FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20261106E00045 
1. Date of relevant event: 03/11/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):
(dd/mm/yyyy)
3. Stock code: 02057
4. Name of listed corporation: ZTO Express (Cayman) Inc. - W 
5. Class of shares: A Shares 
6. Number of issued shares in class: 557,330,906
7. Name of substantial shareholder: BlackRock, Inc. 
8. Registered office: 251 Little Falls Drive, Wilmington, DE 19808
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
1313There has been a change in nature of your interest in the shares because:
you have lent the shares under a securities borrowing and lending agreement
2201Interest of corporation controlled by you
2201Interest of corporation controlled by you
 292,500 HKD
Short position 
 
 
 		            
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position28,214,8525.06
Short position1,026,9570.18
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position28,214,8525.06
Short position1,026,9570.18
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2201Interest of corporation controlled by you
Long position28,214,852
Short position1,026,957

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4106Unlisted derivatives - Cash settled
Long position3,417,589
Short position991,957
4103Listed derivatives - Convertible instruments
Long position1,774,520
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
BlackRock Saturn Subco, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock, Inc.100.00N
Long position28,214,852
Short position1,026,957
BlackRock Finance, Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Saturn Subco, LLC100.00N
Long position28,214,852
Short position1,026,957
Trident Merger, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock Finance, Inc.100.00N
Long position569,479
Short position15,000
BlackRock Investment Management, LLC251 Little Falls Dr, Wilmington, DE 19808Trident Merger, LLC100.00N
Long position389,068
BlackRock Investment Management, LLC251 Little Falls Dr, Wilmington, DE 19808Trident Merger, LLC100.00Y
Long position180,114
Short position15,000
BlackRock Holdco 2, Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Finance, Inc.100.00N
Long position27,645,373
Short position1,011,957
BlackRock Financial Management, Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Holdco 2, Inc.100.00N
Long position24,409,327
Short position774,407
BlackRock Financial Management, Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Holdco 2, Inc.100.00Y
Long position3,236,046
Short position237,550
BlackRock Holdco 4, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock Financial Management, Inc.100.00N
Long position12,755,773
Short position367,800
BlackRock Holdco 6, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock Holdco 4, LLC90.00N
Long position12,755,773
Short position367,800
BlackRock Delaware Holdings Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Holdco 6, LLC100.00N
Long position12,755,773
Short position367,800
BlackRock Institutional Trust Company, National Association400 Howard Street, San Francisco, CA 94105BlackRock Delaware Holdings Inc.100.00Y
Long position5,159,843
Short position367,800
BlackRock Fund Advisors400 Howard Street, San Francisco, CA 94105BlackRock Delaware Holdings Inc.100.00Y
Long position7,595,930
BlackRock Capital Holdings, Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Financial Management, Inc.100.00N
Long position1,143,833
Short position232,550
BlackRock Advisors, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock Capital Holdings, Inc.100.00Y
Long position1,143,833
Short position232,550
BlackRock International Holdings, Inc.251 Little Falls Dr, Wilmington, DE 19808BlackRock Financial Management, Inc.100.00N
Long position10,509,721
Short position174,057
BR Jersey International Holdings L.P.Aztec Group House, IFC 6, The Esplanade, St Helier, Jersey, JE4 0QHBlackRock International Holdings, Inc.86.00N
Long position10,356,412
Short position171,407
BlackRock Lux Finco S.à r.l.1st Floor, 35a Avenue J.F. Kennedy, L-1855 LuxembourgBlackRock HK Holdco Limited100.00N
Long position389,047
BlackRock Japan Holdings GKMarunouchi Trust Tower Main, 1-8-3 Marunouchi, Chiyoda-ku, Tokyo 100-8217 (Japan)BlackRock Lux Finco S.à r.l.100.00N
Long position386,997
BlackRock Japan Co., Ltd.Marunouchi Trust Tower Main, 1-8-3 Marunouchi, Chiyoda-ku, Tokyo 100-8217 (Japan)BlackRock Japan Holdings GK100.00Y
Long position386,997
BlackRock Holdco 3, LLC251 Little Falls Dr, Wilmington, DE 19808BR Jersey International Holdings L.P.100.00N
Long position8,745,859
Short position170,057
BlackRock Canada Holdings ULC2500, 450 – 1St Street SW Calgary, Alberta T2P 5HI BlackRock International Holdings, Inc.100.00N
Long position153,309
Short position2,650
BlackRock Asset Management Canada Limited161 Bay Street, Suite 2500, Toronto, Ontario M5J 2S1, Canada (Ontario, Canada)BlackRock Canada Holdings ULC100.00Y
