{"id":384539,"date":"2020-11-18T17:03:25","date_gmt":"2020-11-18T22:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384539"},"modified":"2020-11-18T17:03:25","modified_gmt":"2020-11-18T22:03:25","slug":"expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\/","title":{"rendered":"Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <b>Achieved <span id=\"spanHghlt0e73\"><span class=\"xn-money\">RMB1<\/span><\/span>.2 Billion Adjusted Net Income Amidst Fierce Competition<br \/><\/b><br \/>\n        <b>ZTO Reports Third Quarter 2020 Unaudited Financial Results<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-location\">SHANGHAI<\/span>, <span class=\"xn-chron\">Nov. 18, 2020<\/span> \/PRNewswire\/ &#8212; <b>ZTO Express (Cayman) Inc. (NYSE: ZTO and HKEX: 2057)<\/b>, a leading and fast-growing express delivery company in <span class=\"xn-location\">China<\/span> (&#8220;ZTO&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the third quarter ended <span class=\"xn-chron\">September 30, 2020<\/span><sup>(1)<\/sup>. The Company maintained high quality of service and customer satisfaction, and expanded parcel volume market share by 1.9 percentage points to 20.8%. <\/p>\n<p>\n        <b>Third Quarter 2020 Financial Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Revenues were <span class=\"xn-money\">RMB6,638.8 million<\/span> (<span class=\"xn-money\">US$977.8 million<\/span>), an increase of 26.1% from <span class=\"xn-money\">RMB5,265.8 million<\/span> in the same period of 2019. <\/li>\n<li>Gross profit was <span class=\"xn-money\">RMB1,391.0 million<\/span> (<span class=\"xn-money\">US$204.9 million<\/span>), a decrease of 12.9% from <span class=\"xn-money\">RMB1,596.9 million<\/span> in the same period of 2019. <\/li>\n<li>Net income was <span class=\"xn-money\">RMB1,210.3 million<\/span> (<span class=\"xn-money\">US$178.3 million<\/span>), a decrease of 7.4% from <span class=\"xn-money\">RMB1,307.7 million<\/span> in the same period of 2019. <\/li>\n<li>Adjusted EBITDA<sup>(2)<\/sup> was <span class=\"xn-money\">RMB1,675.4 million<\/span> (<span class=\"xn-money\">US$246.8 million<\/span>), a decrease of 11.2% from <span class=\"xn-money\">RMB1,887.5 million<\/span> in the same period of 2019. <\/li>\n<li>Adjusted net income<sup>(3)<\/sup> was <span class=\"xn-money\">RMB1,210.3 million<\/span> (<span class=\"xn-money\">US$178.3 million<\/span>), a decrease of 8.2% from <span class=\"xn-money\">RMB1,318.5 million<\/span> in the same period of 2019. <\/li>\n<li>Basic and diluted earnings per American depositary share (&#8220;ADS&#8221;<sup>(4)<\/sup>) were <span class=\"xn-money\">RMB1.53<\/span><span class=\"xn-money\">(US$0.23)<\/span>, a decrease of 8.4% from <span class=\"xn-money\">RMB1.67<\/span> in the same period of 2019. <\/li>\n<li>Adjusted basic and diluted earnings per American depositary share<sup>(5)<\/sup> attributable to ordinary shareholders were <span class=\"xn-money\">RMB1.53<\/span><span class=\"xn-money\">(US$0.23)<\/span>, a decrease of 9.5% from <span class=\"xn-money\">RMB1.69<\/span> in the same period of 2019. <\/li>\n<li>Net cash provided by operating activities was <span class=\"xn-money\">RMB1,480.4 million<\/span> (<span class=\"xn-money\">US$218.0 million<\/span>), compared with <span class=\"xn-money\">RMB1,417.7 million<\/span> in the same period of 2019.<\/li>\n<\/ul>\n<p>\n        <b>Operational Highlights for Third Quarter 2020<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Parcel volume was 4,623 million, an increase of 51.2% from 3,058 million in the third quarter of 2019. <\/li>\n<li>Number of pickup\/delivery outlets was approximately 30,000 as of <span class=\"xn-chron\">September 30, 2020<\/span>. <\/li>\n<li>Number of direct network partners was over 5,150 as of <span class=\"xn-chron\">September 30, 2020<\/span>. <\/li>\n<li>Number of line-haul vehicles was over 10,100 as of <span class=\"xn-chron\">September 30, 2020<\/span>, which included approximately 9,250 self-owned vehicles, increased from 9,900 as of <span class=\"xn-chron\">June 30, 2020<\/span>, and approximately 850 vehicles owned and operated by Tonglu Tongze Logistics Ltd., a transportation operator that works exclusively for ZTO. <\/li>\n<li>Out of the self-owned trucks, over 7,400 were high capacity 15 to 17-meter-long models as of <span class=\"xn-chron\">September 30, 2020<\/span>, compared to over 7,100 as of <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Number of line-haul routes between sorting hubs was approximately 3,400 as of <span class=\"xn-chron\">September 30, 2020<\/span>, compared to over 3,400 as of <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>Number of sorting hubs was 91 as of <span class=\"xn-chron\">September 30, 2020<\/span>, among which 82 are operated by the Company and 9 by the Company&#8217;s network partners.<\/li>\n<\/ul>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1)\u00a0 An investor relations presentation accompanies this earnings release and can be found at <a target=\"_blank\" href=\"http:\/\/zto.investorroom.com\/\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">http:\/\/zto.investorroom.com<\/a>. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2)\u00a0 Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income before depreciation, amortization, interest expenses and income tax expenses, and further adjusted to exclude the shared-based compensation expense and non-recurring items such as the gain on disposal of equity investees and subsidiary which management aims to better represent the underlying business operations.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3)\u00a0 Adjusted net income is a non-GAAP financial measure, which is defined as net income before share-based compensation expense and non-recurring items such as gain on disposal of equity investees and subsidiary in which management aims to better represent the underlying business operations.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4)\u00a0 One ADS represents one Class A ordinary share.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5) \u00a0Adjusted basic and diluted earnings per American depositary share attributable to ordinary shareholders is a non-GAAP financial measure. It is defined as adjusted net income divided by weighted average number of basic and diluted shares, respectively.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>Mr. <span class=\"xn-person\">Meisong Lai<\/span>, Founder, Chairman and Chief Executive Officer of ZTO, commented &#8220;During the third quarter, driven by a steady economic recovery, <span class=\"xn-location\">China<\/span> express delivery industry maintained its strong growth momentum from previous quarter and achieved a 37.8% parcel volume increase over last year. ZTO grew 51.2% with 4.6\u00a0billion parcels and expanded its market share by 1.9 percentage points to 20.8%. Our 3Q performance resulted from consistent focus on investing in infrastructure, improving capacity and operating efficiency on one hand, and at the same time, addressing our network partners&#8217; interest and needs fairly so that our entire network can remain stable and thrive.&#8221;\u00a0 <\/p>\n<p>Mr. Lai added, &#8220;ZTO&#8217;s recent secondary listing on <span class=\"xn-location\">Hong Kong<\/span> stock exchange gave us an opportunity to review what contributed to our success in the past and think deep and clear about what&#8217;s crucial for us to expand our competitive edge and transform ultimately into a world-class comprehensive logistic service provider. We firmly believe in the long-term growth prospects of the express delivery market as well as the tremendous opportunities in the logistic industries in <span class=\"xn-location\">China<\/span> and overseas. Express delivery has increasingly become an essential part of our daily lives for its ability and potential to efficiently connect a vast array of supply and demand with wide coverage and deep penetration. We are preparing for that pinnacle moment to arrive when the express delivery industry can start to receive deserved payback.&#8221;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/p>\n<p>Ms. <span class=\"xn-person\">Huiping Yan<\/span>, Chief Financial Officer of ZTO, commented, &#8220;Impacted by competition that remained fierce during the period, ZTO&#8217;s adjusted net income was <span id=\"spanHghlt753e\"><span class=\"xn-money\">RMB1.2 billion<\/span><\/span> and the 8.2% decrease was relatively moderate given an 18.4% price decline which was at the low end of the\u00a0<span id=\"spanHghlt898e\">market <\/span>range of<span id=\"spanHghltbd8c\">\u00a0price decline<\/span>. We were more effective in managing competing priorities of accelerated volume growth and market share gain, sustained network partners&#8217; confidence and trust in our brand, and solid corporate earnings. Meanwhile, scale leverage and cost productivity initiatives continued to dampen the impact of price decline where our combined sorting and transportation costs per unit dropped 9.0% or <span class=\"xn-money\">8 cents<\/span>, and corporate SG&amp;A cost as a percentage of total revenues remained low at 5.6%.&#8221;<\/p>\n<p>Ms. Yan added, &#8220;Cash from operating activities increased 4.4% to <span id=\"spanHghlt6e47\">RMB1.48<\/span> billion for the quarter.\u00a0 <span id=\"spanHghlt123f\">The cumulative capital<\/span> spending <span id=\"spanHghlt7cc3\">for the year<\/span> was <span id=\"spanHghlt18a3\"><span class=\"xn-money\">RMB6<\/span><\/span>.2 billion <span id=\"spanHghlt0c48\">as we have accelerated infrastructure development in response to the steady increase in demand<\/span>. Together with the proceeds received this quarter for our secondary listing in <span class=\"xn-location\">Hong Kong<\/span>, ZTO has <span class=\"xn-money\">RMB 22.7 billion<\/span><span id=\"spanHghlt6cd4\">available cash including those on deposits.