ZTO Express Announces $1.5 Billion Convertible Notes and Buyback Plan, Shares Rise 9.8%

Friday, Feb 6, 2026 9:42 pm ET1min read
ZTO--

ZTO Express completed a $1.5 billion convertible notes offering, projecting 2025 revenues of RMB48.5-50 billion and lower gross profit. The company plans to use the bond proceeds for refinancing, capped call transactions, and share repurchases. Investors should be aware of the potential risks of sustained margin pressure and higher leverage intersecting with parcel growth. The shares are potentially undervalued by 44%.

ZTO Express Announces $1.5 Billion Convertible Notes and Buyback Plan, Shares Rise 9.8%

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