FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20260721E00520 
1. Date of relevant event: 16/07/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later): 20/07/2026
(dd/mm/yyyy)
3. Stock code: 02057
4. Name of listed corporation: ZTO Express (Cayman) Inc. - W 
5. Class of shares: Others 
6. Number of issued shares in class: 563,800,693
7. Name of substantial shareholder: JPMorgan Chase & Co. 
8. Registered office: 270 Park Avenue, New York, New York, NY, 10017, United States
9. Principal place of business in Hong Kong: N/A 
15. Exchange on which listed: New York Stock Exchange
16. Name of listed parent and exchange on which parent is listed: N/A 
17. Details of relevant event:
  Brief description of relevant event Capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price (per share) Average price (per share) Average consideration (per share) Nature of consideration
Long position
1104The percentage level of your interest in the shares has increased because:
you acquired a security interest in the shares
2201Interest of corporation controlled by you
2201Interest of corporation controlled by you
 1,139,330 HKD 196.1000 194.1018 193.2420
3101Cash
Short position 
1402You came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased because:
you borrowed the shares under a securities borrowing and lending agreement
 
2201Interest of corporation controlled by you
 
2201Interest of corporation controlled by you
 		 1,359,947           
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position39,132,8736.94
Short position21,549,6263.82
Lending Pool10,548,5191.87
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position40,272,2037.14
Short position22,909,5734.06
Lending Pool10,328,6341.83
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2101Beneficial owner
Long position23,743,104
Short position22,905,161
2102Investment manager
Long position3,840,061
Short position4,412
2106Person having a security interest in shares
Long position2,353,183
Short position0
2301Trustee
Long position7,221
Short position0
2502Approved lending agent
Long position10,328,634
Short position0