\u00a0 With a strong balance sheet, we intend to further build-out scale and capacity, to support our network partners to expand and grow with us, and to form advantages in <\/span>comprehensive logistic service capabilities.\u00a0\u00a0<\/p>\n<p>\n        <b>Third Quarter 2020 Financial Results<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"9\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months\u00a0Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"9\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine\u00a0Months\u00a0Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"20\" class=\"prnsbt1 prnrbrb0 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands,\u00a0except\u00a0percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Express delivery services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,675,993<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">88.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,780,410<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">851,362<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">87.1<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,499,267<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">88.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,727,484<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,169,124<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Freight forwarding services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">274,356<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">481,188<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">70,871<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.2<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">913,758<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,243,759<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">183,186<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sale of accessories<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">276,452<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">298,871<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.5<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">777,859<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">797,084<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">117,398<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,959<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78,367<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,543<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.2<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72,546<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">188,819<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,810<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,265,760<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,638,836<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>977,795<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,263,430<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>16,957,146<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,497,518<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <span id=\"spanHghlt5342\">Total<\/span> Revenues <\/b>were <span class=\"xn-money\">RMB6,638.8 million<\/span> (<span class=\"xn-money\">US$977.8 million<\/span>), an increase of 26.1% from <span class=\"xn-money\">RMB5,265.8 million<\/span> in the same period of 2019. Revenue from the core express delivery business increased by 23.4% compared to the same period of 2019, as a combined result of an increase of 51.2% in parcel volume and a decrease of 18.4% in parcel unit price mainly driven by competition and <span id=\"spanHghlt908c\">the decrease in average<\/span> parcel <span id=\"spanHghltee45\">weight.<\/span> Revenue from freight forwarding services increased <span id=\"spanHghlt1367\">by<\/span> 75.4% compared to the same period of 2019, driven by increased cross border e-commerce demand and improved pricing as a result of the COVID-19 outbreak globally. Revenue from sales of accessories, largely consisting of the sales of thermal paper used for digital waybills&#8217; printing, increased by 8.1% due to increased usage of lower-priced single-sheet digital waybill since second half of last year. \u00a0Other revenues were mainly derived from financing services and advertising services.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three\u00a0Months\u00a0Ended September 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine\u00a0Months\u00a0Ended September 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr6\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%\u00a0of<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%\u00a0of<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%\u00a0of<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prnsbtbl prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%\u00a0of<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"19\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands,\u00a0except\u00a0percentages)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Line-haul transportation cost<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,783,180<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33.9<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,446,793<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">360,373<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36.9<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,073,052<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33.2<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,740,772<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">845,524<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33.9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <span id=\"spanHghlte986\" class=\"prnews_span\">Sorting hub operating cost<\/span><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">978,417<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18.6<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,353,754<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">199,386<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20.4<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,823,387<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18.5<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,573,787<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">526,362<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Freight forwarding cost<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">265,426<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.0<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">447,047<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">65,843<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6.7<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">893,823<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.9<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,151,319<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">169,571<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6.8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of accessories sold<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">138,112<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.6<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">95,007<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,993<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.4<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">414,169<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.7<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">281,965<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,529<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">503,686<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9.6<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">905,283<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">133,335<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13.6<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,433,901<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9.4<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,230,528<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">328,521<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13.0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total cost of revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,668,821<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>69.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,247,884<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>772,930<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>79.0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10,638,332<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>69.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12,978,371<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,911,507<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>76.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<p>\n        <b>Total cost of revenues<\/b>\u00a0was <span class=\"xn-money\">RMB5,247.9 million<\/span> (<span class=\"xn-money\">US$772.9 million<\/span>), an increase of 43.0% from <span class=\"xn-money\">RMB3,668.8 million<\/span> in the same period last year.