ZTO Express-W (ZTO Express (Cayman) Inc.) filed a Next Day Disclosure Return dated 16 September 2026 detailing its latest share–capital movements and repurchase activity.

Key takeaways

1. Share capital structure • Issued Class A ordinary shares unchanged at 557.33 million as of 15 September 2026. • Issued Class B ordinary shares remain at 206.10 million, leaving total issued share capital at 763.43 million. • No treasury shares were held as of the reporting date.

2. Recent repurchase activity (not yet cancelled) Between 12 August and 15 September 2026 the company bought back 5.95 million American depositary shares (ADSs), each representing one Class A ordinary share. • Latest transaction (15 September 2026, NYSE): 497,311 ADSs repurchased at prices between USD 20.44 and USD 20.75, for a total consideration of USD 10.22 million. • Volume-weighted repurchase prices during the period ranged from USD 20.55 to USD 23.00 per ADS.

3. Authorised mandate utilisation • Shareholders approved a repurchase mandate on 16 June 2026 covering up to 76.60 million shares. • Cumulative repurchases under this mandate now stand at 9.71 million shares, equivalent to 1.27 % of the issued share capital as of the mandate date. • The company is restricted from issuing new shares or selling treasury shares until 15 October 2026, in line with Hong Kong Listing Rule 10.06(3)(a).

4. Impact on outstanding shares Despite the buybacks, the headline share count remains unchanged because the repurchased shares have not yet been cancelled. Cancellation, once completed, will reduce the issued Class A share count and the company’s total share capital accordingly.

All repurchases were executed on the New York Stock Exchange and complied with Hong Kong Stock Exchange listing rules as well as relevant U.S. market regulations.