Long position153,309
Short position2,650
BlackRock Australia Holdco Pty. Ltd.Level 12, 33 Alfred Street, Sydney, NSW 2000BR Jersey International Holdings L.P.100.00N
Long position96,508
Short position1,350
BlackRock Investment Management (Australia) LimitedLevel 12, 33 Alfred Street, Sydney, NSW 2000BlackRock Australia Holdco Pty. Ltd.100.00Y
Long position96,508
Short position1,350
BlackRock (Singapore) Holdco Pte. Ltd.20 Anson Road #18-01 079912 Singapore (Singapore)BR Jersey International Holdings L.P.100.00N
Long position1,514,045
BlackRock HK Holdco Limited30th Floor, One Taikoo Place 979 King's Road Hong KongBlackRock (Singapore) Holdco Pte. Ltd.100.00N
Long position1,435,708
BlackRock Asset Management North Asia Limited15/F, 16/F, 17/F Champion Tower & 17/F ICBC Tower, 3 Garden Road, Central, Hong KongBlackRock HK Holdco Limited100.00Y
Long position1,046,661
BlackRock Cayman 1 LPWalkers Corporate Limited 190 Elgin Avenue George Town, Grand Cayman KY1-9008BlackRock Holdco 3, LLC100.00N
Long position8,745,859
Short position170,057
BlackRock Cayman West Bay Finco LimitedWalkers Corporate Limited 190 Elgin Avenue George Town, Grand Cayman KY1-9008BlackRock Cayman 1 LP100.00N
Long position8,745,859
Short position170,057
BlackRock Cayman West Bay IV LimitiedWalkers Corporate Limited 190 Elgin Avenue George Town, Grand Cayman KY1-9008BlackRock Cayman West Bay Finco Limited100.00N
Long position8,745,859
Short position170,057
BlackRock Group Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock Cayman West Bay IV Limitied90.00N
Long position8,745,859
Short position170,057
BlackRock (Netherlands) B.V.Rembrandt Tower, 17th floor, Amstelplein, Amsterdam Netherlands (Amsterdam, Netherlands)BlackRock Group Limited100.00Y
Long position342,319
BlackRock Advisors (UK) Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock Group Limited100.00Y
Long position3,700
BlackRock International LimitedDundas House, 20 Brandon Street, EndinburghBlackRock Group Limited100.00N
Long position45,951
BlackRock Group Limited-Luxembourg Branch35 A, avenue J.F. Kennedy L-1855 LuxembourgBlackRock Group Limited100.00N
Long position6,808,888
Short position163,123
BlackRock Luxembourg Holdco S.à r.l.35 A, avenue J.F. Kennedy L-1855 LuxembourgBlackRock Group Limited-Luxembourg Branch100.00N
Long position6,808,888
Short position163,123
BlackRock Asset Management Ireland LimitedGlencar House, 20 Merrion Rd, Dublin 4, D04 T9F3, IrelandBlackRock Luxembourg Holdco S.à r.l.100.00Y
Long position5,880,615
BlackRock (Luxembourg) S.A.35 A, avenue J.F. Kennedy L-1855 LuxembourgBlackRock Luxembourg Holdco S.à r.l.100.00Y
Long position923,123
Short position163,123
BlackRock Investment Management (UK) Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock Group Limited100.00N
Long position774,293
BlackRock Investment Management (UK) Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock Group Limited100.00Y
Long position770,708
Short position6,934
BlackRock Fund Managers Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock Investment Management (UK) Limited100.00Y
Long position774,293
BlackRock Life Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock International Limited100.00Y
Long position45,951
BlackRock (Singapore) Limited20 Anson Road #18-01 079912 Singapore (Singapore)BlackRock (Singapore) Holdco Pte. Ltd.100.00Y
Long position78,337
BlackRock UK Holdco Limited12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)BlackRock Luxembourg Holdco S.à r.l.100.00N
Long position5,150
BlackRock Asset Management Schweiz AGBahnhofstrasse 39 8001 Zurich, Switzerland (Switzerland)BlackRock UK Holdco Limited100.00Y
Long position5,150
BlackRock Investment Management (Taiwan) LimitedNo.100, Songred Rd., Xinyi Dist., Taipei City 11073, Taiwain.BlackRock Lux Finco S.à r.l.100.00Y
Long position2,050
EG Holdings Blocker, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock Investment Management, LLC100.00N
Long position389,068
Amethyst Intermediate, LLC251 Little Falls Dr, Wilmington, DE 19808BlackRock Investment Management, LLC100.00N
Long position389,068
Aperio Holdings, LLC251 Little Falls Dr, Wilmington, DE 19808Amethyst Intermediate, LLC77.00N
Long position389,068
Aperio Holdings, LLC251 Little Falls Dr, Wilmington, DE 19808EG Holdings Blocker, LLC23.00N
Long position389,068
Aperio Group, LLC2710 Gateway Oaks Drive, Suite 150N, Sacramento, CA 95833-3505Aperio Holdings, LLC100.00Y
Long position389,068
Web Holdings, LLC251 Little Falls Dr, Wilmington, DE 19808Trident Merger, LLC100.00N
Long position297
SpiderRock Advisors, LLC251 Little Falls Dr, Wilmington, DE 19808Web Holdings, LLC100.00Y
Long position297

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
  
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:
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: 06/11/2026
(dd/mm/yyyy)