ZTO Express

What ZTO Express does

ZTO Express (Cayman) Inc., founded in 2002 and headquartered in Shanghai, is one of China's largest express delivery companies and a member of the "Big Four" Chinese parcel delivery operators. The company operates a hub-and-spoke logistics network combining owned and operated sorting hubs (79 facilities) and line-haul transportation (4,410+ vehicles across 1,920+ routes) with a franchise-like network of 9,400 network partners running over 28,900 pickup/delivery outlets. This network covers more than 96% of China's cities and counties and 81.5% of towns, delivering 38.52 billion parcels in 2025 (13.3% YoY growth) and capturing 20.3% of China's express parcel market share. The company serves as a primary delivery provider for major e-commerce platforms including Alibaba and JD.com, enterprise customers using integrated API and order management platforms, cross-border e-commerce sellers through partnerships with YODEL, La Poste/Swiss Post, Australia Post, and CDEK, and individual consumers via digital waybill, privacy protection, and cloud printing tools.

The company monetizes primarily through usage-based parcel delivery fees, with revenue streams including core domestic express delivery, value-added logistics services for enterprises, international cross-border delivery, and ancillary sales of accessories (thermal paper, packaging materials, uniforms) to network partners. Q1 2026 revenue reached RMB 13.3 billion (approximately $1.95 billion), up 22% YoY, with full-year 2025 revenue guided to RMB 48.5-50.0 billion. Technology investments include AI-driven dispatching systems, automated sorting machines at hubs, GPS fleet tracking, proprietary digital waybill and privacy waybill systems, an Open Platform API for enterprise integration, and deployment of approximately 1,000 unmanned delivery vehicles across 180+ cities through partnerships with Neolix, White Rhino, and Inceptio Technology. The company is listed on NYSE (ZTO) since October 2016 and completed a secondary listing on HKEX (2057) in 2025.

Name

ZTO Express

Legal name

ZTO Express (Cayman) Inc.

Website

https://zto.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ZTO Express is a leading Chinese express delivery company operating a hub-and-spoke logistics network of 79 sorting hubs and 28,900 pickup/delivery outlets covering 96%+ of China's cities. The company delivers parcels for e-commerce platforms like Alibaba and JD.com, enterprise customers, and cross-border sellers, processing 38.52 billion parcels in 2025 with 20.3% market share.

Ownership category

akta.pro rank

Product category

Express Logistics Services

NAICS

Couriers and Express Delivery Services (492110), Couriers and Messengers (492), Couriers and Express Delivery Services (49211)

SIC

Air Courier Services (4513)

akta.pro primary industry

E-commerce Fulfillment & Omnichannel Logistics (Pick/Pack/Returns) (TLAIAAAD)

akta.pro secondary industries

Industry-Specific Contract Logistics (Automotive, Pharma, Retail, Aerospace, etc.) (TLAIAAAL), PUDO/Parcel Locker Networks for E-commerce (OOH Delivery) (TLAAAFAG)

Keywords

• Express delivery services
• E-commerce logistics
• Cross-border shipping
• Parcel sorting network
• Last-mile delivery

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Express Delivery Services: Core express delivery services providing fast, safe and cost-effective parcel delivery through a nationwide network of pickup/delivery outlets, sorting hubs, and line-haul transportation. Revenue is driven by parcel volumes and average selling prices. Parcel volumes reached 38.52 billion in 2025, up 13.3% YoY.
2. Value-Added Logistics Services: Includes parcel sorting, line-haul transportation, and other logistics services for enterprise customers, supporting B2C and B2B delivery needs domestically and internationally.
3. Accessories and Supplies Sales: Sale of accessories to network partners including thermal paper for digital waybill printing, portable bar code readers, ZTO-branded packaging materials, and uniforms.
4. International Express Delivery Services: Cross-border delivery services including FBA air transport, UK express delivery, Rui You Bao (surface/registered mail), Rui You Pai, International e-Tong Bao, New Zealand/Australia express, and Russia express delivery through partnerships with international postal services and carriers.