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4101Listed derivatives - Physically settled
Long position1,360,065
Short position1,235,066
4102Listed derivatives - Cash settled
Long position18,966
Short position19,066
4105Unlisted derivatives - Physically settled
Long position30,900
Short position61,800
4106Unlisted derivatives - Cash settled
Long position4,030,879
Short position1,530,425
4103Listed derivatives - Convertible instruments
Long position9,256,947
Short position6,443,103
22. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling person% controlDirect interest (Y/N)Number of shares
JPMorgan Asset Management (Taiwan) Limited20F & 21, No.1 Song Zhi Rd, Xin Yi District, Taipei City, Taiwan. Taipei 110 Taiwan (Province of China)JPMorgan Asset Management (Asia) Inc.100.00Y
Long position74,900
Short position0
J.P. Morgan SETaunusTurm Taunustor 1 Frankfurt am Main Frankfurt 60310 GermanyJ.P. Morgan International Finance Limited100.00Y
Long position1,054,031
Short position1,046,556
J.P. MORGAN MARKETS LIMITED25 Bank Street Canary Wharf London E14 5JP EnglandJ.P. MORGAN FINANCIAL INVESTMENTS LIMITED100.00Y
Long position728
Short position0
J.P. Morgan Securities LLC270 Park Avenue New York NY 10017 United StatesJ.P. Morgan Broker-Dealer Holdings Inc.100.00Y
Long position9,297,274
Short position7,043,513
JPMORGAN ASSET MANAGEMENT (UK) LIMITED60 Victoria Embankment London EC4Y0JP EnglandJPMORGAN ASSET MANAGEMENT INTERNATIONAL LIMITED100.00Y
Long position148,400
Short position4,373
Almea 2 Segregated Portfolio Company270 Park Avenue New York NY 10017 United StatesJ.P. MORGAN MARKETS LIMITED100.00Y
Long position34,837
Short position0
J.P. Morgan Investment Management Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Asset Management Holdings Inc.100.00Y
Long position972,875
Short position0
J.P. Morgan Prime Inc.270 Park Avenue New York NY 10017 United StatesJ.P. Morgan Securities LLC100.00Y
Long position38,461
Short position38,461
JPMorgan Asset Management (Japan) LimitedTokyo Building, 7-3 Marunouchi 2 Chome, Chiyoda-ku, Tokyo 100 6432 JapanJPMorgan Asset Management (Asia) Inc.100.00Y
Long position267,900
Short position0
J.P. Morgan Trust Company of Delaware500 Stanton Christiana Road Newark DE 19713-2107 United StatesJPMorgan Chase Holdings LLC100.00Y
Long position7,221
Short position0
JPMorgan Chase Bank, National Association1111 Polaris Parkway Columbus OH 43240 United StatesJPMorgan Chase & Co.100.00Y
Long position10,741,238
Short position0
J.P. Morgan Alternative Asset Management, Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Asset Management Holdings Inc.100.00Y
Long position2,293
Short position0
JPMorgan Asset Management (Asia Pacific) Limited19 & 20/F, Chater House 8 Connaught Road Central Hong Kong Hong KongJPMorgan Asset Management (Asia) Inc.100.00Y
Long position1,961,089
Short position39
J.P. MORGAN SECURITIES PLC25 Bank Street Canary Wharf London E14 5JP EnglandJ.P. MORGAN CAPITAL HOLDINGS LIMITED100.00Y
Long position15,670,956
Short position14,776,631
JPMorgan Asset Management (Asia) Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Asset Management Holdings Inc.100.00N
Long position2,303,889
Short position39
JPMorgan Asset Management Holdings Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Chase Holdings LLC100.00N
Long position3,427,457
Short position4,412
JPMorgan Chase Holdings LLC270 Park Avenue New York NY 10017 United StatesJPMorgan Chase & Co.100.00N
Long position12,805,978
Short position7,086,386
J.P. Morgan International Finance Limited270 Park Avenue New York NY 10017 United StatesJPMorgan Chase Bank, National Association100.00N
Long position16,724,987
Short position15,823,187
JPMorgan Chase Bank, National Association1111 Polaris Parkway Columbus OH 43240 United StatesJPMorgan Chase & Co.100.00N
Long position16,724,987
Short position15,823,187
J.P. MORGAN FINANCIAL INVESTMENTS LIMITED25 Bank Street Canary Wharf London E14 5JP EnglandJPMorgan Chase Holdings LLC100.00N
Long position35,565
Short position0
J.P. Morgan Broker-Dealer Holdings Inc.4 Chase Metrotech Center 4th Floor Brooklyn NY 11245 United StatesJPMorgan Chase Holdings LLC100.00N
Long position9,335,735
Short position7,081,974
JPMORGAN ASSET MANAGEMENT INTERNATIONAL LIMITED60 Victoria Embankment London EC4Y0JP EnglandJPMorgan Asset Management Holdings Inc.100.00N
Long position148,400
Short position4,373
J.P. MORGAN MARKETS LIMITED25 Bank Street Canary Wharf London E14 5JP EnglandJ.P. MORGAN FINANCIAL INVESTMENTS LIMITED100.00N
Long position34,837
Short position0
J.P. Morgan Securities LLC270 Park Avenue New York NY 10017 United StatesJ.P. Morgan Broker-Dealer Holdings Inc.100.00N
Long position38,461
Short position38,461
J.P. MORGAN CAPITAL HOLDINGS LIMITED25 Bank Street Canary Wharf London E14 5JP EnglandJ.P. Morgan International Finance Limited100.00N
Long position15,670,956
Short position14,776,631

23. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
 
24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:
Names of trustAddressStatus codeNumber of shares
N/AAddresses of individuals are not displayed.
5101Trustee of a trust
Long position7,221
Short position0
25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):
Names of other partiesAddressNumber of shares
 
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:
NamesAddressRelationship CodePercentage (%)
  
 
27. Supplementary information: As of date of relevant event, ZTO EXPRESS CAYMAN INC issued share capital 563800693 of class A shares.
28. Log/Serial Number of the previous form:
29. Number of concert party document(s) under section 317 attached/uploaded:
Date of filing this Form 2: 21/07/2026
(dd/mm/yyyy)