<\/p>\n<p>\n        <b>Line haul transportation cost <\/b>was <span class=\"xn-money\">RMB2,446.8 million<\/span> (<span class=\"xn-money\">US$360.4 million<\/span>), an increase of 37.2% from <span class=\"xn-money\">RMB1,783.2 million<\/span> in the same period last\u00a0year. The line-haul transportation cost per parcel declined 9.2% to <span class=\"xn-money\">RMB0.53<\/span>. The decrease resulted mainly from\u00a0<span id=\"spanHghlteead\">increased <\/span>usage of self-owned vehicles with <span id=\"spanHghlted73\">a greater<\/span> number of higher-capacity trailer trucks. <span id=\"spanHghlt1d7e\">Approximately 86.0% of the line-haul transportation costs were associated with self-owned fleet compared to that of 66.2% in the same period last year. <br \/><\/span><\/p>\n<p>\n        <b>Sorting hub operating cost <\/b>was <span class=\"xn-money\">RMB1,353.8 million<\/span> (<span class=\"xn-money\">US$199.4 million<\/span>), an increase of 38.4% from <span class=\"xn-money\">RMB978.4 million<\/span> in the same period last year. The increase was primarily due to (i) an <span class=\"xn-money\">RMB274.0 million<\/span> (<span class=\"xn-money\">US$40.4 million<\/span>) increase in labor associated costs, and (ii) an <span class=\"xn-money\">RMB80.3 million<\/span> (<span class=\"xn-money\">US$11.8 million<\/span>) increase in depreciation and amortization costs\u00a0<span id=\"spanHghlt56ac\">due to<\/span>\u00a0the increased number of installed automated sorting equipment. As of <span class=\"xn-chron\">September 30, 2020<\/span>, 300 sets of automated sorting equipment have been placed into service, compared to 208 sets as of <span class=\"xn-chron\">September 30, 2019<\/span>. The sorting hub operating cost per parcel decreased 8.5% to <span class=\"xn-money\">RMB0.29<\/span> as a result of increased level of automation and improved economies of scale.<\/p>\n<p>\n        <b>Cost of accessories<\/b>\u00a0<span id=\"spanHghlt3077\">sold<\/span> was <span class=\"xn-money\">RMB95.0 million<\/span> (<span class=\"xn-money\">US$14.0 million<\/span>), a decrease of 31.2% from <span class=\"xn-money\">RMB138.1 million<\/span> in the same period last year. The decrease was mainly driven by the increased use of lower-cost single-sheet digital waybills since the second half of 2019.<\/p>\n<p>\n        <b>Other costs<\/b>\u00a0were <span class=\"xn-money\">RMB905.3 million<\/span> (<span class=\"xn-money\">US$133.3 million<\/span>), an increase of <span class=\"xn-money\">RMB401.6 million<\/span> (<span class=\"xn-money\">US$59.1 million<\/span>) compared to the same period last year. The increase was mainly consisted of (i) an increase of <span class=\"xn-money\">RMB304.8 million<\/span> (<span class=\"xn-money\">US$44.9 million<\/span>) in dispatching costs serving enterprise <span id=\"spanHghlt69b0\">customers associated<\/span><span id=\"spanHghltb3eb\">with a similar level of<\/span> volume increase of 99.7%, and (ii) an increase of <span class=\"xn-money\">RMB80.2million<\/span> (<span class=\"xn-money\">US$11.8 million<\/span>) in technology related expenses.<\/p>\n<p>\n        <b>Gross Profit <\/b>was <span class=\"xn-money\">RMB1,391.0 million<\/span> (<span class=\"xn-money\">US$204.9<\/span><span id=\"spanHghltf1c7\">\u00a0million<\/span>), a decrease of 12.9% from <span class=\"xn-money\">RMB1,596.9 million<\/span> in the same period last year. Gross margin rate<span id=\"spanHghlt34ae\">\u00a0was<\/span> 21.0%\u00a0<span id=\"spanHghltd49e\">compared<\/span><span id=\"spanHghltdbee\">\u00a0to<\/span>\u00a030.3% in the same period last year as <span id=\"spanHghltb223\">a <\/span>net\u00a0<span id=\"spanHghlt0ebf\">result <\/span>of competition-led <span id=\"spanHghlt0c4e\">core express delivery<\/span> ASP decline of 18.4% and <span id=\"spanHghltbb8f\">related<\/span> unit cost\u00a0<span id=\"spanHghlt6589\">decline<\/span> of 6.7%.<\/p>\n<p>\n        <b>Total Operating Expenses <\/b>were <span class=\"xn-money\">RMB221.8 million<\/span> (<span class=\"xn-money\">US$32.7 million<\/span>), compared to <span class=\"xn-money\">RMB196.4 million<\/span> in the same period last year.<\/p>\n<p>\n        <b>Selling, general and administrative expenses <\/b>were <span class=\"xn-money\">RMB373.7 million<\/span> (<span class=\"xn-money\">US$55.0 million<\/span>), increased <span id=\"spanHghltbac5\">by<\/span> 28.5% from <span class=\"xn-money\">RMB290.9 million<\/span> in the same\u00a0period last year. The increase was mainly due to (i) an increase of <span class=\"xn-money\">RMB70.1 million<\/span> (<span class=\"xn-money\">US$10.3 million<\/span>) in salaries and accrued performance-based bonuses, and (ii) an increase of <span class=\"xn-money\">RMB9.7 million<\/span> (<span class=\"xn-money\">US$1.4 million<\/span>) in depreciation and amortization expenses.<\/p>\n<p>\n        <b>Other operating income, net <\/b>was <span class=\"xn-money\">RMB151.8 million<\/span> (<span class=\"xn-money\">US$22.4 million<\/span>), compared to <span class=\"xn-money\">RMB94.5 million<\/span> in the same period last year. Other operating income mainly consisted of (i) <span class=\"xn-money\">RMB69.0 million<\/span> (<span class=\"xn-money\">US$10.2 million<\/span>) ADR fee <span id=\"spanHghlted9b\">adjustment<\/span>, (ii) <span class=\"xn-money\">RMB43.5 million<\/span> (<span class=\"xn-money\">US$6.4 million<\/span>) of VAT super deduction recognized, and (iii) government subsidies and tax rebates of <span class=\"xn-money\">RMB24.5 million<\/span> (<span class=\"xn-money\">US$3.6 million<\/span>) received.<\/p>\n<p>\n        <b>Income from operations <\/b>was <span class=\"xn-money\">RMB1,169.1 million<\/span> (<span class=\"xn-money\">US$172.2 million<\/span>), a <span id=\"spanHghlt3d1d\">decrease <\/span>of 16.5% from <span class=\"xn-money\">RMB1,400.5 million<\/span> for the same period last year. Operating margin rate decreased to 17.6% from 26.6% in the same period last year,\u00a0<span id=\"spanHghltfd59\">derived from the\u00a09.4<\/span> percentage points decrease in gross margin <span id=\"spanHghlt4caf\">rate<\/span>.<\/p>\n<p>\n        <b>Interest income <\/b>was <span class=\"xn-money\">RMB96.7 million<\/span> (<span class=\"xn-money\">US$14.2 million<\/span>), compared with <span class=\"xn-money\">RMB146.4 million<\/span> in the same period last year.<\/p>\n<p>\n        <b>Foreign currency exchange loss, before tax <\/b>was <span class=\"xn-money\">RMB64.4 million<\/span> (<span class=\"xn-money\">US$9.5 million<\/span>) in the third quarter of 2020.<\/p>\n<p>\n        <b>Income tax expenses <\/b>were negative <span class=\"xn-money\">RMB27.8 million<\/span> (<span class=\"xn-money\">US$4.1 million<\/span>) compared to <span class=\"xn-money\">RMB266.3 million<\/span> in the same period last year. <span id=\"spanHghltab91\">An income tax refund<\/span> of <span class=\"xn-money\">RMB200.7 million<\/span> (<span class=\"xn-money\">US$29.6 million<\/span>) <span id=\"spanHghlte3ff\">was<\/span> received <span id=\"spanHghlt27b5\">during the quarter<\/span> by Shanghai Zhongtongji Network, <span id=\"spanHghlt919e\">a <\/span>wholly-owned subsidiary, for being recognized as a <span id=\"spanHghlt5ad3\">&#8220;Key Software Enterprise&#8221;<\/span> that qualified for a preferential tax rate of 10% <span id=\"spanHghlt1421\">for<\/span><span id=\"spanHghlt4aa9\">tax year<\/span> 2019. <\/p>\n<p>\n        <b>Net income <\/b>was <span class=\"xn-money\">RMB1,210.3 million<\/span> (<span class=\"xn-money\">US$178.3 million<\/span>), <span id=\"spanHghlt3b53\">which decreased by 7.4% from <span class=\"xn-money\">RMB1,307.7 million<\/span> year over year mainly due to intensified price competition while the Company&#8217;s scale and cost leverage remained strong.<\/span><\/p>\n<p>\n        <b>Basic and diluted earnings per ADS attributable to ordinary shareholders <\/b>were <span class=\"xn-money\">RMB1.53<\/span><span class=\"xn-money\">(US$0.23)<\/span>, compared to <span class=\"xn-money\">RMB1.67<\/span> in the same period last year.<\/p>\n<p>\n        <b>Adjusted basic and diluted earnings per ADS attributable to ordinary shareholders <\/b>were <span class=\"xn-money\">RMB1.53<\/span><span class=\"xn-money\">(US$0.23)<\/span>, compared with <span class=\"xn-money\">RMB1.69<\/span> in the same\u00a0period last year.<\/p>\n<p>\n        <b>Adjusted net income <\/b>was <span class=\"xn-money\">RMB1,210.3 million<\/span> (<span class=\"xn-money\">US$178.3 million<\/span>), compared with <span class=\"xn-money\">RMB1,318.5 million<\/span> during the same period last year.<\/p>\n<p>\n        <b>EBITDA <\/b>was <span class=\"xn-money\">RMB1,675.4 million<\/span> (<span class=\"xn-money\">US$246.8 million<\/span>), compared with <span class=\"xn-money\">RMB1,876.7 million<\/span> in the same period last year.<\/p>\n<p>\n        <b>Adjusted EBITDA <\/b>was <span class=\"xn-money\">RMB1,675.4 million<\/span> (<span class=\"xn-money\">US$246.8 million<\/span>), compared to <span class=\"xn-money\">RMB1,887.5 million<\/span> in the same period last year.<\/p>\n<p>\n        <b>Net cash provided by operating activities<\/b><br \/>\n        <b>\u00a0<\/b>was <span class=\"xn-money\">RMB1,480.4 million<\/span> (<span class=\"xn-money\">US$218.0 million<\/span>), compared with <span class=\"xn-money\">RMB1,417.7 million<\/span> in the same period last year. <\/p>\n<p>\n        <b>Business Outlook<\/b>\n      <\/p>\n<p>The Company makes no changes to its previously stated annual guidance: parcel volume for 2020 is expected to be in the range of 16.2 billion to 17.0 billion, representing a 33.7% to 40.3% increase year over year, and the Company&#8217;s adjusted net income is expected to be in the range of <span class=\"xn-money\">RMB4.8 billion<\/span> to <span class=\"xn-money\">RMB5.2 billion<\/span>, representing a 1.7% to 9.3% decrease year over year. <span id=\"spanHghltdd75\">These above estimates are based on management&#8217;s current and preliminary view and<\/span> subject to change.<\/p>\n<p>\n        <b>Company Share Purchase<\/b>\n      <\/p>\n<p>On <span class=\"xn-chron\">November 15, 2018<\/span>, the Company announced a share repurchase program whereby ZTO was authorized to repurchase its own Class A ordinary shares in the form of ADSs with an aggregate value of up to <span class=\"xn-money\">US$500 million<\/span> during an 18-month period thereafter. On <span class=\"xn-chron\">March 13, 2020<\/span>, the board of directors of the Company approved the extension of the current share repurchase program to <span class=\"xn-chron\">June 30, 2021<\/span>. The Company expects to fund the repurchases out of its existing cash balance. As of <span class=\"xn-chron\">September 30, 2020<\/span>, the Company has purchased an aggregate of 7,716,436 ADSs at an average purchase price of <span class=\"xn-money\">US$17.33<\/span>, including repurchase commissions.