(Hong Kong, September 29, 2020) – China Renaissance Holdings Limited ("China Renaissance, stock code: 1911.HK) today announced that it served as the underwriter for ZTO Express (Cayman) Inc. ("ZTO Express" or the "Company", stock code: 2057.HK), a leading express delivery company in China, in its secondary listing on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"). ZTO Express priced its IPO on September 22, 2020 at HK$218 per share. The offering raised US$1.27 billion – excluding the over-allotment option, which is exercisable until October 22, 2020.  

Founded in 2002, ZTO Express is China's leading express delivery service provider with a 19.1% market share as of 31 December, 2019 and has developed one of the most extensive and reliable delivery networks in China that covers over 99% of all cities. ZTO Express is also the youngest of China's scaled express delivery companies and the most profitable among the "Tongda Operators". These are the express delivery service providers utilizing the "network partner model" in China, namely ZTO Express, YUNDA Holding, YTO Express, BEST Inc. and STO Express. ZTO Express completed its IPO on the New York Stock Exchange ("NYSE") in 2016, becoming the first Chinese express company to list in the U.S.    

The Company noted that it plans to use the net proceeds from the secondary listing for infrastructure and capacity development, empowering network partners and strengthening the network stability, investments in logistics ecosystem and general corporate purposes.    

Lixing Wang, Head of Investment Banking Division of China Renaissance, stated: "ZTO Express' secondary listing in Hong Kong represents a landmark transaction for a U.S.-listed Chinese company returning to its home market and is a testament to the value that New Economy companies bring to the transformation of the industrial sector. China Renaissance is proud of its long-term relationship with ZTO Express, which began with the support of its U.S. IPO and has continued to expand ever since. Our role in the Company's successful secondary listing further solidifies China Renaissance's position as the trusted partner for New Economy champions in China."    

As a one-stop global financial services provider with a strong investment track record in China's New Economy sector, China Renaissance is well-positioned to offer unique industry insights, global investor access and a diversified product mix to help its clients at every stage of their financial life cycle. The firm has supported a number of leading logistic companies in various financing and M&A transactions, including JD Logistics, SF Express, Yimidida, Zongteng Group, Ririshun Logistics, Kuayue-Express, YunQuNa, ANE Logistics, FineEx, Juma Logistics, Kuaigou Hailing, OneInfiTech and Kali.