Press release
Investigation announced for Investors in shares of ZTO Express (Cayman) Inc. (NASDAQ: ZTO)
An investigation for investors in ZTO Express (Cayman) Inc. (NASDAQ: ZTO) shares over potential securities laws violations.
Investors who purchased shares of ZTO Express (Cayman) Inc. (NASDAQ: ZTO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by ZTO Express (Cayman) Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based ZTO Express (Cayman) Inc. provides express delivery and other value-added logistics services in the People's Republic of China. ZTO Express (Cayman) Inc reported that its annual Total Revenue rose from over 25.21 billion CNY in 2020 to over 30.4 billion CNY in 2021 and that its Net income increased from over 4.31 billion CNY in 2020 to over 4.75 billion CNY in 2021.
On March 2, 2023, market analyst Grizzly Research published a report on ZTO Express (Cayman) Inc called "ZTO Express Inc. (NYSE: ZTO): China's "Best-in-Class" Logistics Company is Really "Best in Show"; We Believe Financials are Fake and Insiders are Stealing from the Company." The report alleged that ZTO Express (Cayman) Inc has falsified various financial metrics in its Securities & Exchange Commission ("SEC") filings, including its margins, by understating revenues and overstating net profit. Further, the report alleged, among other things, that ZTO Express underreports employees to decrease its costs, that its utilizes "sham network partner acquisitions to enrich insiders" and engages in undisclosed related party transactions.
Shares of ZTO Express (Cayman) Inc. (NASDAQ: ZTO) closed on March 06, 2023 at $25.47 per share.
Those who purchased shares of ZTO Express (Cayman) Inc. (NASDAQ: ZTO) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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