Pricing tiers

Distribution channels5 records

Marketing channels5 records

Core offering

ZTO Express provides domestic and international express delivery of parcels through a hub-and-spoke network combining owned sorting hubs and line-haul fleet with a franchise-like network of 28,900+ pickup/delivery outlets operated by 9,400 network partners. The company delivers e-commerce parcels primarily for Chinese platforms and merchants, supported by digital waybill, cloud printing, enterprise order management, and Open Platform API services.

Product overview

ZTO Express is a leading Chinese express delivery company offering an integrated suite of logistics services. The core offering consists of domestic express delivery services with extensive network coverage across China (96%+ of cities and counties), regional services to Hong Kong and Taiwan, and comprehensive international delivery to over 45 countries through various product lines including FBA air transport, UK express delivery (via YODEL partnership), European services (via La Poste/Swiss Post partnerships), and dedicated routes to Russia, Australia, and New Zealand. The digital product portfolio includes digital waybills with QR codes, privacy waybill technology, cloud printing, enterprise order management, unified settlement services, an Open Platform (ZOP) API for enterprise technology integration, and an Express Delivery Butler (ZPA) platform for multi-store management. The company operates a hub-and-spoke network model with network partners providing pickup and last-mile delivery while ZTO controls critical line-haul transportation and sorting operations.

Differentiator

Problem solved

Functional benefit

Brands

• Rui You Bao: Cross-border e-commerce logistics service jointly provided by ZTO Express International, La Poste and Swiss Post for China's foreign trade and cross-border ecommerce sellers
• Rui You Pai
• International e-Tong Bao
• FBA Air Transport
• Express Delivery Butler
• Open Platform
• Cloud Printing
• Privacy Waybill

Products and services

• Express Delivery Services (Domestic China) Core fast, safe, and cost-effective parcel delivery service across China covering 96%+ of cities and counties through 28,900+ pickup/delivery outlets and 79 sorting hubs. Used by e-commerce merchants, enterprises, and individual senders for domestic shipments.
• Hong Kong Express Delivery Service Express delivery between Mainland China and Hong Kong, providing next-day delivery in the Pearl River Delta region and within 72 hours for other regions. Designed for cross-border merchants and individual shippers between Mainland China and Hong Kong SAR.
• Taiwan Express Delivery Services Express delivery services between Mainland China and Taiwan with 72-hour transit time under normal conditions. Designed for cross-border merchants and shippers between Mainland China and Taiwan.
• FBA Air Transport (Duty/Tax Included) International air freight service shipping parcels from Mainland China to Europe (5-8 days) and North/South America (8-10 days) with door-to-door delivery including duty/tax and customs clearance. Covers residential addresses and FBA warehouses. Used by Chinese cross-border e-commerce sellers shipping to Amazon FBA and end consumers in Western markets.
• United Kingdom Express Delivery Service Joint service with YODEL providing high-quality and cost-efficient express delivery from China to UK with efficient customs clearance. Priced at approximately 40% of major international couriers. Targeted at Chinese cross-border e-commerce sellers shipping to UK consumers.
• Rui You Bao Service Logistics service jointly provided with La Poste and Swiss Post covering 45 countries including Europe, South America, Middle East and Africa with fast customs clearance. Designed for Chinese foreign trade and cross-border e-commerce sellers targeting European and emerging markets.
• Rui You Pai Express delivery service providing direct access to France and Switzerland and 27 other countries. Delivers within 4-5 days for France and Switzerland, 5-17 days for other countries. Targeted at cross-border e-commerce sellers serving European consumers.
• International e-Tong Bao Economical international express delivery service for light and small items. Covers United States, Britain, Australia, Canada, France and Russia with 7-10 business day delivery and up to 2kg weight limit. Targeted at cost-sensitive cross-border e-commerce sellers of small goods.
• New Zealand and Australia Express Delivery Service Joint service with Australia Post providing direct express delivery from China to Australia and New Zealand with 5-7 business day delivery and efficient customs clearance. Targeted at Chinese cross-border e-commerce sellers targeting Oceania markets.
• Russia Express Delivery Service Joint service with CDEK providing cost-efficient delivery to Russia within 20 days at 70% of China Post Air Mail pricing. Covers goods with built-in batteries. Targeted at Chinese cross-border e-commerce sellers serving Russian consumers.
• Digital Waybill Service Thermal paper express labels with delivery information printed 4-6x faster than ordinary paper waybills, with automatic logistics tracking and simplified sorting through two-segment and three-segment codes. Used by senders and network partner outlets to reduce waybill material costs.
• Privacy Waybill Service Service that protects recipient and sender personal information from being printed on waybills; delivery personnel use a safe virtual number (9501395311 + random virtual number) to contact customers. Used by senders concerned about personal data exposure.
• Cloud Printing Service Service enabling customers to place orders and print waybills by scanning QR codes, with 3-second print start, batch order support, and up to 5,000 saved addresses. Used by individual senders and small merchants needing quick self-serve waybill creation.
• Enterprise Order Platform Platform for enterprise customers to place orders with unified account management, online order pushing to outlets/personnel, and consolidated settlement between outlets and customers. Used by merchants and enterprises with multi-store or multi-warehouse shipping operations.
• Open Platform (ZOP) API API platform integrating ZTO's logistics supply chain with value-added services including basic information (city/province, address, outlet, quotations), order services (pickup scheduling, real-time tracking), digital waybill, track service, and privacy protection interfaces. Used by enterprise customers and third-party developers integrating ZTO delivery into their OMS, ERP, or e-commerce platforms.
• Express Delivery Butler (ZPA) Registration-free, one-click login platform enabling multi-platform store account binding, customized waybill templates, batch printing, intelligent shipment, and real-time parcel monitoring throughout delivery. Used by small merchants and individual senders managing parcels across multiple e-commerce platforms.