<\/p>\n<p>\n        <b>Initial Public Offering in <span class=\"xn-location\">Hong Kong<\/span><\/b>\n      <\/p>\n<p>On <span class=\"xn-chron\">September 29, 2020<\/span>, the Company successfully listed on the Main Board of the Hong Kong Stock Exchange (&#8220;HKEX&#8221;) under the stock code of &#8220;2057&#8221; with a global offering of 51,750,000 Class A ordinary shares (including the exercise of the over-allotment option on <span class=\"xn-chron\">October 22, 2020<\/span>) at the public offering price of <span class=\"xn-money\">HK$218<\/span> per share (the &#8220;Global Offering&#8221;). The <span class=\"xn-location\">Hong Kong<\/span>-listed shares are fully fungible with the Company&#8217;s American depositary shares (ADSs) listed on the New York Stock Exchange (&#8220;NYSE&#8221;) (one ADS representing one Class A ordinary share). Gross proceeds from the Global Offering before any underwriting fees and other offering expenses, were <span class=\"xn-money\">HK$11,281.5 million<\/span> (<span class=\"xn-money\">US$1,455.7 million<\/span>).<\/p>\n<p>\n        <b>Exchange Rate<\/b>\n      <\/p>\n<p>This announcement contains translation of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at the exchange rate of <span class=\"xn-money\">RMB6.7896<\/span> to <span class=\"xn-money\">US$1.00<\/span>, the noon buying rate on <span class=\"xn-chron\">September 30, 2020<\/span> as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve Systems.<\/p>\n<p>\n        <b>Use of Non-GAAP Financial Measures<\/b>\n      <\/p>\n<p>The Company uses adjusted EBITDA and adjusted net income, each a non-GAAP financial measure, in evaluating ZTO&#8217;s operating results and for financial and operational decision-making purposes.<\/p>\n<p>Reconciliations of the Company&#8217;s non-GAAP financial measures to its U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures.<\/p>\n<p>The Company believes that adjusted EBITDA and adjusted net income help identify underlying trends in ZTO&#8217;s business that could otherwise be distorted by the effect of the expenses and gains that the Company includes in income from operations and net income. The Company believes that adjusted EBITDA and adjusted net income provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by ZTO&#8217;s management in its financial and operational decision-making.<\/p>\n<p>Adjusted EBITDA and adjusted net income should not be considered in isolation or construed as an alternative to net income or any other measure of performance or as an indicator of the Company&#8217;s operating performance. Investors are encouraged to\u00a0<span id=\"spanHghlt9ebf\">compare<\/span> the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBITDA and adjusted net income presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to ZTO&#8217;s data. ZTO encourages investors and others to review the Company&#8217;s financial information in its entirety and not rely on a single financial measure.<\/p>\n<p>\n        <b>Conference Call Information<\/b>\n      <\/p>\n<p>ZTO&#8217;s management team will host an earnings conference call at <span class=\"xn-chron\">8:00 PM<\/span> U.S. Eastern Time on <span class=\"xn-chron\">Wednesday, November 18, 2020<\/span> (<span class=\"xn-chron\">9:00 AM<\/span> Beijing Time on <span class=\"xn-chron\">November 19, 2020<\/span>).<\/p>\n<p>Dial-in details for the earnings conference call are as follows:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">United States:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-888-317-6003<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Hong Kong:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">852-5808-1995<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Mainland China:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4001-206-115<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Singapore:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">800-120-5863<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-412-317-6061<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Passcode:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2473190<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Please dial in 15 minutes before the call is scheduled to begin and provide the passcode to join the call.<\/p>\n<p>A replay of the conference call may be accessed by phone at the following numbers until <span class=\"xn-chron\">November 25, 2020<\/span>:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">United States:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-877-344-7529<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-412-317-0088<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Passcode:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10149585<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Additionally, a live and archived webcast of the conference call will be available at <a target=\"_blank\" href=\"http:\/\/zto.investorroom.com\/\" rel=\"nofollow noopener noreferrer\">http:\/\/zto.investorroom.com<\/a>. <\/p>\n<p>\n        <b>About ZTO Express (Cayman) Inc.<\/b>\n      <\/p>\n<p>ZTO Express (Cayman) Inc. (NYSE: ZTO\u00a0and HKEX:2057) (&#8220;ZTO&#8221; or the &#8220;Company&#8221;) is a leading and fast-growing express delivery company in <span class=\"xn-location\">China<\/span>. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network coverage in <span class=\"xn-location\">China<\/span>.<\/p>\n<p>ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in <span class=\"xn-location\">China<\/span>. The Company leverages its network partners to provide pickup and last-mile delivery services, while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain.<\/p>\n<p>For more information, please visit <a target=\"_blank\" href=\"http:\/\/zto.investorroom.com\/\" rel=\"nofollow noopener noreferrer\">http:\/\/zto.investorroom.com<\/a>. <\/p>\n<p>\n        <b>Safe Harbor Statement<\/b>\n      <\/p>\n<p>This news release contains &#8220;forward-looking&#8221; statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to the Company&#8217;s unaudited results for the third quarter of 2020, ZTO management quotes and the Company&#8217;s financial outlook.<\/p>\n<p>These forward-looking statements are not historical facts but instead represent only the Company&#8217;s belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of its control. The Company&#8217;s actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the third quarter of 2020 are preliminary, unaudited and subject to audit adjustment. In addition, the Company may not meet its financial outlook included in this news release and may be unable to grow its business in the manner planned. The Company may also modify its strategy for growth. In addition, there are other risks and uncertainties that could cause the Company&#8217;s actual results to differ from what it currently anticipates, including those relating to the development of the e-commerce industry in <span class=\"xn-location\">China<\/span>, its significant reliance on the Alibaba ecosystem, risks associated with its network partners and their employees and personnel, intense competition which could adversely affect the Company&#8217;s results of operations and market share, any service disruption of the Company&#8217;s sorting hubs or the outlets operated by its network partners or its technology system. For additional information on these and other important factors that could adversely affect the Company&#8217;s business, financial condition, results of operations, and prospects, please see its filings with the U.S. Securities and Exchange Commission.<\/p>\n<p>All information provided in this press release and in the attachments is as of the date of the press release. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"13\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED CONSOLIDATED FINANCIAL DATA<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Summary of Unaudited Consolidated Comprehensive Income Data:<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"12\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended Sept 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended Sept 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"11\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands,\u00a0except\u00a0for\u00a0share\u00a0and\u00a0per\u00a0share\u00a0data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,265,760<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,638,836<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">977,795<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,263,430<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,957,146<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,497,518<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,668,821)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,247,884)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(772,930)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,638,332)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,978,371)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,911,507)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,596,939<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,390,952<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">204,865<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,625,098<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,978,775<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">586,011<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating