the Company’s auditor. The Company will provide updates on the Independent Investigation in due course consistent with the requirements of applicable rules and regulations of the Securities and Exchange Commission, the New York Stock Exchange, and The Stock Exchange of Hong Kong Limited. The Company reiterates its continued and unwavering commitment to maintaining high standards of corporate governance and internal control, as well as transparent and timely disclosure in compliance with applicable rules and regulations."