Quantifiable outcome

• 50% increase in delivery efficiency and nearly one-third reduction in operating costs from combined transportation model using unmanned vehicles
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• MINIEYE (2431.HK)coreStrategic or Co-development Partner · 3 June 2026MINIEYE, a Hong Kong-listed autonomous driving company (2431.HK), announced plans to acquire a 50% stake in Xi'an Tongtu Technology Co., Ltd., a wholly-owned subsidiary of ZTO Express, for 25 million yuan, with ZTO becoming a strategic shareholder in MINIEYE through share exchange upon closing. The partnership aims to accelerate Level 4 autonomous driving commercialization in logistics by combining MINIEYE's 'True Mapless' technology and Robovan-as-a-Service model with ZTO's nationwide logistics network and stable capacity demand. MINIEYE positions itself as a latecomer seeking to overtake early autonomous driving pioneers by offering faster deployment times, lower costs, and a scalable commercial model without reliance on expensive HD maps.
• NeolixcoreTechnology or IntegrationNeolix, a global leader in L4 autonomous logistics (RoboVan) solutions, has deployed over 16,000 autonomous vehicles across 15 countries and secured major logistics customers including ZTO Express. Neolix has captured nearly 70% of awarded tenders in China's autonomous delivery market. The company has raised over USD 880 million including a USD 600 million Series D round. ZTO utilizes Neolix robovan platforms for autonomous last-mile delivery, with the partnership contributing to ZTO's approximately 1,000 unmanned vehicles across 180+ cities.
• Inceptio TechnologycoreTechnology or IntegrationInceptio Technology, a Beijing-based autonomous trucking company, delivered 400 autonomous heavy trucks to ZTO Express in what was described as one of the world's largest autonomous trucking deployments to date. The partnership addresses driver shortages, improves safety, and enhances logistics efficiency across hub-to-hub operations, supporting ZTO's long-haul transportation capabilities.
• YODELcoreChannel Partner/ Reseller/ DistributorZTO Express International and YODEL jointly provide UK express delivery services catering to China's foreign trade and cross-border e-commerce sellers. ZTO handles China-side sorting and air shipment while YODEL provides local express delivery in the United Kingdom, enabling efficient customs clearance and cost-competitive pricing approximately 40% of major international courier rates.
• La Poste and Swiss PostcoreChannel Partner/ Reseller/ DistributorZTO Express International partners with La Poste and Swiss Post for Rui You Bao (surface/registered mail) and Rui You Pai international express delivery services targeting China's cross-border e-commerce sellers. Services cover 45+ countries in Europe, South America, the Middle East, and Africa, with parcels sorted in China and shipped via Swiss/La Poste infrastructure for local delivery.
• Australia PostcoreChannel Partner/ Reseller/ DistributorZTO Express and Australia Post jointly developed New Zealand and Australia Express Delivery Service, providing direct and tailor-made express delivery services from China to Australia and New Zealand with quick customs clearance and efficient local delivery. Australia Post handles in-country shipping and delivery within Australia.
• CDEKcoreChannel Partner/ Reseller/ DistributorZTO Express International partnered with CDEK (Russia) to develop Russia express delivery service (Channel Code: RUEXCD) for Chinese cross-border e-commerce B2C companies selling goods to Russia. ZTO handles China-side operations while CDEK provides in-country delivery and customs clearance support.
• JD Logistics (via Neolix)minorChannel Partner/ Reseller/ DistributorGAC Commercial Vehicle and Changan LCV launched their own robovan platforms through collaborations with Neolix and JD Logistics respectively. ZTO Express is mentioned alongside J&T Express and JD Logistics as major logistics operators aggressively entering the autonomous delivery sector through partnerships with autonomous driving startups.