income (expenses):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Selling, general and administrative<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(290,893)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(373,668)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55,035)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,154,021)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,246,140)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(183,537)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other operating income, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94,469<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">151,836<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,363<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">182,102<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">455,106<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">67,030<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(196,424)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(221,832)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(32,672)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(971,919)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(791,034)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(116,507)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income from operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,400,515<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,169,120<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">172,193<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,653,179<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,187,741<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">469,504<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income (expenses):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">146,372<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">96,654<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,236<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">437,313<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">337,138<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49,655<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13,707)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,019)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23,132)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,407)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposal of equity investees and <br \/>\u00a0\u00a0\u00a0 subsidiary<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(529)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign currency exchange gain\/(loss), <br \/>\u00a0\u00a0\u00a0 before tax<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,511<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(64,354)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,478)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,850<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(45,307)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,673)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income before income tax, and share of <br \/>\u00a0\u00a0\u00a0 loss in equity method investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,575,398<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,187,713<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">174,932<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,114,813<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,456,440<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">509,079<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income tax expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(266,297)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,845<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,101<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(746,958)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(400,228)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(58,947)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of loss in equity method <br \/>\u00a0\u00a0\u00a0 investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,420)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,268)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(776)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13,433)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,378)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,149)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,307,681<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,210,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">178,257<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,354,422<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,034,834<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">446,983<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss (income) attributable to noncontrolling<br \/>\u00a0\u00a0\u00a0 interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(153)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,271)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,365)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,700)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,762)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,585)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to ZTO Express <br \/>\u00a0\u00a0\u00a0 (Cayman) Inc.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,307,528<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,201,019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">176,892<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,347,722<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,024,072<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">445,398<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to <br \/>\u00a0\u00a0\u00a0 ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.27<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.86<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.57<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.26<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.86<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.57<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average shares used in<br \/>\u00a0\u00a0\u00a0\u00a0calculating net earnings per ordinary<br \/>\u00a0\u00a0\u00a0 share\/ADS<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">782,011,037<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,701,835<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,711,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,711,509<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">782,389,377<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,981,054<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,778,138<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,778,138<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other comprehensive income, net of tax <br \/>\u00a0\u00a0\u00a0 of nil:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign currency translation adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">480,712<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(326,880)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(48,144)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">429,859<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(173,511)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25,555)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Comprehensive income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,788,393<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">883,410<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">130,113<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,784,281<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,861,323<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">421,428<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Comprehensive income attributable to <br \/>\u00a0\u00a0\u00a0 noncontrolling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(153)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,271)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,365.47)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,700)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,762)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,585)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Comprehensive income attributable to <br \/>\u00a0\u00a0\u00a0 ZTO Express (Cayman) Inc.