ZTO holder plans sale of 200,000 ADRs via Goldman

ZTO Express (Cayman) Inc. (ZTO) is the issuer for a Rule 144 notice filed for the account of ZTO ES Holding Limited, a 10% stockholder.

Rhea-AI Filing Summary

ZTO Express (Cayman) Inc. (ZTO) is the issuer for a Rule 144 notice filed for the account of ZTO ES Holding Limited, a 10% stockholder. The notice covers the potential sale, through Goldman Sachs & Co. LLC, of up to 200,000 ADRs of ZTO on the NYSE.

The ADRs relate to Class A ordinary shares originally purchased from the issuer on June 28, 2016 for cash. Over the prior three months, ZTO ES Holding Limited reported several ADR sales, totaling multiple tens of thousands of ADRs and several hundred thousand dollars in gross proceeds.

Key Figures

ADRs to be sold: 200,000 ADRs Aggregate market value of ADRs: $4,264,000 Shares outstanding: 557,330,906 shares +4 more

7 metrics

ADRs to be sold 200,000 ADRs Number of ADRs covered by the Rule 144 notice

Aggregate market value of ADRs $4,264,000 Aggregate market value for the 200,000 ADRs to be sold

Shares outstanding 557,330,906 shares Shares of the same class outstanding as referenced in the notice

Past sale 1 7,185 ADRs for $161,596.66 ADR sale on 05/27/2026 by ZTO ES Holding Limited

Past sale 2 4,662 ADRs for $102,151.63 ADR sale on 06/24/2026 by ZTO ES Holding Limited

Past sale 3 34,077 ADRs for $765,190.08 ADR sale on 06/10/2026 by ZTO ES Holding Limited

Past sale 4 15,338 ADRs for $327,381.94 ADR sale on 08/26/2026 by ZTO ES Holding Limited

Key Terms

Rule 144, ADR, 10% Stockholder

3 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

ADR financial

"ADR | Goldman Sachs & Co. LLC 200 West Street New York NY 10282"

An American Depositary Receipt (ADR) is a financial certificate that lets investors buy shares of a foreign company through U.S. stock markets, similar to buying a local wrapper that represents the underlying foreign shares. ADRs matter because they make investing in overseas companies easier and more liquid by trading in U.S. dollars and under U.S. market rules, while still carrying currency, regulatory, and country-specific risks that can affect share value.

10% Stockholder financial

"Name of Person for Whose Account the Securities are To Be Sold ... 10% Stockholder"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filing for ZTO Express (ZTO) disclose?

The filing discloses that ZTO ES Holding Limited, a 10% stockholder of ZTO Express (Cayman) Inc., has filed a Rule 144 notice for a potential sale of up to 200,000 ADRs of ZTO through Goldman Sachs & Co. LLC on the NYSE.

How many ZTO (ZTO) ADRs are covered by this Form 144?

The notice covers up to 200,000 ADRs of ZTO Express (Cayman) Inc. These ADRs are to be sold on the NYSE through Goldman Sachs & Co. LLC as broker, according to the Rule 144 filing.

What is the aggregate market value of ZTO (ZTO) ADRs in the Form 144?

The Form 144 lists an aggregate market value of $4,264,000 for the 200,000 ADRs proposed to be sold. It also notes that 557,330,906 shares of the same class are outstanding.

Who is selling ZTO (ZTO) securities under this Rule 144 notice?

The securities are to be sold for the account of ZTO ES Holding Limited, identified as a 10% stockholder of ZTO Express (Cayman) Inc. Goldman Sachs & Co. LLC is named as the broker handling the ADR sales.

What past 3-month sales of ZTO (ZTO) ADRs are reported?

The filing reports four ADR sales by ZTO ES Holding Limited over the past three months: 7,185 ADRs for $161,596.66, 4,662 for $102,151.63, 34,077 for $765,190.08, and 15,338 for $327,381.94.

When were the ZTO (ZTO) shares underlying the ADRs originally acquired?

The Class A ordinary shares underlying the ADRs were acquired on June 28, 2016 by purchase from the issuer for cash, according to the acquisition information in the Form 144.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/26/2026 - 04:43 PM Accepted by SEC EDGAR 08/26/2026 - 04:42 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001971621
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	ZTO Express (Cayman) Inc.
SEC File Number	001-37922
Address of Issuer	Building One, No. 1685 Huazhi Road Qingpu District Shanghai CHINA 201708
Phone	86-21-5980-4508
Name of Person for Whose Account the Securities are To Be Sold	ZTO ES Holding Limited
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	10% Stockholder

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
ADR	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	200000	4264000	557330906	08/26/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A Ordinary Shares	06/28/2016	Purchase	Issuer			200000	06/28/2016	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ZTO ES Holding Limited Building One, No. 1685 Huazhi Road Qingpu District Shanghai F4 201708	ADR	05/27/2026	7185	161596.66
ZTO ES Holding Limited Building One, No. 1685 Huazhi Road Qingpu District Shanghai F4 201708	ADR	06/24/2026	4662	102151.63
ZTO ES Holding Limited Building One, No. 1685 Huazhi Road Qingpu District Shanghai F4 201708	ADR	06/10/2026	34077	765190.08
ZTO ES Holding Limited Building One, No. 1685 Huazhi Road Qingpu District Shanghai F4 201708	ADR	08/26/2026	15338	327381.94

144: Remarks and Signature

Remarks
Date of Notice	08/26/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Goldman Sachs & Co. LLC on behalf of Xu Feng
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)