Scale indicators16 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• United Parcel Service (UPS): Global incumbent in express delivery and logistics. While geographically focused on US/international lanes rather than competing in domestic China, UPS serves a comparable global e-commerce customer base and provides benchmark express delivery economics.
• FedEx: Global express delivery incumbent comparable in service model and target customer base (e-commerce merchants, enterprises). Not a direct domestic China competitor but a relevant global peer for cross-border parcel delivery services.
• Deutsche Post DHL Group: Global logistics incumbent operating cross-border express, freight, and supply chain services. Relevant peer for ZTO's international parcel delivery expansion given DHL's benchmark last-mile and customs capabilities.

Direct peers

• YTO Express: Direct competitor among China's 'Big Four' express delivery companies. Competes head-to-head with ZTO in e-commerce parcel delivery through a network of pickup outlets and sorting hubs across China.
• Cainiao Network (Alibaba): Alibaba's logistics affiliate and major ZTO customer. Operates Cainiao Smart Logistics Network serving Alibaba merchants and represents both a critical volume source and a strategic competitive threat to ZTO.
• Yunda Holding: Fourth member of China's 'Big Four' express delivery companies. Competes directly with ZTO on e-commerce parcel volumes in China with overlapping customer base and service offerings.
• STO Express (Sto Express): Another member of China's 'Big Four' express delivery companies. Directly comparable e-commerce parcel delivery network with similar franchise-style outlet model.
• J&T Express: Emerging Asian logistics player that has aggressively entered China's express delivery market alongside ZTO, SF, JD Logistics, and others through partnerships with autonomous delivery vehicle providers.
• SF Holding (SF Express): China's other 'Big Four' express delivery leader and ZTO's most direct domestic competitor. Operates a similar hub-and-spoke network, serves Alibaba/JD.com merchants, and is also a leading customer of autonomous delivery vehicles.
• JD Logistics: Logistics arm of JD.com — both a customer and competitor of ZTO. Operates a vertically integrated parcel network with thousands of ADAS vans and Neolix robovan deployments for last-mile delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ztoexpress.myanmar

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ZTO Express