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,788,240<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">874,139<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">128,748<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,777,581<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,850,561<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">419,843<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <br \/>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Unaudited Consolidated Balance Sheets Data:<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td rowspan=\"2\" colspan=\"3\" nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sept 30,\u00a02020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>ASSETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0\u00a0 Current assets:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,270,204<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,408,906<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,416,771<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Restricted cash<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,210<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,070<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,189<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Accounts receivable, net <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">675,567<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">606,462<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89,322<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Financing receivables, net <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">511,124<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,046,286<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">154,101<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Short-term investment<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,113,217<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,804,528<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">707,630<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Inventories<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,845<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49,929<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,354<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Advances to suppliers<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">438,272<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">711,853<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">104,845<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 \u00a0Prepayments and other current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,964,506<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,224,856<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">327,688<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Amounts due from related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">74,312<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63,620<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,370<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0\u00a0\u00a0Total current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>20,098,257<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>25,924,510<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,818,270<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0Investments in equity investee<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,109,494<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,271,612<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">481,856<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,470,632<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,477,106<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,426,815<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Land use rights, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,508,860<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,105,231<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">604,635<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Intangible assets, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48,029<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,381<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,389<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Operating lease right-of-use assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">901,956<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">844,208<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">124,338<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Goodwill<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,241,541<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,241,541<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">624,711<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Deferred tax assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">403,587<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">701,942<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103,385<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Long-term investment<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">946,180<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,472,960<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216,944<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Long-term financing receivables, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">549,775<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,355,041<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">199,576<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Other non-current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">612,191<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">465,375<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68,542<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL ASSETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>45,890,502<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>58,902,907<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8,675,461<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>LIABILITIES AND EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0\u00a0\u00a0Current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Short-term bank borrowing<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,084,430<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307,003<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,475,258<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,468,675<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216,312<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Notes payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">720,420<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">106,106<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Advances from customers<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,210,887<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,137,709<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">167,566<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Income tax payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">80,272<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,269<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,784<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Amounts due to related parties<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,943<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,082<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,105<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Operating lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">298,728<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">267,348<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,376<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Acquisition consideration payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,942<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,942<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,379<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Dividends payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,629<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,304<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,812<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0 Other current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,552,288<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,083,074<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">601,372<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0\u00a0 Total current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,680,947<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9,857,253<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,451,815<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Non-current operating lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">504,442<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">459,518<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">67,680<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Deferred tax liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">207,896<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">214,382<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,575<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Other non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">93,820<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL LIABILITIES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,487,105<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10,531,153<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,551,070<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Ordinary shares (US$0.0001 par value; 10,000,000,000 shares authorized, <br \/>\u00a0\u00a0\u00a0\u00a0\u00a0 803,551,115 shares issued and 781,947,464 shares outstanding as of <br \/>\u00a0\u00a0\u00a0\u00a0\u00a0 December 31, 2019; 848,551,115 shares issued and 828,894,733 shares <br \/>\u00a0\u00a0\u00a0\u00a0\u00a0 outstanding as of September 30, 2020) <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">517<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">548<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">81<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Additional paid-in capital<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,336,594<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,357,326<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,323,867<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Treasury shares, at cost<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,436,767)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,350,529)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(198,911)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Retained earnings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,726,540<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,750,612<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,908,951<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Accumulated other comprehensive income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">675,720<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">502,207<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73,967<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>ZTO Express (Cayman)\u00a0Inc. shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>38,302,604<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>48,260,164<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,107,955<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Noncontrolling interests<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">100,793<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">111,590<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,435<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>38,403,397<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>48,371,754<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,124,390<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>TOTAL LIABILITIES AND EQUITY<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>45,890,502<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>58,902,907<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8,675,460<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">In June 2016, the FASB issued ASU 2016-13, Financial Instruments\u2014Credit Losses (Topic 326), which requires all entities to disclose<br \/>their current estimate of all expected credit losses. The Group adopted this ASU on January 1, 2020 using the modified retrospective <br \/>transition method and no material adjustment to the opening balance of retained earnings of 2020 was necessary. The adoption of this <br \/>new ASU has no material impact on its consolidated financial position, results of operations or cashflow.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <br \/>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"13\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Summary of Unaudited Consolidated Cash Flow Data:<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"12\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended September 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended September 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"11\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net cash provided by operating activities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,417,706<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,480,429<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">218,044<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,043,780<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,910,490<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">428,669<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <span id=\"spanHghlt8421\" class=\"prnews_span\">Net cash\u00a0(used in) provided by\/ investing <br \/>\u00a0\u00a0 activities<\/span><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,015,458)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,179,946<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">173,787<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,621,341)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(632,608)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(93,173)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net cash\u00a0\/ provided by (used in) financing <br \/>\u00a0\u00a0 activities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">511,528<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,602,624<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,267,030<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,995,524)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,965,576<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,320,487<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Effect of exchange rate changes on cash, <br \/>\u00a0\u00a0 cash equivalents and restricted cash<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,113<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(109,243)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(16,090)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,683<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(89,783)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13,224)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <span id=\"spanHghltff0a\" class=\"prnews_span\">Net (decrease) \/ increase\u00a0in cash, cash <br \/>\u00a0\u00a0 equivalents and restricted cash<\/span><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,053,111)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,153,756<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,642,771<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">436,598<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,153,675<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,642,759<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash, cash equivalents and restricted cash <br \/>\u00a0\u00a0 at beginning of period<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,112,663<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,277,333<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">777,267<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,622,954<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,277,414<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">777,279<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash, cash equivalents and restricted cash <br \/>\u00a0\u00a0 at end of period <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,059,552<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,431,089<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,420,038<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,059,552<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,431,089<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,420,038<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to <br \/>the total of the same such amounts shown in the condensed consolidated statements of cash flows:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\" \/>\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As of<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, 2019 <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbtb0 prnsbr1 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr6\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in thousands)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,058,640<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,408,906<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,416,771<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Restricted cash, current<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">912<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,070<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,189<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Restricted cash, non-current<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,113<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,079<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total cash, cash equivalents and restricted cash<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,059,552<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>16,431,089<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,420,038<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\n        <br \/>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"13\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Reconciliations of GAAP and Non-GAAP Results<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended Sept 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended Sept 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"11\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands,\u00a0except\u00a0for\u00a0share\u00a0and\u00a0per\u00a0share\u00a0data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"11\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,307,681<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,210,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">178,257<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,354,422<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,034,834<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">446,983<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Add:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Share-based compensation expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,800<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">305,865<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">264,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,906<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0Loss on disposal of equity investees <br \/>\u00a0\u00a0\u00a0\u00a0\u00a0 and subsidiary, net of income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">529<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,318,481<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,210,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">178,257<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,660,816<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,298,988<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">485,889<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,307,681<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,210,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">178,257<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,354,422<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,034,834<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">446,983<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Add:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Depreciation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">288,749<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">453,818<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">66,840<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">843,581<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,254,824<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">184,816<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,951<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,390<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,740<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,920<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">58,640<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,637<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Interest expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,707<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,132<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,407<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Income tax expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">266,297<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(27,845)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,101)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">746,958<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">400,228<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">58,947<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,876,678<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,675,360<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">246,755<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,984,881<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,771,658<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">702,790<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Add:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Share-based compensation expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,800<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">305,865<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">264,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,906<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Loss on disposal of equity investees <br \/>\u00a0\u00a0\u00a0\u00a0\u00a0 and subsidiary, before income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">529<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,887,478<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,675,360<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">246,755<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,291,275<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,035,812<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">741,696<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended Sept 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended Sept 30.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"11\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(in\u00a0thousands,\u00a0except\u00a0for\u00a0share\u00a0and\u00a0per\u00a0share\u00a0data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income attributable to ordinary<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,307,528<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,201,019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">176,892<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,347,722<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,024,072<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">445,398<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Add:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share-based compensation expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,800<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">305,865<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">264,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,906<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment of investment in equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss on disposal of equity investees <br \/>\u00a0\u00a0 and subsidiary, net of income taxes <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">529<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted Net income attributable to<br \/>\u00a0\u00a0 \u00a0ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,318,328<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,201,019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">176,892<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,654,116<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,288,226<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">484,304<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average shares used in <br \/>\u00a0\u00a0 calculating net earnings per ordinary <br \/>\u00a0\u00a0 share\/ADS<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">782,011,037<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,701,835<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,711,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,711,509<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">782,389,377<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,872,994<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">784,981,054<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,778,138<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">783,778,138<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings per share\/ADS attributable<br \/>\u00a0\u00a0 to ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.27<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.86<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.57<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.26<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.86<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.57<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted net earnings per share\/ADS<br \/>\u00a0 \u00a0attributable to ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.69<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.66<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.62<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.69<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.66<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.62<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\n        <b>For investor and media inquiries, please contact:<\/b>\n      <\/p>\n<p>\n        <b>ZTO Express (Cayman) Inc.<br \/><\/b>Investor Relations<br \/>E-mail: <a target=\"_blank\" href=\"mailto:ir@zto.com\" rel=\"nofollow noopener noreferrer\">ir@zto.com<\/a><br \/>Phone: +86 21 5980 4508<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN95773&amp;sd=2020-11-18\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels-301176050.html\">http:\/\/www.prnewswire.com\/news-releases\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels-301176050.html<\/a><\/p>\n<p>SOURCE  ZTO Express Cayman Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN95773&amp;Transmission_Id=202011181700PR_NEWS_USPR_____CN95773&amp;DateId=20201118\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Achieved RMB1.2 Billion Adjusted Net Income Amidst Fierce Competition ZTO Reports Third Quarter 2020 Unaudited Financial Results SHANGHAI, Nov. 18, 2020 \/PRNewswire\/ &#8212; ZTO Express (Cayman) Inc. (NYSE: ZTO and HKEX: 2057), a leading and fast-growing express delivery company in China (&#8220;ZTO&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the third quarter ended September 30, 2020(1). The Company maintained high quality of service and customer satisfaction, and expanded parcel volume market share by 1.9 percentage points to 20.8%. Third Quarter 2020 Financial Highlights Revenues were RMB6,638.8 million (US$977.8 million), an increase of 26.1% from RMB5,265.8 million in the same period of 2019. Gross profit was RMB1,391.0 million (US$204.9 million), a decrease of 12.9% from RMB1,596.9 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384539","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Achieved RMB1.2 Billion Adjusted Net Income Amidst Fierce Competition ZTO Reports Third Quarter 2020 Unaudited Financial Results SHANGHAI, Nov. 18, 2020 \/PRNewswire\/ &#8212; ZTO Express (Cayman) Inc. (NYSE: ZTO and HKEX: 2057), a leading and fast-growing express delivery company in China (&#8220;ZTO&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the third quarter ended September 30, 2020(1). The Company maintained high quality of service and customer satisfaction, and expanded parcel volume market share by 1.9 percentage points to 20.8%. Third Quarter 2020 Financial Highlights Revenues were RMB6,638.8 million (US$977.8 million), an increase of 26.1% from RMB5,265.8 million in the same period of 2019. Gross profit was RMB1,391.0 million (US$204.9 million), a decrease of 12.9% from RMB1,596.9 &hellip; Continue reading &quot;Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T22:03:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN95773&amp;sd=2020-11-18\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"20 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels\",\"datePublished\":\"2020-11-18T22:03:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\\\/\"},\"wordCount\":3986,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN95773&amp;sd=2020-11-18\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/expanded-market-share-to-20-8-grew-volume-51-2-to-4-6-billion-parcels\\\/\",\"name\":\"Expanded Market Share to 20.8%, Grew Volume 51.2% to 4.6 Billion Parcels - 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(NYSE: ZTO and HKEX: 2057), a leading and fast-growing express delivery company in China (&#8220;ZTO&#8221; or the &#8220;Company&#8221;), today announced its unaudited financial results for the third quarter ended September 30, 2020(1). The Company maintained high quality of service and customer satisfaction, and expanded parcel volume market share by 1.9 percentage points to 20.8%. Third Quarter 2020 Financial Highlights Revenues were RMB6,638.8 million (US$977.8 million), an increase of 26.1% from RMB5,265.8 million in the same period of 2019. 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